Industry description
The investment seeks the highest level of current income that is exempt from federal and Kansas personal income taxes and is consistent with preservation of capital.
The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in municipal securities that pay interest free from federal income taxes, including the federal alternative minimum tax, and Kansas personal income taxes. It may invest up to 30% of its net assets in U.S. territorial obligations, the interest on which is exempt from federal and Kansas personal income taxes.