Personal Finance and Investing

since there is no state income tax. Muni bonds from any state provide tax free income to Florida residents.

Here's the Morningstar page on the fund you mentioned;


http://quote.morningstar.com/fund/f.aspx?t=VFLTX&region=USA&culture=en-us
Four stars. Not bad.


Look for and click on "Portfolio".

The fund is almost completely made up of bonds rated "A" or better, with almost 50% holding "AA" ratings. The majority of the bonds held (85%) have a coupon between 4 & 6%

The turnover is 22% which means the manager is replacing 22 % of the portfolio each year - selling off old and buying into new
positions.

The performance for the last 3 years has been quite good - 10.37% per year. The figures for return on this type of report are always "total return" which means all interest, dividends and capital gains, if any, are re-invested.

If one was in need of a Florida specific fund, this one is worth considering, but as I said, if you are a FL resident, it isn't necessary to hold only Fla bonds.

Time for bed.