![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Invesco Van Kampen Trust For Value Municipals | NYSE:VIM | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 15.15 | 0.00 | 01:00:00 |
OMB APPROVAL
|
||
OMB Number: 3235-0578
|
||
Expires: April 30, 2013
|
||
Estimated average burden hours per response: 5.6
|
||
|
||||
invesco.com/us | VK-CE-TIMUNI-QTR-1 05/12 | Invesco Advisers, Inc. |
Principal | ||||||||||||||||
Interest | Maturity | Amount | ||||||||||||||
Rate | Date | (000) | Value | |||||||||||||
Municipal Obligations155.23%
|
||||||||||||||||
Alabama2.89%
|
||||||||||||||||
Bessemer Governmental Utility Services Corp.; Series 2008 A, Ref. Water Supply RB (INS-AGC)
(a)(b)
|
5.00 | % | 06/01/39 | $ | 525 | $ | 557,991 | |||||||||
Birmingham (City of) Airport Authority; Series 2010, RB (INS-AGM)
(a)
|
5.25 | % | 07/01/30 | 800 | 887,992 | |||||||||||
Birmingham (City of) Water Works Board; Series 2011, Water RB (INS-AGM)
(a)(b)
|
5.00 | % | 01/01/36 | 1,815 | 1,987,806 | |||||||||||
Selma (City of) Industrial Development Board; Series 2009 A, Gulf Opportunity Zone RB
|
6.25 | % | 11/01/33 | 500 | 556,970 | |||||||||||
|
||||||||||||||||
|
3,990,759 | |||||||||||||||
|
||||||||||||||||
Alaska0.67%
|
||||||||||||||||
Alaska (State of) Industrial Development & Export Authority (Providence Health Services); Series 2011 A, RB
(b)
|
5.50 | % | 10/01/41 | 810 | 919,690 | |||||||||||
|
||||||||||||||||
Arizona2.24%
|
||||||||||||||||
Arizona (State of) Health Facilities Authority (Catholic Healthcare West); Series 2011 B-2, RB (INS-AGM)
(a)
|
5.00 | % | 03/01/41 | 435 | 464,341 | |||||||||||
Arizona (State of) Transportation Board;
|
||||||||||||||||
Series 2008 B, Highway RB
(b)
|
5.00 | % | 07/01/25 | 430 | 498,383 | |||||||||||
Series 2008 B, Highway RB
(b)
|
5.00 | % | 07/01/26 | 645 | 746,575 | |||||||||||
Maricopa (County of) Industrial Development Authority (Catholic Healthcare West); Series 2009 C, Health
Facilities RB
(c)(d)
|
5.00 | % | 07/01/14 | 575 | 617,286 | |||||||||||
Phoenix (City of) Industrial Development Authority (Career Success Schools); Series 2009, Education RB
|
7.00 | % | 01/01/29 | 735 | 771,000 | |||||||||||
|
||||||||||||||||
|
3,097,585 | |||||||||||||||
|
||||||||||||||||
California27.10%
|
||||||||||||||||
ABAG Finance Authority for Non-profit Corps. (Jewish Home of San Francisco); Series 2005, VRD RB (LOC-Wells Fargo
Bank N.A.)
(e)(f)
|
0.17 | % | 11/15/35 | 6,000 | 6,000,000 | |||||||||||
California (State of) Department of Water Resources (Central Valley);
|
||||||||||||||||
Series 2008 AE, Water System RB
(b)
|
5.00 | % | 12/01/24 | 200 | 237,308 | |||||||||||
Series 2008 AE, Water System RB
(b)
|
5.00 | % | 12/01/25 | 225 | 269,098 | |||||||||||
Series 2008 AE, Water System RB
(b)
|
5.00 | % | 12/01/26 | 225 | 269,098 | |||||||||||
Series 2008 AE, Water System RB
(b)
|
5.00 | % | 12/01/27 | 150 | 177,972 | |||||||||||
Series 2008 AE, Water System RB
(b)
|
5.00 | % | 12/01/28 | 225 | 264,893 | |||||||||||
California (State of) Housing Finance Agency;
|
||||||||||||||||
Series 2008 K, Home Mortgage RB
(g)
|
5.30 | % | 08/01/23 | 1,000 | 1,026,020 | |||||||||||
Series 2008 K, Home Mortgage RB
(g)
|
5.45 | % | 08/01/28 | 1,000 | 1,035,600 | |||||||||||
California (State of) Statewide Communities Development Authority (Kaiser Permanente); Series 2012 A, RB
|
5.00 | % | 04/01/42 | 1,050 | 1,137,728 | |||||||||||
California (State of) Statewide Communities Development Authority (Pooled Financing Program); Series 2004 A,
Water & Wastewater RB (INS-AGM)
(a)
|
5.25 | % | 10/01/19 | 1,565 | 1,669,495 | |||||||||||
California (State of);
|
||||||||||||||||
Series 2010, Various Purpose Unlimited Tax GO Bonds
|
5.50 | % | 03/01/40 | 905 | 1,023,274 | |||||||||||
Series 2012, Various Purpose Unlimited Tax GO Bonds
|
5.00 | % | 04/01/42 | 490 | 528,044 | |||||||||||
Series 2012, Various Purpose Unlimited Tax GO Bonds
|
5.25 | % | 04/01/35 | 490 | 550,598 | |||||||||||
California Infrastructure & Economic Development Bank (Pacific Gas & Electric Co.); Series 2009 B, Ref. VRD RB
(LOC-Mizuho Corporate Bank)
(e)(f)
|
0.15 | % | 11/01/26 | 1,000 | 1,000,000 | |||||||||||
Coachella (City of) Redevelopment Agency (Merged Project Areas); Series 2006 A, Sub. Tax Allocation RB
(INS-AMBAC)
(a)
|
5.25 | % | 09/01/36 | 3,390 | 3,434,104 | |||||||||||
Desert Community College District (Election of 2004); Series 2007 B, Unlimited Tax GO Bonds (INS-AGM)
(a)
|
5.00 | % | 08/01/32 | 500 | 544,140 | |||||||||||
East Bay Municipal Utility District; Series 2010 A, Ref. Sub. Water System RB
(b)
|
5.00 | % | 06/01/36 | 945 | 1,093,450 | |||||||||||
Regents of the University of California; Series 2005 B, Limited Project RB (INS-AGM)
(a)
|
5.00 | % | 05/15/30 | 2,000 | 2,081,240 | |||||||||||
