Nuveen Arizona Municipal Bond Fund Class I is a mutual fund specializing in municipal fixed income securities. Its primary objective is to provide a high level of current interest income that is exempt from regular federal, Arizona state, and in some cases, local income taxes. The fund mainly invests in investment-grade municipal bonds issued by state and local governments within Arizona, which are typically used to finance public projects such as infrastructure, healthcare, and education. Up to 20% of its holdings may include below investment grade, or 'high yield,' municipal bonds in order to diversify sources of income and risk. The fund is categorized within the 'Muni Single State Long' sector and is designed for investors seeking tax-exempt income with a moderate level of interest rate and credit risk. Its portfolio is notable for its focus on Arizona institutions and agencies, supporting state development through municipal financing. The fund is typically chosen by institutional investors due to its minimum investment requirements and institutional share class structure.
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