Meaning of INSURED MUNICIPAL BOND FUNDS in English
- INSURED MUNICIPAL BOND FUNDS
Mutual funds that invest in insured bonds issued by cities, towns, states, toll roads, schools, water projects, and hospitals. The interest income is tax-free, and the bonds are insured against default by large private insurance companies, such as American Municipal Pond Assurance Corp. (AMRAC) and Municipal Bond Insurance Association (MBIA).
Mutual Fund English Glossary. Английский глоссарий взаимных и инвестиционных фондов. 2012