Investment Objective
The Fund seeks to provide current income exempt from federal income taxes and from the personal income taxes of Virginia, to preserve capital, to limit credit risk and to take advantage of opportunities to increase income and enhance the value of your investment…

Investment Strategy
Lowe, Brockenbrough's philosophy in managing fixed income securities utilizes a disciplined balance between sector selection and moderate portfolio duration shifts. The fund maintains a policy of generating annual income exempt from income tax through investment in Virginia tax exempt securities. The fund limits its investment purchases to investment grade securities.