The municipal securities team at First Trust sees ample investment opportunities in municipal bonds. In their view, credit fundamentals are improving for many municipal bond issuers and taxable equivalent yields are attractive relative to other fixed income asset classes. Given the rising interest rate environment as a result of stronger economic growth, they believe that, in the current market, positioning the funds along the shorter portion of the yield curve provides investors less interest rate sensitivity than longer duration portfolios.
Johnathan N. Wilhelm, Senior Vice President and Tom Futrell, CFA, Senior Vice President at First Trust, serve as senior portfolio managers of the funds. The two will share responsibilities for the day-to-day management of the funds’ investment portfolio.
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