The investment seeks to provide high current income that is exempt from federal income tax, including alternative minimum tax. The fund normally invests at least 80% of its assets in municipal bonds that are exempt from federal income tax, including the alternative minimum tax. The advisor intends to invest a substantial portion of its assets in high yield municipal bonds and "private activity" bonds. It may also invest a portion of its total assets in municipal bonds that finance projects such as those relating to utilities, transportation, health care, housing and education, and a portion of its total assets in industrial development bonds.
Fund filings (PDF) »
Douglas Revello (Started: May 18, 2009)
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Spirit of America, 477 Jericho Turnpike, Syosset, NY 11791, USA