Total returns on $10,000
Objective
The investment seeks to earn the highest level of current income, exempt from federal income tax, that is available consistent with what the Adviser considers to be an appropriate level of risk.
The fund invests principally in high-yielding municipal securities that may be non-investment grade or investment grade. It normally invests at least 80% of its net assets in municipal securities that pay interest that is exempt from federal income tax. These securities may pay interest that is subject to the federal alternative minimum tax ("AMT") for certain taxpayers. The fund may invest without limit in lower-rated securities.
Profile
| Fund type | Open Ended Investment Company |
|---|---|
| Investment style (bonds) | Credit Quality: Low Interest-Rate Sensitivity: Ext |
| Morningstar category | High Yield Muni |
| Launch date | 26/01/2010 |
| Price currency | USD |
| Domicile | United States |
| Symbol | ABTYX |
| Manager & start date | Wayne Godlin 26/01/2010 Terrance Hults 26/01/2010 Michael Brooks 26/01/2010 R.B. Davidson III 26/01/2010 |
Investment
| Pricing frequency | Daily |
|---|---|
| Total net assets | 519.69m USDAs of Apr 30 2013 |
| Net expense ratio | 0.50% |
| Front end load | -- |
| Deferred load | -- |
| Redemption fee | -- |
| Min. initial investment | 0.00 USD |
| Min. additional investment | -- |
| Initial IRA | -- |
| Additional IRA | -- |
| Available for sale | United States |
Diversification
Asset type
Bond | 99.39% |
|---|---|
Other | 0.40% |
Cash | 0.21% |
US stock | 0.00% |
Non-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 |
|---|---|---|---|
| California Pollution Ctl Fing Wtr Fur 5% | -- | 1.64% | |
| Houston Tex Util Sys Rev Comb Util 5% | -- | 1.39% | |
| Salt Verde Finl Corp Sr Gas Re Senior 5% | -- | 1.29% | |
| Buckeye Ohio Tob Settlement Fi To 5.875% | -- | 1.22% | |
| Tobacco Settlement Fing Corp V Asset 5% | -- | 1.21% |