Columbia Oregon Intermediate Municipal Bond Fund Class Institutional 3 is an open-end municipal bond fund focused on generating federally tax-exempt income by investing primarily in investment-grade municipal securities issued by the State of Oregon and its local authorities. According to the sponsor, the portfolio normally allocates at least 80% of net assets to Oregon municipal bonds, emphasizing intermediate interest-rate exposure that typically aligns with portfolios holding durations of roughly four to six years. The fund targets essential-service, general obligation, and revenue-backed projects that finance public infrastructure and community development within Oregon, providing diversification across issuers, sectors, and bond structures within the single-state framework. As part of Columbia Threadneedle’s municipal franchise, the strategy applies credit research and active duration management to balance income generation with interest-rate and credit risk at the intermediate part of the muni curve. The fund’s role in the market is to serve investors seeking tax-advantaged income specific to Oregon, complementing broader fixed income allocations while offering exposure to the state’s municipal credit dynamics and the intermediate segment of the U.S. tax-exempt bond market.
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