Sacramento (City of) Financing Authority; Series 2005 A, Tax Allocation RB (INS-NATL)
(a)
|
5.00 | % | 12/01/34 | 3,000 | 3,019,590 | |||||||||||
San Diego Community College District (Election of 2006); Series 2011, Unlimited Tax GO Bonds
(b)
|
5.00 | % | 08/01/36 | 795 | 900,115 | |||||||||||
Southern California Metropolitan Water District; Series 2005 A, RB (INS-AGM)
(a)
|
5.00 | % | 07/01/35 | 1,000 | 1,099,820 |
Principal | ||||||||||||||||
Interest | Maturity | Amount | ||||||||||||||
Rate | Date | (000) | Value | |||||||||||||
California(continued)
|
||||||||||||||||
Southern California Public Power Authority (Mead-Adelanto); Series 2008 A, VRD RB
(e)
|
0.18 | % | 07/01/20 | $ | 2,000 | $ | 2,000,000 | |||||||||
Southern California Public Power Authority (Milford Wind Corridor Phase II); Series 2011-1, RB
(b)
|
5.25 | % | 07/01/29 | 1,950 | 2,307,591 | |||||||||||
Twin Rivers Unified School District (School Facility Bridge Funding Program); Series 2007, COP (INS-AGM)
(a)(c)(d)
|
3.50 | % | 05/31/13 | 1,000 | 1,001,210 | |||||||||||
Vernon (City of); Series 2009 A, Electric System RB
|
5.13 | % | 08/01/21 | 550 | 618,426 | |||||||||||
West Contra Costa Unified School District;
|
||||||||||||||||
Series 2005, Unlimited Tax CAB GO Bonds (INS-NATL)
(a)(h)
|
0.00 | % | 08/01/25 | 1,485 | 803,251 | |||||||||||
Series 2005, Unlimited Tax CAB GO Bonds (INS-NATL)
(a)(h)
|
0.00 | % | 08/01/26 | 1,350 | 688,014 | |||||||||||
West Sacramento (City of) Financing Authority; Series 2006 A, Special Tax RB (INS-SGI)
(a)
|
5.00 | % | 09/01/26 | 2,500 | 2,679,325 | |||||||||||
|
||||||||||||||||
|
37,459,404 | |||||||||||||||
|
||||||||||||||||
Colorado3.84%
|
||||||||||||||||
Colorado (State of) Educational & Cultural Facilities Authority (Challenge to Excellence Charter School); Series 2007, Ref. Charter
School RB (INS-AGC)
(a)
|
5.00 | % | 06/01/37 | 2,500 | 2,614,000 | |||||||||||
Colorado (State of) Health Facilities Authority (Catholic Health); Series 2006 C5, RB (INS-AGM)
(a)(b)
|
5.00 | % | 09/01/36 | 1,200 | 1,271,388 | |||||||||||
Denver (City of) Convention Center Hotel Authority; Series 2006, Ref. Sr. RB (INS-SGI)
(a)
|
5.00 | % | 12/01/35 | 1,400 | 1,427,146 | |||||||||||
|
||||||||||||||||
|
5,312,534 | |||||||||||||||
|
||||||||||||||||
Connecticut1.01%
|
||||||||||||||||
Connecticut (State of) Development Authority (Aquarion Water Co.); Series 2007, Ref. Water Facilities RB (INS-SGI)
(a)(g)
|
5.10 | % | 09/01/37 | 1,375 | 1,400,547 | |||||||||||
|
||||||||||||||||
District of Columbia1.35%
|
||||||||||||||||
District of Columbia (Sibley Memorial Hospital); Series 2009, Hospital RB
|
6.50 | % | 10/01/29 | 1,000 | 1,173,780 | |||||||||||
District of Columbia Water & Sewer Authority;
|
||||||||||||||||
Series 2008 A, Ref. Public Utility Sub. Lien RB (INS-AGC)
(a)(b)
|
5.00 | % | 10/01/29 | 250 | 281,475 | |||||||||||
Series 2008 A, Ref. Public Utility Sub. Lien RB (INS-AGC)
(a)(b)
|
5.00 | % | 10/01/34 | 375 | 416,239 | |||||||||||
|
||||||||||||||||
|
1,871,494 | |||||||||||||||
|
||||||||||||||||
Florida15.47%
|
||||||||||||||||
Broward (County of); Series 2012 A, Water & Sewer Utility RB
|
5.00 | % | 10/01/37 | 585 | 670,627 | |||||||||||
Cape Coral (City of); Series 2011, Ref. Water & Sewer RB
(INS-AGM) (a) |
5.00 | % | 10/01/41 | 870 | 961,063 | |||||||||||
Citizens Property Insurance Corp. (High Risk Account); Series 2010 A-1, Sr. Sec. RB
|
5.00 | % | 06/01/14 | 1,000 | 1,078,760 | |||||||||||
Escambia (County of) Health Facilities Authority (Florida Health Care Facility Loan Veterans Health Administration Program); Series
2000, RB (INS-AMBAC)
(a)
|
5.95 | % | 07/01/20 | 135 | 141,488 | |||||||||||
Florida (State of) Board of Education; Series 2007 B, Lottery RB (INS-BHAC)
(a)
|
5.00 | % | 07/01/27 | 6,000 | 6,644,760 | |||||||||||
Hillsborough (County of) Aviation Authority;
|
||||||||||||||||
Series 2008 A, RB (INS-AGC)
(a)(b)(g)
|
5.38 | % | 10/01/33 | 250 | 267,535 | |||||||||||
Series 2008 A, RB (INS-AGC)
(a)(b)(g)
|
5.50 | % | 10/01/38 | 550 | 589,210 | |||||||||||
Martin (County of) Health Facilities Authority (Martin Memorial Medical Center); Series 2012, RB
|
5.00 | % | 11/15/27 | 920 | 962,016 | |||||||||||
Miami-Dade (County of) (Miami International Airport);
|
||||||||||||||||
Series 2002, Aviation RB (INS-AGC)
(a)(g)
|
5.38 | % | 10/01/27 | 2,000 | 2,012,760 | |||||||||||
Series 2004, Aviation RB (INS-AGC)
(a)(g)
|
4.75 | % | 10/01/36 | 1,030 | 1,042,525 | |||||||||||
Series 2005, Aviation RB (INS-AGC)
(a)(g)
|
5.00 | % | 10/01/38 | 790 | 808,312 | |||||||||||
Miami-Dade (County of) Educational Facilities Authority (University of Miami); Series 2008 A, RB (INS-BHAC)
(a)
|
5.50 | % | 04/01/38 | 1,370 | 1,513,850 | |||||||||||
Miami-Dade (County of) Expressway Authority; Series 2010 A, Ref. Toll System RB (INS-AGM)
(a)
|
5.00 | % | 07/01/35 | 720 | 788,810 | |||||||||||
