Tax-exempt income fund

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Tax-exempt income fund

A mutual fund that seeks income that is exempt from federal and, in some cases, state and local income taxes.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved