The fund actively invests in a portfolio of Canadian municipal bonds dominated in CAD. The advisor uses credit analysis and fundamental credit research in selecting securities and maintaining diversification over issuers, however, the fund tilts more heavily towards Qubec municipal bonds due to the large number of Qubec issuers in the Canadian market. In seeking to achieve a liquid portfolio, the fund may also hold cash and cash equivalents or debt obligations issued or guaranteed by the government of Canada up to 20% of the portfolio. Since the fund is actively managed, allocation and maturity is at the discretion of the manager. The fund is designed for investors who are seeking a high level of income from a diversified portfolio delivering efficient exposure to the potential of municipal bonds issued in Canada.