Miami-Dade (County of); Series 2010, Water & Sewer System RB (INS-AGM)
(a)
|
5.00 | % | 10/01/39 | 1,000 | 1,100,350 | |||||||||||
Palm Beach (County of) Solid Waste Authority;
|
||||||||||||||||
Series 2009, Improvement RB (INS-BHAC)
(a)(b)
|
5.50 | % | 10/01/23 | 750 | 916,463 | |||||||||||
Series 2011, Ref. RB
(b)
|
5.00 | % | 10/01/31 | 660 | 752,030 | |||||||||||
Putnam (County of) Development Authority (Seminole Electric Cooperative); Series 2007 A, Ref. PCR (INS-AMBAC)
(a)(c)(d)
|
5.35 | % | 05/01/18 | 1,000 | 1,131,490 | |||||||||||
|
||||||||||||||||
|
21,382,049 | |||||||||||||||
|
Principal | ||||||||||||||||
Interest | Maturity | Amount | ||||||||||||||
Rate | Date | (000) | Value | |||||||||||||
Georgia6.07%
|
||||||||||||||||
Atlanta (City of); Series 2010 A, General Airport RB (INS-AGM)
(a)
|
5.00 | % | 01/01/35 | $ | 2,000 | $ | 2,193,360 | |||||||||
Fulton (County of) Development Authority (Georgia Tech Athletic Association); Series 2012, Ref. RB
|
5.00 | % | 10/01/42 | 300 | 326,100 | |||||||||||
Metropolitan Atlanta Rapid Transit Authority; Series 2007 B, Ref. Third Indenture Sales Tax RB (INS-AGM)
(a)
|
5.00 | % | 07/01/34 | 660 | 738,362 | |||||||||||
Newton (County of) Industrial Development Authority (GPC Foundation Real Estate Newton, LLC Academic Building Newton
Campus); Series 2005, RB (INS-AGC)
(a)
|
5.00 | % | 06/01/34 | 2,000 | 2,084,140 | |||||||||||
Private Colleges & Universities Authority (Emory University); Series 2009 B, RB
(b)
|
5.00 | % | 09/01/29 | 2,000 | 2,286,100 | |||||||||||
Private Colleges & Universities Authority (Mercer University);
|
||||||||||||||||
Series 2012 A, RB
|
5.00 | % | 10/01/32 | 250 | 262,537 | |||||||||||
Series 2012 A, RB
|
5.25 | % | 10/01/27 | 455 | 493,011 | |||||||||||
|
||||||||||||||||
|
8,383,610 | |||||||||||||||
|
||||||||||||||||
Illinois14.33%
|
||||||||||||||||
Bolingbrook (Village of); Series 1999 B, Unlimited Tax CAB GO Bonds (INS-NATL)
(a)(h)
|
0.00 | % | 01/01/32 | 725 | 245,833 | |||||||||||
Chicago (City of) (OHare International Airport); Series 2003 B-2, Third Lien General Airport RB (INS-AGM)
(a)(g)
|
5.75 | % | 01/01/22 | 5,000 | 5,269,400 | |||||||||||
Chicago (City of) Board of Education; Series 2008 C, Ref. Unlimited Tax GO Bonds (INS-AGM)
(a)(b)
|
5.00 | % | 12/01/27 | 1,925 | 2,127,722 | |||||||||||
Chicago (City of) Transit Authority; Series 2011, Sales Tax Receipts RB
(b)
|
5.25 | % | 12/01/36 | 975 | 1,099,703 | |||||||||||
Chicago (City of);
|
||||||||||||||||
Series 2008 A, Unlimited Tax GO Bonds (INS-AGC)
(a)(b)
|
5.25 | % | 01/01/24 | 1,000 | 1,135,480 | |||||||||||
Series 2008 A, Unlimited Tax GO Bonds (INS-AGC)
(a)(b)
|
5.25 | % | 01/01/25 | 1,000 | 1,129,380 | |||||||||||
Series 2012 A, Unlimited Tax GO Bonds
|
5.00 | % | 01/01/33 | 700 | 772,541 | |||||||||||
Illinois (State of) Finance Authority (Loyola University of Chicago); Series 2012 B, RB
|
5.00 | % | 07/01/42 | 1,000 | 1,085,300 | |||||||||||
Illinois (State of) Finance Authority (Resurrection Health Care); Series 1999 A, RB (INS-AGM)
(a)
|
5.50 | % | 05/15/24 | 3,000 | 3,245,220 | |||||||||||
Illinois (State of) Finance Authority (Robert Morris College); Series 2000, RB (INS-NATL)
(a)
|
5.80 | % | 06/01/30 | 1,000 | 1,001,150 | |||||||||||
Illinois (State of) Finance Authority (Sherman Health System); Series 2007 A, RB
|
5.50 | % | 08/01/37 | 1,000 | 1,034,170 | |||||||||||
Peoria (County of); Series 2011, Unlimited Tax GO Bonds
(b)
|
5.00 | % | 12/15/41 | 600 | 649,116 | |||||||||||
Railsplitter Tobacco Settlement Authority; Series 2010, RB
|
5.50 | % | 06/01/23 | 880 | 1,015,608 | |||||||||||
|
||||||||||||||||
|
19,810,623 | |||||||||||||||
|
||||||||||||||||
Indiana5.07%
|
||||||||||||||||
Indiana (State of) Finance Authority (Ascension Health Senior Credit); Series 2006 B-6, RB
(b)
|
5.00 | % | 11/15/36 | 4,600 | 4,840,580 | |||||||||||
Indiana (State of) Finance Authority (Ohio Valley Electric Corp.); Series 2012 A, Midwestern Disaster Relief RB
|
5.00 | % | 06/01/32 | 250 | 252,530 | |||||||||||
New Albany Floyd County School Building Corp.; Series 2005, Ref. First Mortgage RB (INS-AGM)
(a)
|
5.00 | % | 07/15/25 | 1,800 | 1,920,276 | |||||||||||
|
||||||||||||||||
|
7,013,386 | |||||||||||||||
|
||||||||||||||||
Iowa1.23%
|
||||||||||||||||
Iowa (State of) Finance Authority (Iowa Health System); Series 2008 A, Health Facilities RB (INS-AGC)
(a)
|
5.25 | % | 08/15/29 | 1,500 | 1,697,955 | |||||||||||
|
||||||||||||||||
Kentucky2.45%
|
||||||||||||||||
Kentucky (State of) Economic Development Finance Authority (Louisville Arena Authority, Inc.); Subseries 2008 A-1, RB
(INS-AGC)
(a)
|
6.00 | % | 12/01/42 | 1,000 | 1,086,040 | |||||||||||
Kentucky (State of) Economic Development Finance Authority (Owensboro Medical Health System, Inc.) Series 2010 B, Ref.
