DEFFX – Nomura Tax-Free Minnesota A Investment Strategy | Morningstar

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Strategy

The investment seeks as high a level of current income exempt from federal income tax and from Minnesota state personal income taxes as is consistent with preservation of capital. Under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in municipal securities the income from which is exempt from federal income tax, including the federal alternative minimum tax, and from Minnesota state personal income taxes. It will generally have a dollar-weighted average effective maturity of between 5 and 30 years.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
DMNIX	Nomura Tax-Free Minnesota Fund Institutional Class	Institutional	Open			Dec 31, 2013	$235.49M	0.560%	Average	—	−$8.12M
DEFFX	Nomura Tax-Free Minnesota Fund Class A	Front Load	Open			Feb 27, 1984	$238.71M	0.810%	Average	$1,000	−$32.65M
DMOCX	Nomura Tax-Free Minnesota Fund Class C	Level Load	Open			May 4, 1994	$2.63M	1.560%	Average	$1,000	−$1.17M

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