FNRAGX

About FNRAGX

First Trust Combined Series 416 Tax Exempt Municipal Income is a unit investment trust designed to deliver federally tax‑exempt income while seeking preservation of capital through a diversified portfolio of investment‑grade municipal bonds. The trust typically holds a curated selection of long‑dated general obligation and revenue bonds issued by states, cities, and public authorities, with structures aimed at generating monthly tax‑free cash flows under a regulated investment company framework. Its mandate centers on credit quality and defined portfolio life, offering transparency into holdings, coupons, and maturities, and a fixed termination date common to series‑based municipal income trusts. By channeling capital to public infrastructure, housing, utilities, and transportation projects, the trust provides investors access to the municipal market’s breadth of sectors while maintaining a focus on investment‑grade standards. Within the broader fixed income landscape, it serves as a targeted vehicle for tax‑efficient income, complementing core bond allocations with a rules‑based, buy‑and‑hold approach characteristic of First Trust’s Tax Exempt Municipal Income series.