The investment seeks the maximum amount of interest income exempt from federal income tax as is consistent with reasonable risk. The fund uses the volatility of the Barclays Municipal Bond Index as an approximation of reasonable risk. Under normal conditions, it invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in municipal bonds that pay interest exempt from federal income tax. Under normal conditions, the fund invests primarily in investment grade municipal bonds. It seeks to maintain a dollar-weighted average maturity of between ten and twenty-five years.
Fund filings (PDF) »
Daniel Solender (Started: Sep 14, 2006)
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Lord Abbett, 90 Hudson Street, Jersey City NJ 7302, USA