The investment seeks to provide the investors as high a level of current income exempt from Hawaiian state and regular Federal income taxes as is consistent with preservation of capital... Show more
The investment seeks to provide the investors as high a level of current income exempt from Hawaiian state and regular Federal income taxes as is consistent with preservation of capital.
Under normal circumstances, at least 80% of the fund's assets will be invested in municipal obligations that pay interest exempt, in the opinion of bond counsel, from Hawaii State and regular Federal income taxes. The fund is non-diversified.