The investment seeks the highest level of interest income exempt from federal income tax and Ohio personal income tax, consistent with the protection of capital.
Under normal circumstances, the fund invests at least 80% of its assets in high-quality, long-term Ohio municipal obligations, including general obligation bonds, revenue bonds, and industrial development bonds. High-quality, long-term Ohio municipal obligations are, for purposes of this fund, considered to be obligations rated within the three highest rating categories, with remaining maturities of 3 years or more. The fund is non-diversified.
The investment seeks to provide current income that is exempt from both federal and Ohio personal income taxes.
The fund invests primarily in high-quality municipal bonds issued by Ohio state and local governments, as well as by regional governmental and public financing authorities. Under normal circumstances, at least 80% of its assets will be invested in securities whose income is exempt from federal and Ohio state taxes. Although the fund has no limitations on the maturities of individual securities, its dollar-weighted average maturity is expected to be between 10 and 25 years. The fund is non-diversified.