In Friday's Wall Street Journal Fund Track column
, Katy Burne features a newly launched J.P. Morgan
] mutual fund, Tax-Aware Income Opportunities Fund
. Launched last month, the fund "promises a spicy cocktail for muni-bond investors," Burne writes, noting that the fund invests 80 percent of its assets in tax-exempt muni bonds and the remaining 20 percent in taxable bonds, credit derivatives and other hedges.
, co-PM of the fund, tells Burne that the portfolio mix had not been tried
earlier because muni bond yields had been steadily moving south for several years.
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