SMBCX

About SMBCX

Saratoga Municipal Bond Fund Class C is an open-end municipal bond mutual fund focused on generating a high level of interest income that is generally exempt from federal income tax. The portfolio primarily invests in investment-grade securities issued by state and local governments and related entities, aligning with the muni national intermediate category’s typical duration profile of roughly four to six years to balance income with interest-rate sensitivity. The strategy spreads holdings across multiple states and sectors to diversify issuer and sector risk, consistent with category practices. The fund’s objective emphasizes prudent risk management and preservation of capital while seeking tax-exempt income, and it may maintain cash or ultra-short municipal exposures to manage liquidity and duration. Within its peer group, it has exhibited lower recent yield relative to category averages, reflecting a conservative income posture rather than a reach for higher credit risk. As part of the broader U.S. municipal market, the fund serves investors seeking federally tax-advantaged income and intermediate-term exposure to public finance projects such as infrastructure, education, and essential services.