Hospital RB
|
6.38 | % | 03/01/40 | 1,985 | 2,295,494 | |||||||||||
|
||||||||||||||||
|
3,381,534 | |||||||||||||||
|
||||||||||||||||
Louisiana1.77%
|
||||||||||||||||
Lafayette (City of) Public Trust Financing Authority (Ragin Cajun Facilities, Inc.-Housing & Parking); Series 2010, RB
(INS-AGM)
(a)
|
5.50 | % | 10/01/35 | 960 | 1,082,525 | |||||||||||
Louisiana Citizens Property Insurance Corp.; Series 2006 B, Assessment RB (INS-AMBAC)
(a)
|
5.00 | % | 06/01/20 | 1,000 | 1,105,970 | |||||||||||
St. Charles (Parish of) (Valero Energy Corp.); Series 2010, Gulf Opportunity Zone RB
(c)(d)
|
4.00 | % | 06/01/22 | 250 | 256,425 | |||||||||||
|
||||||||||||||||
|
2,444,920 | |||||||||||||||
|
Principal | ||||||||||||||||
Interest | Maturity | Amount | ||||||||||||||
Rate | Date | (000) | Value | |||||||||||||
Michigan2.11%
|
||||||||||||||||
Detroit (City of); Series 2003 B, Sr. Lien Sewage Disposal System RB (INS-AGM)
(a)
|
7.50 | % | 07/01/33 | $ | 1,250 | $ | 1,578,700 | |||||||||
Monroe County Economic Development Corp. (Detroit Edison Co.); Series 1992 AA, Ref. RB (INS-NATL)
(a)
|
6.95 | % | 09/01/22 | 1,000 | 1,342,380 | |||||||||||
|
||||||||||||||||
|
2,921,080 | |||||||||||||||
|
||||||||||||||||
Minnesota0.44%
|
||||||||||||||||
Minneapolis (City of) (Fairview Health Services); Series 2008 A, Health Care System RB
|
6.38 | % | 11/15/23 | 500 | 602,625 | |||||||||||
|
||||||||||||||||
Missouri2.24%
|
||||||||||||||||
Kansas City (City of) Industrial Development Authority (Downtown Redevelopment District);
|
||||||||||||||||
Series 2011 A, Ref. RB
|
5.50 | % | 09/01/24 | 175 | 210,903 | |||||||||||
Series 2011 A, Ref. RB
|
5.50 | % | 09/01/25 | 305 | 364,057 | |||||||||||
Series 2011 A, Ref. RB
|
5.50 | % | 09/01/27 | 200 | 235,552 | |||||||||||
Missouri (State of) Joint Municipal Electric Utility Commission (Plum Point); Series 2006, Power
Project RB (INS-NATL)
(a)
|
5.00 | % | 01/01/21 | 1,000 | 1,066,220 | |||||||||||
Nixa (City of); Series 2005, Electric System RB
(c)(i)
|
5.00 | % | 04/01/13 | 1,175 | 1,219,063 | |||||||||||
|
||||||||||||||||
|
3,095,795 | |||||||||||||||
|
||||||||||||||||
Nebraska2.53%
|
||||||||||||||||
Nebraska (State of) Investment Finance Authority (Summit Club Apartments); Series 1997, MFH RB
(c)(g)
|
5.70 | % | 07/10/12 | 220 | 220,686 | |||||||||||
Nebraska (State of) Municipal Energy Agency; Series 2009 A, Ref. Power Supply System RB (INS-BHAC)
(a)
|
5.13 | % | 04/01/29 | 1,000 | 1,144,250 | |||||||||||
Nebraska (State of) Public Power District; Series 2007 B, General RB (INS-BHAC)
(a)
|
5.00 | % | 01/01/37 | 2,000 | 2,127,520 | |||||||||||
|
||||||||||||||||
|
3,492,456 | |||||||||||||||
|
||||||||||||||||
Nevada4.92%
|
||||||||||||||||
Clark (County of) (Las Vegas-McCarran International Airport); Series 2010 A, Passenger Facility
Charge RB (INS-AGM)
(a)
|
5.25 | % | 07/01/39 | 1,000 | 1,104,780 | |||||||||||
Clark (County of) (Southwest Gas Corp.); Series 2004 A, IDR (INS-AMBAC)
(a)(g)
|
5.25 | % | 07/01/34 | 4,000 | 4,038,920 | |||||||||||
Nevada (State of) (Municipal Bond Bank R9A Thru R13F); Series 2005, Limited Tax GO Bonds (INS-AGM)
(a)
|
5.00 | % | 12/01/23 | 1,500 | 1,655,685 | |||||||||||
|
||||||||||||||||
|
6,799,385 | |||||||||||||||
|
||||||||||||||||
New Hampshire0.79%
|
||||||||||||||||
Manchester (City of); Series 2009 A, Ref. General Airport RB (INS-AGM)
(a)
|
5.13 | % | 01/01/30 | 1,000 | 1,095,090 | |||||||||||
|
||||||||||||||||
New Jersey2.33%
|
||||||||||||||||
New Jersey (State of) Economic Development Authority; Series 2007 U, School Facilities RB (INS-AGM)
(a)(b)
|
5.00 | % | 09/01/32 | 3,000 | 3,222,150 | |||||||||||
|
||||||||||||||||
New Mexico0.30%
|
||||||||||||||||
New Mexico (State of) Hospital Equipment Loan Council (Presbyterian Health Care Services); Series
2008 A, Hospital RB
(b)
|
6.38 | % | 08/01/32 | 350 | 416,143 | |||||||||||
|
||||||||||||||||
New York4.37%
|
||||||||||||||||
Long Island Power Authority; Series 2011 A, Electric System General RB (INS-AGM)
(a)
|
5.00 | % | 05/01/36 | 1,045 | 1,154,453 | |||||||||||
New York & New Jersey (States of) Port Authority (JFK International Air Terminal LLC); Series 1997 6,
Special Obligation RB
(INS-NATL) (a)(g) |
