Total returns on $10,000
Objective
The investment seeks high current income that is exempt from federal income taxes; capital appreciation is a secondary consideration.
The fund invests in municipal and other debt securities with an emphasis on high-yield securities. Under normal market conditions, the portfolio managers invest at least 80% of the fund's assets in municipal securities with interest payments exempt from federal income tax. Some of these investments in municipal securities are not necessarily exempt from the federal alternative minimum tax. The fund is non-diversified.
Profile
| Fund type | Open Ended Investment Company |
|---|---|
| Investment style (bonds) | Credit Quality: Low Interest-Rate Sensitivity: Ext |
| Morningstar category | High Yield Muni |
| Launch date | 31/03/1998 |
| Price currency | USD |
| Domicile | United States |
| Symbol | ABHYX |
| Manager & start date | Steven Permut 31/03/1998 Alan Kruss 01/01/2012 Joseph Gotelli 01/01/2012 |
Investment
| Pricing frequency | Daily |
|---|---|
| Total net assets | 276.52m USDAs of Apr 30 2013 |
| Net expense ratio | 0.61% |
| Front end load | -- |
| Deferred load | -- |
| Redemption fee | -- |
| Min. initial investment | 5,000 USD |
| Min. additional investment | 50.00 USD |
| Initial IRA | -- |
| Additional IRA | -- |
| Available for sale | United States |
Diversification
Asset type
Bond | 97.58% |
|---|---|
Cash | 2.41% |
Other | 0.00% |
Non-US stock | 0.00% |
US stock | 0.00% |
Top 5 sectors
Top 5 Regions
Regional weighting data is unavailable.
Top 5 holdings
| Company | 1 year change | Portfolio weight | Long allocation |
|---|---|---|---|
| Buckeye Ohio Tob Settlement Fi To 5.875% | -- | 2.28% | |
| Golden St Tob Securitization C Tob 5.75% | -- | 1.86% | |
| New Jersey St Trans 2.5% | -- | 1.51% | |
| Los Angeles Calif Dept Wtr & P Rev Bd 5% | -- | 1.40% | |
| North Tex Twy Auth 5% | -- | 1.32% |