The Aspiriant Risk-Managed Municipal Bond Fund is an actively managed mutual fund focused on generating a total return through income exempt from regular federal income taxes, complemented by opportunities for capital appreciation. Its primary function is to invest at least 80% of its assets in municipal bonds issued by U.S. states, local governments, their agencies, and U.S. territories, with an emphasis on risk management strategies. The fund features a flexible mandate, allowing investments across all types of municipal securities, including general obligation and revenue bonds of varying maturities and credit qualities—ranging from high-yield (below investment grade) to investment-grade instruments. In addition, it may utilize derivatives and pooled investment vehicles for hedging or exposure management. With quarterly dividend distributions and a substantial, diversified portfolio—comprising over 900 holdings—the fund serves investors seeking stable tax-exempt income while aiming to mitigate downside risk in the municipal bond market. Its strategic allocation and active management underpin its role as a tool for diversification and risk-adjusted yield within fixed income portfolios, particularly for those prioritizing federal tax-exempt income and broad municipal sector exposure.
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