5.75 | % | 12/01/25 | 3,000 | 3,000,330 | |||||||||||
New York (State of) Dormitory Authority (City of New York); Series 2005 A, Court Facilities Lease RB
(INS-AMBAC)
(a)
|
5.50 | % | 05/15/28 | 600 | 760,566 | |||||||||||
New York (State of) Thruway Authority; Series 2011 A-1, Second General Highway & Bridge Trust Fund RB
(b)
|
5.00 | % | 04/01/29 | 960 | 1,124,640 | |||||||||||
|
||||||||||||||||
|
6,039,989 | |||||||||||||||
|
||||||||||||||||
North Carolina2.37%
|
||||||||||||||||
Brunswick (County of); Series 2004 A, Enterprise System RB
(c)(i)
|
5.25 | % | 04/01/14 | 1,585 | 1,726,651 | |||||||||||
North Carolina (State of) Turnpike Authority; Series 2009 A, Triangle Expressway System RB (INS-AGC)
(a)
|
5.13 | % | 01/01/24 | 1,355 | 1,548,860 | |||||||||||
|
||||||||||||||||
|
3,275,511 | |||||||||||||||
|
Principal | ||||||||||||||||
Interest | Maturity | Amount | ||||||||||||||
Rate | Date | (000) | Value | |||||||||||||
Ohio3.79%
|
||||||||||||||||
Erie (County of) (Firelands Regional Medical Center); Series 2002 A, Hospital Facilities RB
|
5.63 | % | 08/15/32 | $ | 1,000 | $ | 1,012,520 | |||||||||
Lorain (County of) (Catholic Healthcare Partners);
|
||||||||||||||||
Series 2003 C-1, Ref. Hospital Facilities RB (INS-AGM)
(a)(b)
|
5.00 | % | 04/01/24 | 775 | 862,707 | |||||||||||
Series 2006 A, Hospital Facilities RB (INS-AGM)
(a)(b)
|
5.00 | % | 02/01/24 | 725 | 807,433 | |||||||||||
Series 2006 B, Hospital Facilities RB (INS-AGM)
(a)(b)
|
5.00 | % | 02/01/24 | 750 | 835,305 | |||||||||||
Ohio (State of) Air Quality Development Authority (FirstEnergy Generation Corp.); Series 2009 C, Ref. PCR
|
5.63 | % | 06/01/18 | 1,000 | 1,154,610 | |||||||||||
Ohio (State of) Water Development Authority (FirstEnergy Nuclear Generation Corp.); Series 2009 A, Ref. PCR
(c)(d)
|
5.88 | % | 06/01/16 | 500 | 565,645 | |||||||||||
|
||||||||||||||||
|
5,238,220 | |||||||||||||||
|
||||||||||||||||
Oklahoma1.00%
|
||||||||||||||||
Tulsa (City of) Airports Improvement Trust; Series 2000 A, General RB (INS-NATL)
(a)(g)
|
6.00 | % | 06/01/20 | 1,250 | 1,388,187 | |||||||||||
|
||||||||||||||||
Pennsylvania0.40%
|
||||||||||||||||
Pittsburgh (City of) & Allegheny (County of) Sports & Exhibition Authority (Regional Asset District); Series 2010, Ref. Sales
Tax RB (INS-AGM)
(a)
|
5.00 | % | 02/01/31 | 500 | 554,165 | |||||||||||
|
||||||||||||||||
Puerto Rico0.79%
|
||||||||||||||||
Puerto Rico (Commonwealth of) Aqueduct & Sewer Authority;
|
||||||||||||||||
Series 2012 A, Sr. Lien RB
|
5.00 | % | 07/01/33 | 475 | 478,534 | |||||||||||
Series 2012 A, Sr. Lien RB
|
5.25 | % | 07/01/42 | 325 | 327,389 | |||||||||||
Series 2012 A, Sr. Lien RB
|
6.00 | % | 07/01/47 | 260 | 280,917 | |||||||||||
|
||||||||||||||||
|
1,086,840 | |||||||||||||||
|
||||||||||||||||
Rhode Island0.63%
|
||||||||||||||||
Rhode Island Economic Development Corp.; Series 1994 A, Airport RB (INS-AGM)
(a)(g)
|
7.00 | % | 07/01/14 | 830 | 865,947 | |||||||||||
|
||||||||||||||||
South Carolina8.86%
|
||||||||||||||||
Dorchester County School District No. 2 (Growth); Series 2006, Installment Purchase RB (INS-AGC)
(a)
|
5.00 | % | 12/01/29 | 4,000 | 4,434,440 | |||||||||||
Piedmont Municipal Power Agency; Series 2011 C, Ref. Electric RB (INS-AGC)
(a)
|
5.75 | % | 01/01/34 | 1,590 | 1,865,595 | |||||||||||
South Carolina (State of) Jobs-Economic Development Authority (AnMed Health); Series 2009 B, Ref. & Improvement Hospital RB
(INS-AGC)
(a)
|
5.38 | % | 02/01/29 | 1,000 | 1,112,780 | |||||||||||
South Carolina (State of) Jobs-Economic Development Authority (Electric & Gas Co.); Series 2002 B, IDR (INS-AMBAC)
(a)(g)
|
5.45 | % | 11/01/32 | 3,750 | 3,769,800 | |||||||||||
South Carolina (State of) Jobs-Economic Development Authority (Palmetto Health Alliance); Series 2003 A, Ref. Hospital
Facilities RB
|
6.25 | % | 08/01/31 | 1,000 | 1,056,220 | |||||||||||
|
||||||||||||||||
|
12,238,835 | |||||||||||||||
|
||||||||||||||||
South Dakota0.98%
|
||||||||||||||||
South Dakota (State of) Health & Educational Facilities Authority (Vocational Education Program);
|
||||||||||||||||
Series 1998 A, RB (INS-AMBAC)
(a)
|
5.40 | % | 08/01/13 | 245 | 246,543 | |||||||||||
Series 2008, RB (INS-AGC)
(a)
|
5.50 | % | 08/01/38 | 1,000 | 1,109,140 | |||||||||||
