national municipal bond fund

national municipal bond fund definition - finance
A type of mutual fund that primarily invests in municipal bonds that have either an average maturity of more than five years or no stated maturity. This type of bond fund usually is exempt from federal income tax but may be taxed under state or local laws.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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