Address And Details

One Franklin Pkwy , San Mateo, CA 94403
Fund Manager Team Managed
Manager Tenure

Strategy And Objective

The Fund seeks to provide New York investors with as high a level of current income exempt from federal income tax and New York State and New York City personal income taxes as is consistent with the preservation of principal.Under normal circumstances, the fund invests at least 80% of its assets in investment grade New York municipal securities or other investments with similar economic characteristics. New York municipal securities are securities the interest on which is exempt from regular federal income tax and New York State and New York City personal income taxes. The funds 80% policy may not be changed without a shareholder vote. Interest on New York municipal securities may be subject to the federal alternative minimum tax.New York municipal securities include debt obligations issued by the State of New York and its political subdivisions, agencies and public authorities,certain other governmental issuers (such as Puerto Rico, the U.S. Virgin Islands and Guam) and other qualifying issuers. These securities include participation or other interests in municipal securities issued or backed by banks, insurance companies and other financial institutions.Some municipal securities, such as general obligation issues, are backed by the issuers taxing authority, while other municipal securities, such as revenue issues, are backed only by revenues from certain facilities or other sources and not by the issuer itself.The fund focuses on investment grade bonds (that is, securities rated in the Baa/BBB categories or above or, if unrated or deemed to be unrated by the subadviser, determined to be of comparable credit quality by the subadviser) but may invest up to 20% of its assets in below investment grade bonds (commonly known as high yield or junk bonds).The fund may invest up to 20% of its assets in unrated securities that the subadviser determines to be equivalent to investment grade.The fund may invest in securities of any maturity. The fund normally maintains an average effective portfolio maturity of between three and ten years. The average effective portfolio maturity of the fund is a weighted average of all the maturities of the securities in the portfolio, computed by weighting each securitys effective maturity, as estimated by the subadviser, by the market value of the security, and any cash in the portfolio. For the purposes of determining the funds average effective maturity, a securitys maturity date will generally be deemed to be the next interest rate reset date for an adjustable rate security or, if earlier, the date of the next demand feature such as a put feature, when the fund would be entitled to receive payment of principal and interest. The subadviser may also take into account estimated future prepayments on securities, such as mortgage-backed securities, with uncertain future cash flows and estimations of call features and similar features and options.

Net Asset Value

as of 6:22 PM ET 09/24/2021


  • 1 Week
  • n/a
  • 1 Month
  • -0.56%
  • 3 Months
  • -0.33%
  • 1 Yr Return
  • +3.71%
  • 5 Yr Return
  • -1.00%

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 101.87%
Stocks 0.00%
Cash 0.00%
Preferred 0.00%
Convertible 0.00%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Other -1.87%
Total Net Assets 94.83 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -0.70 -0.79 -0.76
Beta 0.99 0.92 0.92
R Squared 0.89 0.89 0.92
Std Deviation 4.19 3.81 3.47
Sharpe Ratio 0.78 0.34 n/a

Purchase Information

as of 5:58 PM ET 09/23/2021
Minimum Initial $1000
Minimum Additional $50
Minimum Initial IRA $0


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
  • +5.87%
  • +7.89%
+5.87% +7.89%
3 Year
  • +4.36%
  • +4.29%
+4.36% +4.29%
10 Year
  • +3.07%
  • +3.28%
+3.07% +3.28%
Life Of Fund
  • +4.28%
  • +4.29%
+4.28% +4.29%

Top 10 Holdings

Symbol Company Name % Of Assets

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