The fund is made suited for New Jersey taxpayers who, because of their tax bracket, can benefit from income that is exempt from federal and New Jersey state income taxes. It is not appropriate for tax-deferred retirement plans, such as IRAs. Some income may be subject to the federal alternative minimum tax. Income earned by non-New Jersey residents may be subject to applicable state and local taxes.
Click on the risk/reward spectrum below to view the funds in that category
The fund offers New Jersey investors double-tax-free income. It focuses on long-term securities to provide high yields. Assets are concentrated in investment-grade New Jersey municipal bonds to help reduce credit risk.
Yield and share price will vary with interest rate changes. Investors should note that if interest rates rise significantly from current levels, bond fund total returns will decline and may even turn negative in the short term. There is also a chance that some of the fund's holdings will have their credit ratings downgraded or will default. The fund is less diversified than a municipal bond portfolio that invests nationally.
* Funds are placed in general risk/return categories based on their 10-year standard deviation
(as of December 2015) or, for newer funds, the standard deviation of the types of securities
in which they invest. There is no assurance past trends will continue.
See Glossary for additional details on all data elements.
The mutual funds referred to in this website are offered and sold only to persons residing in the United States and are offered by prospectus only. The prospectuses include investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing. Download a prospectus.