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Home > Financial Services > Mutual Funds > Lebenthal
Lebenthal
There are many types of funds such as Lebenthal NJ Municipal, Lebenthal NY Municipal Bond A, Lebenthal NY Municipal Bond B and Lebenthal Taxable Municipal Bond.
Lebenthal NJ Municipal; the investment seeks income exempt from federal income taxes and New Jersey gross income tax; capital gain is secondary. The fund invests primarily in long-term, investment-grade, tax-exempt municipal obligations. It normally invests at least 80 percent of assets in securities that pay interest exempt from federal and New Jersey income taxes; these may include securities issued by Puerto Rico and other U.S. territories. It may invest in securities subject to the Alternative Minimum Tax. The fund typically maintains an average maturity ranging between 15 and 25 years. This fund is non-diversified.
Lebenthal New York Municipal Bond Fund seeks income exempt from federal, New York State, and New York City income taxes, consistent with preservation of capital; capital appreciation is secondary. The fund normally invests at least 80 percent of assets in investment grade New York municipal obligations. It may invest the balance in other municipal obligations. The average portfolio maturity ranges between 15 and 25 years. The fund may invest without limit in Alternative Minimum Tax-subject bonds. This fund is non-diversified.
Lebenthal Taxable Municipal Bond Fund seeks income consistent with capital preservation, capital appreciation is considered. The fund normally invests at least 65 percent of assets in taxable municipal bond obligations with remaining maturities of one year or more issued by state and municipal governments. The fund expects to maintain an average portfolio maturity in excess of 10 years. Although the fund purchases primarily investment-grade securities, it does not necesssarily dispose of a security if its credit quality is downgraded after purchase. The fund may purchase variable- and floating-rate securities, including participation interests therein. This fund is non-diversified.
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