Parametric TABS Intermediate-Term Municipal Bond Fund Class I is an open-end mutual fund that primarily invests in a diversified portfolio of intermediate-term municipal bonds. Its principal goal is to deliver an attractive after-tax total return by focusing on municipal securities that are exempt from regular federal income tax. This fund targets high-quality bonds issued by state and local governments to finance public projects, with portfolio durations typically between four and six years, and average maturities ranging from five to twelve years. The fund actively manages its holdings using a relative value approach and is managed by a team with substantial industry experience. It is designed for institutional investors, featuring a higher minimum investment and a competitive expense ratio. By spreading assets across many states and sectors, the fund seeks to minimize risk associated with municipal debt. Parametric TABS Intermediate-Term Municipal Bond Fund Class I pays monthly dividends and is regarded as a tax-advantaged fixed-income solution, often used by investors to complement other strategies or to moderate risk with high credit quality exposure in the municipal bond market.
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