Address And Details

333 S Hope St , Los Angeles, CA 90071
Fund Manager Karl Zeile
Manager Tenure 10 Years 9 Months

Strategy And Objective

The Funds primary investment objective is to provide you with a high level of current income exempt from regular federal, New York state and New York City income taxes. Its secondary objective is preservation of capital.The fund seeks to achieve its objectives by primarily investing in municipal bonds issued by the state of New York and its agencies and municipalities. Consistent with the funds objectives, the fund may also invest in municipal securities that are issued by jurisdictions outside New York. Municipal bonds are debt obligations generally issued to obtain funds for various public purposes, including the construction of public facilities. The fund may also invest in bonds exempt from federal and state taxation that are used to fund private projects.Under normal circumstances, the fund will invest at least 80% of its assets in, or derive at least 80% of its income from, securities that are exempt from regular federal, New York state and New York City income taxes and that do not subject you to federal alternative minimum tax. The fund may also invest up to 20% of its assets in securities that may subject you to federal alternative minimum tax. The fund is intended primarily for taxable residents of New York.The fund will invest primarily in debt securities rated BBB- or better or Baa3 or better by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser, or unrated but determined by the fund's investment adviser to be of equivalent quality. The fund may also invest in debt securities rated BB+ or below and Ba1 or below by Nationally Recognized Statistical Rating Organizations designated by the fund's investment adviser, or unrated but determined by the fund's investment adviser to be of equivalent quality. Such securities are sometimes referred to as junk bonds. Some of the securities in which the fund invests may have credit and liquidity support features, including guarantees and letters of credit.The funds assets are managed by a team of portfolio managers. Under this approach, the funds portfolio managers will work together to oversee the funds entire portfolio.The fund relies on the professional judgment of its investment adviser to make decisions about the funds portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good, long-term investment opportunities. The investment adviser believes that an important way to accomplish this is by analyzing various factors, which may include the credit strength of the issuer, prices of similar securities issued by comparable issuers, anticipated changes in interest rates, general market conditions and other factors pertinent to the particular security being evaluated. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.

Net Asset Value

as of 5:19 PM ET 09/20/2021

Performance

  • 1 Week
  • 0.00%
  • 1 Month
  • -0.26%
  • 3 Months
  • -0.44%
  • 1 Yr Return
  • +3.18%
  • 5 Yr Return
  • +2.81%

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 98.42%
Other 1.58%
Stocks 0.00%
Cash 0.00%
Preferred 0.00%
Convertible 0.00%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 30.00 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -0.82 -0.56 -0.54
Beta 1.18 1.10 1.13
R Squared 0.95 0.95 0.96
Std Deviation 4.86 4.42 4.15
Sharpe Ratio 0.81 0.44 n/a

Purchase Information

as of 5:21 PM ET 09/16/2021
Minimum Initial $1000
Minimum Additional $50
Minimum Initial IRA $0

Performance

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
  • +5.65%
  • +7.57%
+5.65% +7.57%
3 Year
  • +5.00%
  • +4.83%
+5.00% +4.83%
10 Year
  • +4.02%
  • +4.21%
+4.02% +4.21%
Life Of Fund
  • +4.04%
  • +4.05%
+4.04% +4.05%

Top 10 Holdings

Symbol Company Name % Of Assets
n/a

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