Nuveen Massachusetts Premium Income Municipal Fund (NYSE: NMT) seeks to exempt cash income from regular federal income tax and Massachusetts personal income tax. The secondary goal is to increase the value of the portfolio.
Newven Massachusetts City Insurance Fund seeks to provide: attractive monthly tax-free income, diversified investment portfolio, attractive total return after tax.
Newven Massachusetts City Insurance Fund invests in municipal securities, excluding federal and Massachusetts income tax. The fund invests at least 80% of the assets under management in securities that are investment grade (S&P, Moody’s or Fitch Baa/BBB rated or high) at the time of investment. If they are not rated, the manager judges the quality to be equivalent.
The fund can invest up to 20% of its assets under management in municipal securities rated lower than investment quality, or municipal securities of comparable quality judged by the manager, of which up to 10% of the managed assets may be rated lower than B/B3, or Comparable quality.
Newven Massachusetts City Insurance Fund uses leverage.