The investment seeks a high level of income exempt from federal income tax consistent with the preservation of capital. The fund normally invests at least 80% of net assets in investment grade municipal securities that pay interest that is exempt from federal income tax. The principal issuers of these securities are state and local governments and their agencies located in any of the fifty states, the District of Columbia, Puerto Rico and other U.S. territories and possessions. Duration is a weighted average term-to-maturity of the security's cash flow. The weights are the present values of each cash flow as a percentage of the present value of all cash flows.
Fund filings (PDF) »

Asset managers:
William Furrer (Started: Oct 7, 2011)
Wendy Casetta (Started: Dec 22, 2011)
Kristian Lind (Started: Oct 7, 2011)
Lyle Fitterer (Started: Dec 22, 2011)

Advisor Company:
SEI Investments Management Corp.
Fund family reports on Morningstar »

	1 year	3 years	5 years	10 years
Alpha*	0.42	0.57	1.02	-
Beta*	0.03	0.05	0.09	-
Mean annual return	0.05	0.08	0.15	-
R-squared*	50.14	38.11	39.20	-
Standard deviation	0.16	0.34	0.72	-
Sharpe ratio	3.40	2.52	2.10	-
* Against standard index

Risk measurement details »

Security	Net Assets
St James Parish La Rev Var Rate	3.11%
New Jersey St Higher Ed Assist St 4.875%	1.91%
Fulton Cnty Ga Dev Auth 5%	1.52%
Deutsche Bk Spears/Lifers Tr V Ctfs	1.45%
New York N Y City Hsg Dev Corp Mul 0.95%	1.29%
Bb&T Mun Tr Floaters-	1.15%
New Jersey Health Care Facs Fi Ctfs	1.05%
New York St Twy Auth	1.05%
Florida St Mun Ln Council Infr Inf 1.75%	0.92%
Deutsche Bk Spears/Lifers Tr V Ctfs	0.84%

Holdings Performance »