A Strategic Combination Pursuing Current Income with Lower Volatility

  • Diversified across asset classes and sectors,the fund’s active allocation process seeks the optimal yield and total return opportunities
    between munis and equities over time.
  • Two distinct asset classes, typically with low correlations, combine to create a portfolio that seeks to be less volatile than an all-stock portfolio.
  • May reduce the sensitivity to interest rates of an all-bond portfolio.

Muni-Bonds Help Maximize After-Tax Income

  • At least 50% of the fund’s assets are invested in tax-exempt municipal bonds.
  • Bonds are specifically selected to avoid the alternative minimum tax (AMT).
  • Muni-bonds are exempt from the 3.8% investment tax associated with the Affordable Care Act.

Dividend-Paying Stocks Offer
Portfolio Growth Potential and Favorable Tax Treatment

  • The fund’s dividend-paying and dividend growing stock position boosts potential total return and income over time.
  • Dividend-paying stocks offer the opportunity for capital appreciation and to potentially offset the negative impact of inflation.
  • Income from dividend-paying stocks qualifies for varying degrees of favorable tax treatment based on income level.