BNY Mellon National Intermediate Municipal Bond Fund Class M is a mutual fund specializing in intermediate-term municipal bonds. Its primary objective is to maximize current income that is exempt from federal income tax, while prioritizing the preservation of capital. The fund predominantly invests at least 80% of its assets in a diversified portfolio of municipal bonds issued by state and local governments across the United States to finance public projects such as infrastructure, schools, and healthcare facilities. It typically maintains an effective duration not exceeding eight years, positioning it within the intermediate-term segment of the municipal bond market. With over 500 holdings and fund assets exceeding $2 billion, the fund offers broad exposure and risk diversification within the municipal bond sector. Monthly dividend distributions and a focus on tax-exempt income make it a significant option for investors seeking stable cash flow with lower interest rate sensitivity than long-term bond funds. Launched in 2000, the fund plays a vital role in providing federally tax-exempt income and serves as a core fixed income holding for individuals and institutions looking to balance yield and risk in their portfolios.
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