NYLAX

About NYLAX

The Lord Abbett New York Tax Free Fund Class C is a mutual fund designed to provide investors with regular income that is exempt from federal, New York State, and New York City personal income taxes. Its primary purpose is to maximize tax-exempt interest income consistent with reasonable risk, making it particularly relevant for residents of New York seeking municipal bond exposure for tax-advantaged income. The fund primarily invests at least 80% of its net assets in a diversified portfolio of municipal bonds issued by entities within New York State. These holdings include both insured and uninsured municipal securities, and the fund may also allocate a portion to bonds subject to the federal alternative minimum tax. Managed by an experienced investment team, the fund typically holds several hundred municipal securities across sectors such as transportation, healthcare, and education. With monthly dividend distributions and a $1,000 minimum initial investment, the fund serves as a specialized vehicle within the broader municipal debt sector, contributing to capital preservation and offering targeted state-specific tax benefits to its investors.