Address And Details

333 West Wacker Drive , Chicago, IL 60606
Fund Manager Daniel J. Close
Manager Tenure 14 Years 6 Months

Strategy And Objective

The investment objective of the Fund is to provide you with as high a level of current interest income exempt from regular federal, North Carolina state and, in some cases, North Carolina local income taxes as is consistent with preservation of capital. Under normal market conditions, the Fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in municipal bonds that pay interest that is exempt from regular federal and North Carolina personal income tax. These municipal bonds include obligations issued by the State of North Carolina and its subdivisions, authorities, instrumentalities and corporations, as well as obligations issued by U.S. territories (such as Puerto Rico, the U.S. Virgin Islands and Guam) or other U.S. states that pay interest that is exempt from regular federal and North Carolina personal income tax. The Fund may invest up to 20% of its net assets in municipal bonds that are exempt from regular federal income tax, but not from North Carolina personal income tax if, in the judgment of the Fund's sub-adviser, such purchases are expected to enhance the Fund's after-tax total return potential. The Fund may invest without limit in securities that generate income subject to the alternative minimum tax. The Fund will generally maintain, under normal market conditions, an investment portfolio with an overall weighted average maturity in excess of 10 years.

Net Asset Value

as of 4:36 PM ET 09/09/2021


  • 1 Week
  • -0.09%
  • 1 Month
  • -0.61%
  • 3 Months
  • -0.43%
  • 1 Yr Return
  • +1.33%
  • 5 Yr Return
  • +1.15%

Equity Sector Breakdown

ConsumerDurables n/a
Energy n/a
Finance n/a
Health n/a
IndustrialCyclical n/a
NonDurables n/a
RetailTrade n/a
Services n/a
Technology n/a
Utilities n/a

Asset Allocation

Asset Type % Of Allocation
Bonds 99.21%
Other 0.79%
Stocks 0.00%
Cash 0.00%
Preferred 0.00%
Convertible 0.00%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 496.33 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -0.38 -0.57 -0.31
Beta 1.05 1.03 1.05
R Squared 0.98 0.98 0.89
Std Deviation 4.26 4.08 4.03
Sharpe Ratio 0.91 0.43 n/a

Purchase Information

as of 4:38 PM ET 09/08/2021
Minimum Initial $100000
Minimum Additional $0
Minimum Initial IRA $100000


Timeframe Average Annual Current Performance Monthly As Of 08/31/2021 Average Annual Current Performance Quarterly As Of 05/31/2021 Avg Annual Current Performance Monthly As Of 08/31/2021 Avg Annual Current Performance Quarterly As Of 05/31/2021
1 Year
  • +3.60%
  • +4.56%
+3.60% +4.56%
3 Year
  • +4.96%
  • +4.73%
+4.96% +4.73%
10 Year
  • +4.01%
  • +4.22%
+4.01% +4.22%
Life Of Fund
  • +4.63%
  • +4.64%
+4.63% +4.64%

Top 10 Holdings

Symbol Company Name % Of Assets

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