Industry description
The investment seeks a high level of current income, exempt from federal income tax and Connecticut personal income tax.
The fund normally invests at least 80% of assets in investment-grade municipal securities whose interest is exempt from federal and Connecticut personal income taxes. The advisor allocates assets across different market sectors and maturities. The fund potentially invests more than 25% of total assets in municipal securities that finance similar types of projects. It is non-diversified.