Municipal Investment Company Strategy

Strategy Overview

Investment approach

This strategy seeks to take advantage of the opportunity for higher yields and discount appreciation in municipal bond closed-end funds, while managing risk and controlling execution in a low-volume market.

Key Characteristics

  • 30-40 funds from investable universe
  • Seeks broad diversification with allocations that also account for individual fund liquidity characteristics
  • Active rebalancing aims to take advantage of idiosyncratic trading patterns and capture relative value
  • May utilize an option purchase strategy to potentially reduce interest rate related volatility


Please read the simplified prospectus before investing. The amount of risk associated with any particular investment depends largely on your own personal circumstances including your time horizon, liquidity needs, portfolio size, income, investment knowledge and attitude toward price fluctuations. Investors should consult their financial advisor before making a decision as to whether this fund is a suitable investment for them.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

The rate of return or mathematical table shown is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the mutual fund or returns on investment in the mutual fund. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns.