Massachusetts, Pennsylvania and Oregon tend not to conjure up thoughts of Caribbean sun and palm trees—unless you're a manager of a municipal-bond fund aimed at investors in those states. Out of the 339 so-called single-state muni funds tracked by.
North Carolina Municipal Bond, Ohio Municipal Bond and Tennessee Municipal Bond strategies and related institutional accounts. He also serves as portfolio manager for national closed-end funds and is the lead portfolio manager for the firm’s Taxable.
If your clients are invested in a U.S. municipal bond mutual fund , odds are they're exposed to Puerto Rico's crumbling financial situation. But because the slow-motion train wreck has been chugging along for several years, with the U.S. commonwealth's .
Among the top mutual funds, the Franklin Double Tax-Free Income has about 60% of its portfolio invested in Puerto Rico bonds, while the Oppenheimer Rochester VA Municipal and the Oppenheimer Rochester NC Municipal also have weightings of greater than 30.
This has not been the case in the last two years. In addition, with respect to municipal bond-focused mutual funds, U.S. municipal bond funds recently posted their 28th consecutive week of inflows. Consider the mutual fund flow information for municipal.
Puerto Rico debt crisis: Funds with the most to lose USA TODAY.
Nuveen North Carolina Premium Income Municipal Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc. The fund is managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets.
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COLUMBIA, S.C. — Structures built with municipal bonds stand out in this city. There is the Columbia Metropolitan Convention Center, and new parking garages for a revitalized restaurant and apartment district. Sleek, futuristic water towers loom on.
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A populist wave may have propelled Donald Trump to the nation's highest office, but he is proving to be no man of the people. Trump has already proposed what appears to be the wealthiest Cabinet in modern U.S. history, a collection of elites that.
Despite years of trouble, more than 40% of U.S. municipal bond funds still have exposure to Puerto Rico debt, totaling $7.82 billion in holdings, according to Morningstar data provided to USA TODAY. What's more, U.S. mutual funds hold about $8.38.
The ratio worsened, as 4 active investment managers opened new or increased holdings, while 7 reduced and sold their stakes in Delaware Investments Colorado Municipal Income Fund Inc. The active investment managers in our partner's database reported.