Although classified as a national municipal bond fund
, the portfolio is actually an intermediate fund, with an average maturity of about 8.
Otherwise, the interest from a national municipal bond fund
may be subject to state and local income tax.
Key Asset Management, the investment advisor of Victory Funds and a subsidiary of KeyCorp, today announced that the Victory National Municipal Bond Fund Class A Shares (Nasdaq: VNMAX) has been named the winner of the 2000 Lipper One Year Total Return Award.
The Victory National Municipal Bond Fund is no stranger to the Lipper awards as this marks the third time the fund has been honored in its six-year history.
Currently, he manages both state-specific and national municipal bond funds across the maturity spectrum.
He currently manages several state-specific municipal bond funds and co-manages national municipal bond funds across the maturity spectrum.
Fund Shareholders Recommended to Vote in Favor of Proposed Investment Policy Changes to Several National Municipal Bond Funds
by Institutional Shareholder Services Inc.
CHICAGO -- Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors today announced the Board of Trustees of Nuveen's closed-end funds has voted to recommend merging four Florida municipal bond funds into three existing Nuveen national municipal bond funds
With a choice of short, intermediate and long durations, these national municipal bond Funds
allow investors to select the level of interest rate risk they wish to undertake.
The Florida Funds will continue to invest pursuant to these policies and seek income exempt from federal income tax, but will be increasing their exposure to municipal obligations of issuers outside the State of Florida, transforming the Florida Funds in an orderly manner over time into diversified, national municipal bond funds.
Once the Florida Funds have had sufficient time to reduce their Florida concentration in an orderly manner by substituting municipal obligations of issuers in other jurisdictions for Florida municipal obligations, the Boards of Trustees of the Funds may consider other additional measures, potentially including a merger of the Florida Funds into similar closed-end Eaton Vance national municipal bond funds.
The company also manages four national municipal bond funds