MMBIX BNY Mellon MA Interm Muni Bd Inv Forecast, Technical & Fundamental Analysis

The investment seeks as high a level of income exempt from federal and Massachusetts state income taxes as is consistent with the preservation of capital. The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds that provide income exempt from federal and Massachusetts state personal income taxes. Generally, its average effective portfolio maturity will be between three and ten years and the average effective duration of the fund's portfolio will not exceed eight years. The fund may invest in individual municipal and taxable bonds of any maturity or duration.