Total returns on $10,000
Objective
The investment seeks a high level of current income exempt from federal income taxes, consistent with preservation of capital.
Under normal market conditions, the fund will invest at least 80% of the value of net assets (plus any borrowings for investment purposes) in investment-grade municipal obligations with interest payments exempt from federal taxes. The fund will typically invest in long-term debt securities. The fund will maintain a weighted average maturity of more than ten years. Although the fund invests primarily in investment-grade securities, up to 20% of the value of the fund's net assets may be invested in below investment-grade securities.
Profile
| Fund type | Open Ended Investment Company |
|---|---|
| Investment style (bonds) | Credit Quality: Mid Interest-Rate Sensitivity: Mod |
| Morningstar category | Muni National Long |
| Launch date | 03/04/2006 |
| Price currency | USD |
| Domicile | United States |
| Symbol | ACTCX |
| Manager & start date | Steven Permut 30/06/2003 Alan Kruss 28/03/2008 Joseph Gotelli 01/10/2008 |
Investment
| Pricing frequency | Daily |
|---|---|
| Total net assets | 3.50m USDAs of Apr 30 2013 |
| Net expense ratio | 1.48% |
| Front end load | -- |
| Deferred load | 1.00% |
| 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 | 96.62% |
|---|---|
Cash | 3.38% |
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 |
|---|---|---|---|
| California Infrasct & Ec Ref Bds | -- | 1.71% | |
| New Jersey St Trans 2.5% | -- | 1.15% | |
| Connecticut St Go Bds | -- | 1.14% | |
| California Statewide Cmntys De Rev Bd 5% | -- | 0.87% | |
| California St Econ Recover Economic 5% | -- | 0.84% |