Series 53: 4.1.5. Municipal Fund Securities

Taken from our Series 53 Online Guide

4.1.5. Municipal Fund Securities

A municipal fund security is a fund of securities that is issued by a state or municipality. Investments in a municipal fund security may consist of a wide variety of securities, including corporate stocks and bonds and government securities of every stripe. It is not to be confused with a municipal bond fund, which is a mutual fund consisting of municipal bonds. A municipal fund security is distinguished from the typical investment company by its issuer.

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