PIMCO National Intermediate Municipal Bond Fund I-2 is an open‑end mutual fund focused on U.S. municipal debt. Its primary objective is to deliver maximum income that is exempt from regular federal income tax, investing at least 80% of assets in municipal securities whose interest is deemed tax‑exempt by bond counsel. The portfolio targets the intermediate segment of the muni market, typically emphasizing durations of roughly four to six years to balance income generation with interest‑rate sensitivity. Managed within the Muni National Intermediate category, the fund diversifies across states and public‑purpose sectors such as general obligation, essential services, transportation, and education to moderate credit and geographic risk. The strategy has been positioned against broad municipal benchmarks, with historical reporting showing competitive long‑term results versus category peers and the Bloomberg Municipal Index. Key structural features include a professional, multi‑manager approach and monthly distribution of tax‑advantaged income, reflecting the fund’s role as a core municipal allocation for investors seeking federally tax‑exempt cash flows within an intermediate duration profile.
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