|
||||||||||||||||
|
1,355,683 | |||||||||||||||
|
||||||||||||||||
Tennessee1.24%
|
||||||||||||||||
Memphis Center City Revenue Finance Corp. (Pyramid & Pinch District Redevelopment); Series 2011 B, Sub. RB (INS-AGM)
(a)
|
5.25 | % | 11/01/30 | 525 | 607,960 | |||||||||||
Shelby (County of) Health, Educational & Housing Facilities Board (Methodist Healthcare); Series 2004 B, RB (INS-AGM)
(a)(b)
|
5.25 | % | 09/01/27 | 1,000 | 1,101,210 | |||||||||||
|
||||||||||||||||
|
1,709,170 | |||||||||||||||
|
||||||||||||||||
Texas17.92%
|
||||||||||||||||
Dallas (City of) (Civic Center Convention Complex); Series 2009, Ref. & Improvement RB (INS-AGC)
(a)
|
5.00 | % | 08/15/19 | 1,000 | 1,181,510 | |||||||||||
Dallas-Fort Worth International Airport Facilities Improvement Corp.;
|
||||||||||||||||
Series 2001 A, Ref. & Improvement Joint RB (INS-NATL)
(a)(g)
|
5.88 | % | 11/01/17 | 570 | 572,143 | |||||||||||
Series 2001 A, Ref. & Improvement Joint RB (INS-NATL)
(a)(g)
|
5.88 | % | 11/01/18 | 425 | 426,598 | |||||||||||
Series 2001 A, Ref. & Improvement RB (INS-BHAC)
(a)(g)
|
5.50 | % | 11/01/31 | 1,890 | 1,892,646 |
Principal | ||||||||||||||||
Interest | Maturity | Amount | ||||||||||||||
Rate | Date | (000) | Value | |||||||||||||
Texas(continued)
|
||||||||||||||||
El Paso (County of) Hospital District;
|
||||||||||||||||
Series 2008 A, Limited Tax GO Bonds (INS-AGC)
(a)
|
5.00 | % | 08/15/28 | $ | 2,000 | $ | 2,224,260 | |||||||||
Series 2008 A, Limited Tax GO Bonds (INS-AGC)
(a)(b)
|
5.00 | % | 08/15/37 | 1,350 | 1,456,151 | |||||||||||
Harris (County of) Metropolitan Transit Authority; Series 2011 A, Sales & Use Tax RB
(b)
|
5.00 | % | 11/01/36 | 750 | 847,598 | |||||||||||
Harris (County of); Series 2009 A, Sr. Lien Toll Road RB
(b)
|
5.00 | % | 08/15/32 | 1,500 | 1,709,190 | |||||||||||
Houston (City of); Series 2007 A, Ref. First Lien Combined Utility System RB (INS-AGM)
(a)(b)
|
5.00 | % | 11/15/36 | 2,025 | 2,257,268 | |||||||||||
Judson Independent School District; Series 2008, School Building Unlimited Tax GO Bonds (INS-AGC)
(a)(b)
|
5.00 | % | 02/01/37 | 1,000 | 1,058,940 | |||||||||||
Laredo Independent School District Public Facility Corp.;
|
||||||||||||||||
Series 2004 A, Lease RB (INS-AMBAC)
(a)
|
5.00 | % | 08/01/29 | 500 | 500,640 | |||||||||||
Series 2004 C, Lease RB (INS-AMBAC)
(a)
|
5.00 | % | 08/01/29 | 1,000 | 1,001,280 | |||||||||||
North Texas Tollway Authority; Series 2011 A, Special Projects System RB
(b)
|
5.50 | % | 09/01/36 | 750 | 884,175 | |||||||||||
San Jacinto River Authority (Groundwater Reduction Plan Division);
|
||||||||||||||||
Series 2011, Special Project RB (INS-AGM)
(a)
|
5.00 | % | 10/01/32 | 485 | 533,486 | |||||||||||
Series 2011, Special Project RB (INS-AGM)
(a)
|
5.00 | % | 10/01/37 | 525 | 572,507 | |||||||||||
Tarrant County Cultural Education Facilities Finance Corp. (CHRISTUS Health); Series 2008 A, Ref. RB (INS-AGC)
(a)
|
6.50 | % | 07/01/37 | 1,000 | 1,157,490 | |||||||||||
Tarrant County Health Facilities Development Corp. (Cook Childrens Medical Center); Series 2007 B, Ref. Hospital RB
(INS-AGM)
(a)
|
5.00 | % | 12/01/30 | 925 | 997,955 | |||||||||||
Texas (State of) Turnpike Authority (Central Texas Turnpike System); Series 2002 A, First Tier RB (INS-AMBAC)
(a)
|
5.50 | % | 08/15/39 | 5,000 | 5,017,050 | |||||||||||
Texas Private Activity Bond Surface Transportation Corp. (NTE Mobility Partners LLC North Tarrant Express Management Lanes);
Series 2009, Sr. Lien RB
|
6.88 | % | 12/31/39 | 400 | 469,708 | |||||||||||
|
||||||||||||||||
|
24,760,595 | |||||||||||||||
|
||||||||||||||||
Utah2.49%
|
||||||||||||||||
Utah (State of) Housing Corp.; Series 2007 E-1, Class I, Single Family Mortgage RB
(g)
|
5.25 | % | 01/01/39 | 980 | 993,132 | |||||||||||
Utah (State of) Transit Authority; Series 2008 A, Sales Tax RB (INS-AGM)
(a)(b)
|
5.00 | % | 06/15/36 | 2,200 | 2,443,034 | |||||||||||
|
||||||||||||||||
|
3,436,166 | |||||||||||||||
|
||||||||||||||||
Virginia0.27%
|
||||||||||||||||
Virginia (State of) Small Business Financing Authority (Elizabeth River Crossings Opco, LLC); Series 2012, Sr. Lien RB
(g)
|
5.50 | % | 01/01/42 | 360 | 378,472 | |||||||||||
|
||||||||||||||||
Washington5.79%
|
