Tax-exempt income fund

(redirected from Tax Exempt Income Fund)

Tax-exempt income fund

A mutual fund that seeks income that is exempt from federal and, in some cases, state and local income taxes.

Tax-Exempt Income Fund

An income fund that invests predominantly or exclusively in securities exempt from taxes, at least at the federal level. The easiest investment for such a fund is in U.S. Treasury securities.
References in periodicals archive ?
BOSTON -- Putnam Investments and the Board of Trustees announced today that the Board of Trustees has formally approved the mergers of Putnam Municipal Opportunities Trust (NYSE: PMO) into Putnam Tax Exempt Income Fund and of Putnam Managed Municipal Income Trust (NYSE: PMM) into Putnam Tax-Free High Yield Fund.
The plans call for the merger of PMO into Putnam Tax Exempt Income Fund, and PMM into Putnam Tax-Free High Yield Fund.
BOSTON -- Putnam Investments announced that Putnam Tax-Free Health Care Fund (NYSE: PMH) and the open-end Putnam Tax Exempt Income Fund completed their previously announced merger in a closing held today.
The fund is merging into Putnam Tax Exempt Income Fund on September 14, 2007.
BOSTON -- Putnam Investments announced that shareholders of Putnam Tax-Free Health Care Fund (NYSE: PMH), at a special meeting today, approved the merger of the fund into Putnam Tax Exempt Income Fund, an open-end fund also managed by Putnam Investments.
BOSTON -- Putnam Investments announced today that Putnam New York Investment Grade Municipal Trust (AMEX: PMN) and the open-end Putnam New York Tax Exempt Income Fund completed their previously announced merger in a closing held today.
BOSTON -- Putnam Investments announced today that the pricing for closing the merger of Putnam New York Investment Grade Municipal Trust (AMEX: PMN) into the open-end Putnam New York Tax Exempt Income Fund is expected to occur as of Friday, June 22, 2007, following a meeting of PMN's shareholders to consider approval of the terms of the transaction.
BOSTON -- Putnam Investments and the Board of Trustees of the Putnam Funds announced today that the Board of Trustees has formally approved the merger of Putnam New York Investment Grade Municipal Trust (AMEX: PMN) into the open-end Putnam New York Tax Exempt Income Fund and the merger of Putnam Tax-Free Health Care Fund (NYSE: PMH) into the open-end Putnam Tax Exempt Income Fund.
The Board had previously announced its approval in principle of a merger of the Fund into Putnam California Tax Exempt Income Fund, an open-end fund also managed by Putnam Investments, and had recommended that shareholders of the Fund reject a tender offer by the Mildred B.
The Trust believes that the offer gives PCA's shareholders a more realistic opportunity to realize nearly 100% of their net asset value, per share, contrary to the PCA's trustees' proposal to merge PCA into Putnam California Tax Exempt Income Fund.
It is currently expected that the merger of PMH into Putnam Tax Exempt Income Fund would be concluded in the third quarter of 2007.
The plans call for the merger of PCA into Putnam California Tax Exempt Income Fund, and PMN into Putnam New York Tax Exempt Income Fund.