Muni national long portfolios invest in bonds issued by various state and local governments to fund public projects. The income from these bonds is generally free from federal taxes. To lower risk, these portfolios spread their assets across many states and sectors. These portfolios have durations of more than seven years (or, if duration is unavailable, average maturities of more than 12 years).
Abbreviation: ML
Broad Asset Class: Municipal Bond
Primary Index: Barclays Municipal Bond
Secondary Index: Barclays Municipal 20 Year (17-22) Bond