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The investment seeks to track the investment results of the S&P AMT-Free Municipal Series 2020 IndexTM. The fund generally will invest at least 90% of its assets in the component securities of the underlying index, and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents, as well as in securities not included in the underlying index, but which the advisor believes will help the fund track the underlying index. The underlying index measures the performance of investment-grade, non-callable U.S. municipal bonds maturing in 2020.
Check out other names from the same Asset Management - Bonds industry as IBMI.