The investment seeks high level of current interest income which is exempt from both federal income tax and Ohio personal income tax. The fund invests primarily in municipal securities and zero coupon, tax, revenue, and bond anticipation notes and tax-exempt commercial paper. It normally invests at least 80% of net assets in securities issued by or on behalf of the state of Ohio or its municipalities, or other jurisdictions such as Puerto Rico, the interest on which is exempt from federal and Ohio state income tax. The fund is nondiversified.