All investments involve risks including the risk of possible loss of principal. The market value of a fund's portfolio may decline as a result of a number of factors, including volatility of the municipal bond market, interest rate risk, credit risk, and inflation/deflation risk. The fund may invest up to 20% of its net assets in taxable municipal bonds, which are substantially similar to municipal bonds as described in the prospectus except that the interest from taxable municipal bonds is not exempt from federal income tax and may also be subject to federal AMT.
Some shareholders may be subject to state and/or local taxes. For more information consult your tax advisor. Please see the prospectus for a full description of the risks associated with the fund.
Schroder Investment Management North America Inc. is an indirect wholly owned subsidiary of Schroders plc and is an SEC registered investment adviser providing asset management products and services to clients in the US and Canada. Our mutual funds are distributed by Schroder Fund Advisors LLC, a member of FINRA.
