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: FinancialCounselNon-rated Bonds in Municipal Bond Funds Can Create a ?Red Flag? for Investors
By James Eccleston
Investors should exercise caution when selecting a municipal bond fund with more than 1/3 of their total assets invested in non-rated bonds. According to industry experts, it is a red flag if a fund carries more than 1/3 of its assets in non-rated bonds.
Below is a list of the top ten funds with the largest allocations of non-rated bonds:
|
Fund name |
% Credit quality not rated |
Fund assets ($ in m) |
|||||||||
|
Invesco High Income Municipal A |
|
|
|
|
|
|
|
|
64.3 |
587.9 |
|
|
Invesco Van Kampen High Yld Municipal A |
|
|
|
|
|
|
|
|
61.3 |
4,994.5 |
|
|
Nuveen High Yield Municipal Bond A |
|
|
|
|
|
|
|
|
46.9 |
4,242.6 |
|
|
Waddell & Reed Muni Hi-Inc A |
|
|
|
|
|
|
|
|
44.9 |
625.3 |
|
|
Oppenheimer Rochester National Muni A |
|
|
|
|
|
|
|
|
43.0 |
5,282.8 |
|
|
Pioneer High Income Municipal A |
|
|
|
|
|
|
|
|
41.1 |
608.4 |
|
|
Lord Abbett High Yield Municipal Bond A |
|
|
|
|
|
|
|
|
40.2 |
1,561.0 |
|
|
Ivy Municipal High Income I |
|
|
|
|
|
|
|
|
39.2 |
302.5 |
|
|
Oppenheimer AMT-Free Municipals A |
|
|
|
|
|
|
|
|
38.0 |
2,020.1 |
|
|
Federated Municipal High Yield Adv F |
|
|
|
|
|
|
|
|
Full post as published by FinancialCounsel on February 28, 2011 (boomark / email). Related Law Articles Bail and Bail Bonds Lawsuits and Settlements HIV Funds Oppenheimer California Municipal Fund Oppenheimer California Municipal Fund TouchPlay Lottery Transit Technicians Scam Nine Figure Settlement Approved in American Investors Life Insurance Class Action Related Searches
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