||||||||||||||||
Seattle (Port of); Series 2012 A, Ref. Intermediate Lien RB
|
5.00 | % | 08/01/30 | 540 | 625,034 | |||||||||||
Washington (State of) Health Care Facilities Authority (MultiCare Health System); Series 2007 B, RB (INS-AGM)
(a)
|
5.50 | % | 08/15/38 | 4,000 | 4,346,040 | |||||||||||
West Valley School District No. 363; Series 2004, Unlimited Tax GO Bonds
(c)(i)
|
5.25 | % | 06/01/14 | 2,760 | 3,030,011 | |||||||||||
|
||||||||||||||||
|
8,001,085 | |||||||||||||||
|
||||||||||||||||
Wisconsin3.18%
|
||||||||||||||||
Wisconsin (State of) Health & Educational Facilities Authority (Mercy Alliance); Series 2012, RB
|
5.00 | % | 06/01/39 | 1,000 | 1,047,710 | |||||||||||
Wisconsin (State of) Health & Educational Facilities Authority (Ministry Health Care); Series 2012 C, Ref. RB
|
5.00 | % | 08/15/32 | 370 | 402,512 | |||||||||||
Wisconsin (State of) Housing & Economic Development Authority;
|
||||||||||||||||
Series 2008 A, Home Ownership RB
(b)(g)
|
5.30 | % | 09/01/23 | 1,000 | 1,084,340 | |||||||||||
Series 2008 A, Home Ownership RB
(b)(g)
|
5.50 | % | 09/01/28 | 103 | 109,667 | |||||||||||
Wisconsin (State of);
|
||||||||||||||||
Series 2004-3, Ref. Unlimited Tax GO Bonds
(c)(i)
|
5.25 | % | 05/01/14 | 1,445 | 1,578,316 | |||||||||||
Series 2004-3, Ref. Unlimited Tax GO Bonds (INS-NATL)
(a)
|
5.25 | % | 05/01/22 | 165 | 179,086 | |||||||||||
|
||||||||||||||||
|
4,401,631 | |||||||||||||||
|
||||||||||||||||
TOTAL INVESTMENTS
(j)
155.23% (Cost $200,114,026)
|
214,541,310 | |||||||||||||||
|
Value | ||||
FLOATING RATE NOTE OBLIGATIONS(19.21)%
|
||||
Notes with interest
rates ranging from
0.15% to 0.35% at
05/31/12 and
contractual maturities
of collateral ranging
from 09/01/23 to
12/15/41 (See Note 1D)
(k)
|
$ | (26,545,000 | ) | |
|
||||
OTHER ASSETS LESS LIABILITIES1.75%
|
2,416,327 | |||
|
||||
PREFERRED SHARES(37.77%)
|
(52,200,000 | ) | ||
|
||||
NET ASSETS APPLICABLE TO COMMON SHARES100.00%
|
$ | 138,212,637 | ||
|
AGC
|
| Assured Guaranty Corp. | ||
AGM
|
| Assured Guaranty Municipal Corp. | ||
AMBAC
|
| American Municipal Bond Assurance Corp. | ||
BHAC
|
| Berkshire Hathaway Assurance Corp. | ||
CAB
|
| Capital Appreciation Bonds | ||
COP
|
| Certificates of Participation | ||
GO
|
| General Obligation | ||
IDR
|
| Industrial Development Revenue Bonds | ||
INS
|
| Insurer | ||
LOC
|
| Letter of Credit | ||
MFH
|
| Multi-Family Housing | ||
NATL
|
| National Public Finance Guarantee Corp. | ||
PCR
|
| Pollution Control Revenue Bonds | ||
RB
|
| Revenue Bonds | ||
Ref.
|
| Refunding | ||
Sec.
|
| Secured | ||
SGI
|
| Syncora Guarantee, Inc. | ||
Sr.
|
| Senior | ||
Sub.
|
| Subordinated | ||
VRD
|
| Variable Rate Demand |
(a) | Principal and/or interest payments are secured by the bond insurance company listed. | |
(b) | Underlying security related to Dealer Trusts entered into by the Trust. See Note 1D. | |
(c) | Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put. | |
(d) | Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on May 31, 2012. | |
(e) | Demand security payable upon demand by the Fund at specified time intervals no greater than thirteen months. Interest rate is redetermined periodically. Rate shown is the rate in effect on May 31, 2012. | |
(f) | Principal and interest payments are fully enhanced by a letter of credit from the bank listed or a predecessor bank, branch or subsidiary. | |
(g) | Security subject to the alternative minimum tax. | |
(h) | Zero coupon bond issued at a discount. | |
(i) | Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral. | |
(j) | This table provides a listing of those entities that have either issued, guaranteed, backed or otherwise enhanced the credit quality of more than 5% of the securities held in the portfolio. In instances where the entity has guaranteed, backed or otherwise enhanced the credit quality of a security, it is not primarily responsible for the issuers obligations but may be called upon to satisfy the issuers obligations. |
Entities | Percentage | |||
Assured Guaranty Municipal Corp.
|
26.6 | % | ||
Assured Guaranty Corp.
|
15.3 | |||
American Municipal Bond Assurance Corp.
|
9.9 | |||
Berkshire Hathaway Assurance Corp.
|
6.6 | |||
National Public Finance Guarantee Corp.
