MALMX

About MALMX

BlackRock Short Duration Muni Fund Institutional Shares is an open-end municipal bond mutual fund focused on providing a high level of income that is exempt from U.S. federal income taxes, while maintaining limited interest rate sensitivity. The strategy normally invests at least 80% of assets in municipal bonds and notes, primarily in investment-grade securities, including variable rate demand obligations, with an emphasis on short duration holdings. The fund sits in the muni national short category, targeting a shorter effective duration profile that helps temper price volatility as rates move. It is designed for institutional investors, offering a below-average distribution fee level and a competitive expense ratio for its share class. The portfolio spans diverse state and local issuers and essential-service revenue bonds, reflecting a broad approach to tax-exempt credit markets. By focusing on short-term, high-quality municipal credits, the fund serves as a core tax-exempt income vehicle for cash management, liquidity-conscious mandates, and allocation sleeves seeking stability and federally tax-advantaged income.