FBABNX

About FBABNX

First Trust Combined Series 299 Build America Bonds Portfolio Series 3 is a unit investment trust focused on generating income and preserving capital through investments in a professionally selected, fixed portfolio of investment grade taxable municipal bonds. These bonds are specifically issued under the Build America Bond provision of the American Recovery and Reinvestment Act of 2009, which incentivized public infrastructure investment by allowing issuers to offer higher-yielding, taxable municipal bonds. The trust is structured as a regulated investment company, distributing income to investors on a monthly basis. By blending muni bonds’ historically lower default rates with the attractively higher yields typical of taxable instruments, this portfolio is designed for those seeking stable income from government-related issuances. The fund plays a pivotal role in supporting large-scale infrastructure financing in the U.S. municipal market and demonstrates the integration of public stimulus measures into private investment products. Once launched, the portfolio remains static, without active trading or rebalancing, thus offering transparency and predictability regarding its holdings and duration profile.