The investment seeks high current income that is exempt from federal income tax consistent with preservation of capital. The fund invests 100% (and, as a fundamental policy, no less than 80%) of net assets in tax-exempt municipal securities. It primarily invests in securities rated investment-grade at the time of purchase or, if unrated, determined to be of comparable quality by the fund's adviser. However, the fund may invest up to 25% of assets in municipal securities rated below investment grade. The adviser attempts to maintain an average effective duration for the portfolio of approximately 3 to 8 years.
Fund filings (PDF) »
Debra Sit (Started: Jan 1, 1991)
Paul Jungquist (Started: Nov 1, 2000)
Michael Brilley (Started: Sep 29, 1988)
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Sit, 101 Sabin Street, Minneapolis MN 55402, USA