Address And Details
|1001 Liberty Ave. , Pittsburgh, PA 15222|
|Fund Manager||Jeff A. Kozemchak|
|Manager Tenure||21 Years 2 Months|
Strategy And Objective
The Fund's investment objective is to provide current income exempt from federal regular income tax.The Fund pursues its objective by investing its assets so that, normally,distributions of annual interest income are exempt from federal regular income tax.Interest from the Fund's investments may be subject to (or may be a specific preference item for purposes of) the federal alternative minimum tax (AMT) forindividuals.The Fund will invest at least 65% of its assets in securities rated investment grade (or unrated securities of comparable quality) and may purchase securities rated below investment-grade,which are also known as junk bonds,(or unrated securities of comparable quality) up to 35% of its assets.The Fund's investment adviser (â€œAdviserâ€) seeks to maintain a low degree of Share price fluctuation by generally limiting the Fund's dollar-weighted average portfolio duration to oneyear or less.The Adviser may lengthen or shorten duration from time to time based on its interest rate outlook.Duration measures the sensitivity of a security'sprice to changes in interest rates.The Adviser may also continue to seek to maintain a low degree of Share price fluctuation and manage the Fund's average duration by investing in variable rate demand notes,municipal notes and short-term municipal bonds as a core position in the Fund's portfolio.The Adviser may seek higher returns than may be offered by a tax-exempt money market fund by generally investing in: â– short-term securities with maturities greater than one year; â– medium-quality securities; and/or â– noninvestment-grade securities.Short-term securities generally include securities with maturities of no more than three years.The Fund also may invest in securities with maturities greater thanthree years,subject to the Fund generally limiting the Fund's dollar-weighted average portfolio duration to one year or less.Medium-quality securities generally include investment-grade securities that are rated in the third and fourth highest rating category by a nationally recognized statistical rating organization (NRSRO) and unrated securities of comparable quality.Investment-grade securities are securities that receive investment-grade ratings (i.e., generally ratings in the first,second,third or fourth highest rating categories) by an NRSRO or unrated securities of comparable quality.For example,securities rated AAA,AA,A and BBB (including modifiers,sub-categories or gradations) by Standard & Poor's, an NRSRO,would be rated in the first,second,third or fourth highest rating category,respectively.Tax-exempt securities rated A and BBB by Standard & Poor's are rated in the third (A) and fourth (BBB) highest rating categories and would be considered medium-quality securities by the Fund.The presence of a ratings modifier,sub-category,or gradation (forexample,a (+) or (-)),is intended to show relative standing within the major rating categories and does not affect the security credit rating for purposes of the Fund's investment parameters.Although medium-quality securities are still considered investment-grade securities,lower credit ratings do correspond to higher perceived credit risk.
Net Asset Value
- 1 Week
- 1 Month
- 3 Months
- 1 Yr Return
- 5 Yr Return
Equity Sector Breakdown
|Asset Type||% Of Allocation|
|Total Net Assets||2.13 B|
|Criteria||3 Years||5 Years||10 Years|
|Minimum Initial IRA||$0|
|Timeframe||Average Annual Current Performance Monthly As Of 11/30/2021||Average Annual Current Performance Quarterly As Of 09/30/2021||Avg Annual Current Performance Monthly As Of 11/30/2021||Avg Annual Current Performance Quarterly As Of 09/30/2021|
|Life Of Fund||
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