| The investment seeks high current income that is exempt from federal income tax. The fund invests at least 80% of assets in municipal bonds. Municipal Bonds are issued by or on behalf of states and local governments and their agencies, authorities and/or other instrumentalities. It intends to invest a substantial portion of its assets in high yield Municipal Bonds and private activity bonds that, at the time of purchase, are rated below investment grade by Standard and Poor's, Moody's or Fitch, or if unrated, determined by the fund to be of comparable quality. It is nondiversified. |