| BATS Exchange | US Country |
The company specializes in managing investment funds that specifically focus on municipal bond closed-end funds. These funds are chosen based on their trading status, which can be either at a discount or premium to their underlying net asset value. The strategy primarily emphasizes generating regular periodic cash distributions for its investors. To enhance the investment portfolio or provide better liquidity options, the company may allocate up to 30% of its assets into municipal or short-term Treasury ETFs, based on the adviser's discretion.
The core of the company’s offerings consists of investments in municipal bond closed-end funds. These funds are selected according to whether they trade at a discount or premium to their net asset value, aiming to capitalize on the disparities between market price and underlying value while seeking to provide regular income through periodic cash distributions.
As part of its diversified strategy, the company has the flexibility to invest up to 30% of its assets in municipal or short-term Treasury ETFs. This approach allows for adaptation to market conditions, where direct investments in these ETFs can present better opportunities or liquidity compared to closed-end funds. This option provides a strategic advantage in enhancing portfolio performance or managing liquidity needs.