|
6.4 | |||
(k) | Floating rate note obligations related to securities held. The interest rates shown reflect the rates in effect at May 31, 2012. At May 31, 2012, the Trusts investments with a value of $48,212,342 are held by Dealer Trusts and serve as collateral for the $26,545,000 in the floating rate note obligations outstanding at that date. |
A. | Security Valuations Securities, including restricted securities, are valued according to the following policy. | |
Securities are fair valued using an evaluated quote provided by an independent pricing service approved by the Board of Trustees. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices and may reflect appropriate factors such as institution-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, individual trading characteristics and other market data. Securities with a demand feature exercisable within one to seven days are valued at par. Debt securities are subject to interest rate and credit risks. In addition, all debt securities involve some risk of default with respect to interest and principal payments. | ||
Securities for which market quotations either are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trusts officers following procedures approved by the Board of Trustees. Some of the factors which may be considered in determining fair value are fundamental analytical data relating to the investment; the nature and duration of any restrictions on transferability or disposition; trading in similar securities by the same issuer or comparable companies; relevant political, economic or issuer specific news; and other relevant factors under the circumstances. | ||
Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuers assets, general economic conditions, interest rates, investor perceptions and market liquidity. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments. | ||
B. | Securities Transactions and Investment Income Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. Bond premiums and discounts are amortized and/or accreted for financial reporting purposes. | |
The Trust may periodically participate in litigation related to Trust investments. As such, the Trust may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held. | ||
Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Trusts net asset value and, accordingly, they reduce the Trusts total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Trust and the investment adviser. | ||
C. | Country Determination For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuers securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted. |
D. | Floating Rate Note Obligations The Trust invests in inverse floating rate securities, such as Residual Interest Bonds (RIBs) or Tender Option Bonds (TOBs) for investment purposes and to enhance the yield of the Trust. Inverse floating rate investments tend to underperform the market for fixed rate bonds in a rising interest rate environment, but tend to outperform the market for fixed rate bonds when interest rates decline or remain relatively stable. Such transactions may be purchased in the secondary market without first owning the underlying bond or by the sale of fixed rate bonds by the Trust to special purpose trusts established by a broker dealer (Dealer Trusts) in exchange for cash and residual interests in the Dealer Trusts assets and cash flows, which are in the form of inverse floating rate securities. The Dealer Trusts finance the purchases of the fixed rate bonds by issuing floating rate notes to third parties and allowing the Trust to retain residual interest in the bonds. The floating rate notes issued by the Dealer Trusts have interest rates that reset weekly and the floating rate note holders have the option to tender their notes to the Dealer Trusts for redemption at par at each reset date. The residual interests held by the Trust (inverse floating rate investments) include the right of the Trust (1) to cause the holders of the floating rate notes to tender their notes at par at the next interest rate reset date, and (2) to transfer the municipal bond from the Dealer Trusts to the Trust, thereby collapsing the Dealer Trusts. | |
TOBs are presently classified as private placement securities. Private placement securities are subject to restrictions on resale because they have not been registered under the Securities Act of 1933, as amended or are otherwise not readily marketable. As a result of the absence of a public trading market for these securities, they may be less liquid than publicly traded securities. Although these securities may be resold in privately negotiated transactions, the prices realized from these sales could be less than those originally paid by the Trust or less than what may be considered the fair value of such securities. | ||
The Trust accounts for the transfer of bonds to the Dealer Trusts as secured borrowings, with the securities transferred remaining in the Trusts investment assets, and the related floating rate notes reflected as Trust liabilities under the caption Floating rate note obligations on the Statement of Assets and Liabilities. The Trust records the interest income from the fixed rate bonds under the caption Interest and records the expenses related to floating rate obligations and any administrative expenses of the Dealer Trusts a component of Interest, facilities and maintenance fees on the Statement of Operations. | ||
The Trust generally invests in inverse floating rate securities that include embedded leverage, thus exposing the Trust to greater risks and increased costs. The primary risks associated with inverse floating rate securities are varying degrees of liquidity and the changes in the value of such securities in response to changes in market rates of interest to a greater extent than the value of an equal principal amount of a fixed rate security having similar credit quality, redemption provisions and maturity which may cause the Trusts net asset value to be more volatile than if it had not invested in inverse floating rate securities. In certain instances, the short-term floating rate interests created by the special purpose trust may not be able to be sold to third parties or, in the case of holders tendering (or putting) such interests for repayment of principal, may not be able to be remarketed to third parties. In such cases, the special purpose trust holding the long-term fixed rate bonds may be collapsed. In the case of RIBs or TOBs created by the contribution of long-term fixed income bonds by the Trust, the Trust will then be required to repay the principal amount of the tendered securities. During times of market volatility, illiquidity or uncertainty, the Trust could be required to sell other portfolio holdings at a disadvantageous time to raise cash to meet that obligation. | ||
E. | Other Risks The value of, payment of interest on, repayment of principal for and the ability to sell a municipal security may be affected by constitutional amendments, legislative enactments, executive orders, administrative regulations, voter initiatives and the economics of the regions in which the issuers are located. | |
Since many municipal securities are issued to finance similar projects, especially those relating to education, health care, transportation and utilities, conditions in those sectors can affect the overall municipal securities market and a Trusts investments in municipal securities. | ||
There is some risk that a portion or all of the interest received from certain tax-free municipal securities could become taxable as a result of determinations by the Internal Revenue Service. |
Level 1 | Prices are determined using quoted prices in an active market for identical assets. | ||
Level 2 | Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. | ||
Level 3 | Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Trusts own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Municipal Obligations
|
$ | | $ | 214,541,310 | $ | | $ | 214,541,310 | ||||||||
Unrealized Appreciation (Depreciation) of Investment Securities on a Tax Basis | ||||
Aggregate unrealized appreciation of investment securities
|
$ | 14,146,289 | ||
Aggregate unrealized (depreciation) of investment securities
|
(37,511 | ) | ||
Net unrealized appreciation of investment securities
|
$ | 14,108,778 | ||
Cost of investments for tax purposes is $200,432,532.
|
(a) | As of June 12, 2012, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the Principal Executive Officer (PEO) and Principal Financial Officer (PFO), to assess the effectiveness of the Registrants disclosure controls and procedures, as that term is defined in Rule 30a-3(c) under the Investment Company Act of 1940 (Act), as amended. Based on that evaluation, the Registrants officers, including the PEO and PFO, concluded that, as of June 12, 2012, the Registrants disclosure controls and procedures were reasonably designed so as to ensure: (1) that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure. | ||
(b) | There have been no changes in the Registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the Registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrants internal control over financial reporting. |
Certifications of PEO and PFO as required by Rule 30a-2(a) under the Investment Company Act of 1940. |
By:
|
/s/ Colin Meadows
|
|||
|
Principal Executive Officer |
By:
|
/s/ Colin Meadows
|
|||
|
Principal Executive Officer | |||
|
||||
Date:
|
July 30, 2012 | |||
|
||||
By:
|
/s/ Sheri Morris
|
|||
|
Principal Financial Officer | |||
|
||||
Date:
|
July 30, 2012 |
1 Year Invesco Van Kampen Trust For Value Municipals Chart |
1 Month Invesco Van Kampen Trust For Value Municipals Chart |
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions