Foresters Financial offers two national bond funds and 12 state-specific funds (see chart on page 3). Our national tax exempt funds seek a high level of interest income that is exempt from federal income tax and secondarily, for the Tax Exempt Opportunities Fund, total return. Each tax exempt fund also seeks income that is not a tax preference item for the purpose of the Alternative Minimum Tax (“AMT”). Our single state tax exempt funds each seeks a high level of interest income that is exempt from both federal and state income tax for individual residents of a particular state.
Municipal bonds investment process brochure
Municipal Bond Taxable Equivalent Yields
First Investors Tax Exempt Income Fund Fact Sheet - ★ ★ ★ ★ Overall Morningstar RatingTM 1
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1 Source 5/31/18. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk- Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. First Investors Tax Exempt Income Fund was rated against the following numbers of U.S.-domiciled Muni National Intermediate funds over the following time periods: 256 during prior 3-year period funds in the last three years, 228 during the prior 5-year period funds in the last five years, and 150 during the prior 10-year period funds in the last 10 years. With respect to these Muni National Intermediate funds, First Investors Tax Exempt Income Fund received a Morningstar Rating of 4 stars for 3-year rating stars, 4 stars for 5-year rating stars and 4 stars for 10-year rating stars for the three-, five- and 10-year periods, respectively. Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. Ratings may vary among share classes and are based on past performance. Past performance is no guarantee of future results.
Morningstar Rating is for the A share class only; other classes may have different performance characteristics.