The investment seeks current income exempt from both federal income tax and Louisiana personal income tax. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal bonds that pay interest that is exempt from federal and Louisiana income tax. It may invest up to 35% of its total assets in municipal securities issued by U.S. territories. The fund may invest up to 20% of its net assets in securities that pay interest subject to the federal alternative minimum tax and in securities that pay taxable interest. It is non-diversified.
Fund filings (PDF) »

Asset manager:
Jeffrey Tanguis (Started: Feb 1, 2011)

Advisor Company:
Horizon Advisers
Fund family reports on Morningstar »

	1 year	3 years	5 years	10 years
Alpha*	-2.62	-	-	-
Beta*	1.65	-	-	-
Mean annual return	0.20	-	-	-
R-squared*	98.72	-	-	-
Standard deviation	5.37	-	-	-
Sharpe ratio	0.42	-	-	-
* Against standard index

Risk measurement details »

Security	Net Assets
Louisiana Pub Facs Auth 5%	5.69%
Louisiana Loc Govt Environment Rev Bd 4%	5.16%
Louisiana Loc Govt Environment Re 4.125%	4.03%
Louisiana Loc Govt Environment Rev Bd 5%	3.43%
Ascension Parish La Parishwide Go 3.75%	3.20%
Ascension Parish La Rev Rev Ref B 3.25%	2.85%
Louisiana Loc Govt Environment Rev Bd 4%	2.61%
Puerto Rico Sales Tax Fing Cor Sale 5.5%	2.40%
Louisiana Pub Facs Auth 4.5%	2.09%
Louisiana Stad & Exposition Di Sn 3.625%	1.99%

Holdings Performance »