Industry description
The investment seeks the highest level of current income that is exempt from federal and North Dakota personal income taxes and is consistent with preservation of capital.
To pursue its objective, 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 (a) federal income taxes, including the federal alternative minimum tax, and (b) North Dakota personal income taxes. It is non-diversified.