Ambrus Tax-Conscious California Bond Fund Institutional Class (TCCBX)

Overview

The fund is strategically designed to focus on investing a significant portion of its resources in fixed income securities, with a particular emphasis on those that offer both economic stability and beneficial tax implications. By committing at least 80% of its net assets, as well as any borrowings aimed at further investments, into fixed income securities and other instruments of similar economic characteristics, the fund aims to provide its investors with reliable income sources. A distinctive feature of this investment approach is the deliberate allocation of a minimum of 50% of the fund's assets into municipal securities. These are specifically issued by or on behalf of the State of California, including its political subdivisions, financing authorities, and agencies. A key attraction of these investments lies in their ability to generate interest payments that are exempt from both federal and California state income taxes, offering a tax-efficient investment opportunity for those particularly interested in the Californian market.

Products and Services

• Fixed Income Securities Investments

  The core of the fund’s investment strategy revolves around the allocation of a substantial portion of its assets into fixed income securities and related instruments that share similar economic functions. This method is aimed at ensuring a stable source of income for investors by placing emphasis on securities that generally offer less risk compared to equities.

• Municipal Securities Investments

  A significant feature of the fund's investment portfolio is its focus on municipal securities, representing at least 50% of its asset composition. These securities are mainly issued by entities within the State of California, such as its political subdivisions, financing authorities, and their respective agencies. The appeal of these municipal securities is their offering of interest payments that are exempt from federal and California state income taxes, thereby presenting an advantageous tax-saving opportunity for investors. This particular investment preference underscores the fund’s aim of providing tax-efficient returns, especially catering to those with an interest in California’s financial instruments.