The investment seeks to provide high current income that is exempt from federal income tax, including alternative minimum tax. The fund invests, under normal circumstances, at least 80% of its assets in municipal bonds that are exempt from federal income tax, including the alternative minimum tax ("AMT"). It intends to invest a substantial portion of its assets in high yield municipal bonds and "private activity" bonds. The fund may also invest, without limitation, in higher rated municipal bonds. It may invest a portion of its total assets in "private activity" bonds whose interest is a tax-preference item for purposes of the AMT.
Fund filings (PDF) »
Douglas Revello (Started: May 18, 2009)
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Spirit of America, 477 Jericho Turnpike, Syosset NY 11791, USA