AAM Build America Bond Limited Maturity Portfolio 5 – CA is a unit investment trust designed to deliver current income and preserve capital through a fixed portfolio of taxable municipal securities issued under the Build America Bond provision of the American Recovery and Reinvestment Act of 2009. The trust primarily holds investment grade Build America Bonds and may include other taxable municipal bonds, emphasizing defined maturities and a fixed, buy-and-hold structure typical of unit investment trusts. Its limited-maturity focus targets bonds maturing roughly 10 to 20 years from the trust’s inception, positioning the portfolio on the intermediate-to-long segment of the taxable muni curve while mitigating some duration risk relative to longer-dated structures. Build America Bonds finance public infrastructure such as transportation, utilities, water systems, and education projects, channeling capital to state and local issuers with federally enabled taxable issuance. Within the municipal market, this portfolio provides access to diversified, professionally selected credits with transparent cash flows and scheduled termination, serving investors who prioritize predictable income from taxable municipal issuers and defined portfolio life typical of regulated investment company–structured UITs.
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