The investment seeks to maximize current income exempt from regular federal income tax. The fund will normally invest primarily in municipal securities rated at the time of purchase in the lowest investment grade categories (that is, securities rated in the Baa/BBB categories) or rated below investment grade (that is, securities rated below the Baa/BBB categories) or, if unrated, determined by the subadviser to be of comparable credit quality. It may also engage in a variety of transactions using derivatives in order to change the investment characteristics of its portfolio (such as shortening or lengthening duration) and for other purposes.
Fund filings (PDF) »
Dennis McNamara (Started: Sep 1, 2012)
Stephen Walsh (Started: May 17, 2007)
David Fare (Started: Jan 3, 2006)
Robert Amodeo (Started: May 17, 2007)
# Contact ?>
Legg Mason/Western, 100 International Drive, Baltimore, MD 21202, USA