SEI Tax-Exempt Trust Pennsylvania Municipal Bond Fund Class Y is a tax-exempt municipal bond mutual fund focused on generating current income free from federal and Pennsylvania state income taxes while emphasizing capital preservation. The fund primarily invests at least 80% of assets in investment-grade Pennsylvania municipal securities, including general obligation and revenue bonds, notes, and short-term paper that finance public projects such as infrastructure, education, and essential services across the state. Its mandate aligns with the Pennsylvania municipal category, which targets issuers within the state to deliver double tax-exempt income for residents. Managed within SEI’s multi-manager framework, the strategy balances credit quality and duration to navigate interest-rate and credit cycles typical of the municipal market. The fund’s role in the market is to provide a dedicated Pennsylvania tax-advantaged income solution, offering diversified exposure to the state’s municipal credit base relative to broad municipal benchmarks and peer funds. By concentrating on investment-grade issuers and adhering to tax-exempt objectives, it serves investors seeking steady, tax-efficient income tied to Pennsylvania’s fiscal ecosystem.
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