| TYPICAL INVESTOR:
|
 |
More aggressive investor seeking high level of tax-free income |
| |
and total return with less principal volatility than long term bonds
|
| |
| TYPICAL OBJECTIVES: |
|
After-Tax Total Return |
|
High Level of Tax-Free Income |
| |
|
| AVERAGE MATURITY RANGE:
10 YRS. |
| AVERAGE DURATION RANGE: 6-7
YRS. |
| AVERAGE CREDIT QUALITY:
AA+ OR ABOVE |
| |
|
| SECTORS: |
|
Investment Grade Municipal Bonds |
| |
|
| BENCHMARKS: |
|
Lehman 10 Year Municipal |
|
Merrill Lynch 7-12 Year Municipal |
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