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Address And Details

P.O. Box 55931 , Boston, MA 02205
Fund Manager Team Managed
Manager Tenure

Strategy And Objective

To provide current income exempt from federal income tax consistent with preservation of capital. Under normal circumstances, the Fund invests at least 80% of its assets in municipal securities, the income from which is exempt from federal income tax (including the federal alternative minimum tax (AMT)). The Fund normally maintains an average dollar-weighted effective maturity of one year or less. Effective maturity takes into account the possibility that a bond may have prepayments or may be called by the issuer before its stated maturity date. The Fund invests primarily in municipal securities within the investment grade category (i.e., rated BBB by Standard & Poor s or Baa by Moody s Investors Service, or higher, or unrated and considered by the Adviser to be comparable in quality) at the time of purchase. The Fund also may invest up to 10% of its assets in municipal securities that are below investment grade, also known as high yield securities or junk bonds. Municipal securities include fixed and floating rate debt obligations of states, territories, and possessions of the U.S., and political subdivisions and financing authorities of these entities that provide income exempt from federal income tax (although not necessarily exempt from federal AMT). Fund investments are selected after assessing factors such as the cyclical trend in interest rates, the shape of the municipal yield curve, tax rates, sector valuation, and municipal bond supply factors. The Adviser also integrates environmental, social, and governance (ESG) considerations into its investment process. From time to time, the Fund maintains a portion of its assets in cash. The Fund may increase its cash holdings in response to market conditions or in the event attractive investment opportunities are not available.

Net Asset Value

as of 5:02 PM ET 01/13/2022


  • 1 Week
  • -0.10%
  • 1 Month
  • n/a
  • 3 Months
  • -0.20%
  • 1 Yr Return
  • -0.30%
  • 5 Yr Return
  • +0.10%

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 93.64%
Other 6.33%
Cash 0.03%
Stocks 0.00%
Preferred 0.00%
Convertible 0.00%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 534.90 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -0.16 -0.21 0.33
Beta 0.12 0.11 0.08
R Squared 0.64 0.54 0.26
Std Deviation 0.59 0.50 0.55
Sharpe Ratio 0.50 0.24 n/a

Purchase Information

as of 5:03 PM ET 01/05/2022
Minimum Initial $1000000
Minimum Additional $0
Minimum Initial IRA $0


Timeframe Average Annual Current Performance Monthly As Of 12/31/2021 Average Annual Current Performance Quarterly As Of 12/31/2021 Avg Annual Current Performance Monthly As Of 12/31/2021 Avg Annual Current Performance Quarterly As Of 12/31/2021
1 Year
  • +0.44%
  • +0.44%
+0.44% +0.44%
3 Year
  • +1.17%
  • +1.17%
+1.17% +1.17%
10 Year
  • +1.06%
  • +1.06%
+1.06% +1.06%
Life Of Fund
  • +1.19%
  • +1.19%
+1.19% +1.19%

Top 10 Holdings

Symbol Company Name % Of Assets

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