FOENLX

About FOENLX

First Trust Combined Series 413: Tax-Exempt Municipal Income Trust Long Intermediate Series 3 is a unit investment trust focused on generating federally tax-exempt income through a diversified portfolio of municipal bonds. Designed with a long-intermediate maturity profile, it concentrates on investment-grade and revenue-backed obligations that fund essential public projects such as transportation, utilities, healthcare facilities, and education infrastructure. The trust’s fixed portfolio structure provides defined holdings over a finite term, offering transparency into credit quality, sector exposure, and cash flow timing. By emphasizing long-intermediate duration, it seeks a balance between income stability and interest rate sensitivity relative to longer-dated municipal issues. Within the municipal market, this trust serves as a packaged vehicle for accessing a curated lineup of bonds without ongoing portfolio trading, aligning with investors who prioritize predictable distributions exempt from federal income tax. The series-based design allows each deposit to reflect prevailing municipal credit conditions and yield curves at inception, while the sponsor’s selection criteria and diversification aim to mitigate single-issuer and sector-specific risks.