Under normal market conditions, the Fund seeks to achieve its investment objective by investing at least 80 percent of its net assets (including investment borrowings) in municipal debt securities that pay interest that is exempt from regular federal income taxes (collectively, Municipal Securities). Municipal Securities are generally issued by or on behalf of states, territories or possessions of the U.S. and the District of Columbia and their political subdivisions, agencies, authorities and other instrumentalities. Under normal market conditions, the weighted average duration of the Funds portfolio is expected to be less than one year. In selecting the Funds portfolio, the portfolio managers will focus on Municipal Securities that meet basic infrastructure needs or provide critical services within their communities. The Fund will invest in Municipal Securities issued throughout the United States, including in Municipal Securities issued by entities in at least 10 different states, with an emphasis on Municipal Securities issued in states with growing populations and healthy employment trends.