McDonnell Intermediate Municipal Bd Y
The investment seeks a high level of federal tax-exempt current income, consistent with the preservation of capital.
The fund will invest at least 80% of its net assets in municipal securities that pay interest exempt from federal income taxes. Under normal circumstances, the dollar-weighted average maturity of the fund's portfolio is expected to be between 3 and 10 years although it may invest in securities of any maturity. The fund may invest up to 20% of its assets in securities that pay interest subject to federal income taxation. It may invest up to 20% of its assets in debt securities subject to the federal alternative minimum tax.