![nms securities nms securities](https://www.webnms.com/images/mediation.png)
This column enables a common shareholder to better understand how fund expenses impact portfolio investment returns. The second column portrays the costs borne by the Fund on its total investment capital, which includes common assets as well as assets attributable to the Fund's issuance of senior securities (e.g. The first column portrays the costs directly and indirectly borne by common shareholders.
![nms securities nms securities](https://www.novuscctv.com/sites/default/files/in_text_illustrations/ptz.jpg)
The Fund uses leverage.įor term definitions and index descriptions, please access the glossary in the footer.įund fees and expenses are presented as a percentage of both common shareholder capital and total fund investment capital. No more than 10% of the Fund's managed assets may be invested in municipal securities rated below B3/B- or that are unrated but judged to be of comparable quality. The Fund may invest up to 20% of its managed assets in municipal securities that, at the time of investment, are rated below investment grade or are unrated but judged to be of comparable quality. The Fund invests at least 80% of its managed assets in investment grade securities rated, at the time of investment, investment grade or, if they are unrated, are judged to be of comparable quality. The Fund invests in municipal securities that are exempt from regular federal and Minnesota personal income taxes. The Fund's secondary investment objective is to enhance portfolio value.
![nms securities nms securities](https://miro.medium.com/max/550/0*SGepnbVWP9NSnvTq.png)
The primary objective of the Fund is to provide current income exempt from regular federal and Minnesota personal income taxes.