BNY Mellon Massachusetts Intermediate Municipal Bond Fund Class M is a tax-exempt municipal bond mutual fund focused on generating federally and Massachusetts state tax‑free income for Massachusetts residents. The fund typically invests at least 80% of net assets in investment-grade municipal securities, emphasizing an intermediate profile with an average effective maturity generally between three and ten years and an average effective duration capped below eight years. It holds a diversified portfolio of state and local issuers and related agencies, aiming to balance income stability with interest‑rate sensitivity characteristic of intermediate muni strategies. Managed within the BNY Mellon family since its 1993 inception, the fund distributes income monthly and sits in the Muni Massachusetts category, which targets bonds whose income is exempt from both federal and Massachusetts taxes. Its structure and sector focus make it a specialized vehicle for tax‑aware investors seeking municipal exposure concentrated in Massachusetts credits, with professional management and ongoing portfolio turnover to navigate credit quality, call features, and yield curve positioning in the state and regional muni markets.
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