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Home > Financial Services > Mutual Funds > Empire Builder
Empire Builder
Empire Builder Tax-Free Bond Bldr fund seeks a high level of current income exempt from federal income tax and New York State and New York City personal income taxes. The fund invests in securities rated within the four highest grades. It is a fundamental policy of the fund that at least 90 percent of its income distributions will be exempt from federal, New York State and City personal income taxes. The fund is nondiversified.
Empire Builder Tax-Free Bond Prem fund seeks a high level of current income exempt from federal income tax and New York State and New York City personal income taxes. The fund invests in securities rated within the four highest grades. It is a fundamental policy of the fund that at least 90 percent of its income distributions will be exempt from federal, New York State and City personal income taxes. The fund is nondiversified.
The Fund is a New York municipal bond fund which invests mainly in New York Tax Exempt Bonds. New York Tax Exempt Bonds are debt obligations issued by the State of New York and its political subdivisions or certain other governmental authorities, such as U .S. possessions like Puerto Rico, Guam, and the Virgin Islands, the interest from which is exempt from federal income tax (but not, in some cases, from the alternative minimum tax) and New York State and City personal income taxes.
Under normal market conditions, at least 90 percent of the Fund's income distributions will be exempt from federal income tax, and New York State and City personal income taxes, including the alternative minimum tax. The value of the Fund's investments will fluctuate with market conditions, and, therefore, so will the value of your investment in the Fund.
The Fund is nondiversified, so it will generally hold shares of relatively fewer issuers. Therefore, a default or a credit downgrade of any single issuer may have a greater impact on the Fund. The performance of the Fund is likely to be affected by factors pertaining to the New York economy and to New York governmental entities in particular. Therefore, Fund shares could fluctuate in value more than shares of a national municipal portfolio.
Investment goal of this fund is to seek as high a level of current income that is exempt from federal income tax and New York State and City personal income taxes as the Adviser believes to be consistent with the preservation of capital.
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