Under typical market conditions, the fund aims to achieve its financial goals by channeling at least 80% of its net assets (which include any borrowed capital for investment) into municipal debt instruments. The interest generated by these specific instruments is free from both ordinary federal income tax and Minnesota state income tax, and they are referred to as "Municipal Securities." Up to 20% of its net assets may be invested in other debt securities whose interest payments are subject to taxation, potentially including the federal Alternative Minimum Tax (AMT). This fund operates on a non-diversified basis.