MFS West Virginia Municipal Bond Fund Class B is a mutual fund designed to provide investors with income that is generally exempt from federal and West Virginia state income taxes. Its primary function is to invest in long-term municipal bonds issued by West Virginia state and local governments, bonds which are commonly utilized to fund public infrastructure and community projects such as schools, transportation, and utilities. This fund belongs to the 'Muni Single State Long' category, targeting bonds with durations typically exceeding six years, and is characterized by a portfolio diversified across a range of credit qualities, including a substantial allocation to bonds rated AA and A, as well as exposure to lower-rated and non-rated securities. MFS West Virginia Municipal Bond Fund Class B pays monthly dividends and aims to serve as a tax-advantaged income solution for individuals residing in West Virginia or those seeking geographic diversification within the municipal bond market. By focusing on West Virginia-issued municipal securities, the fund plays a key role in supporting local development while appealing to investors interested in tax efficiency and relative stability offered by municipal bonds.
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