The "open" sign is back again at the $4.5 billion Van Kampen High-Yield Municipal fund. Morgan Stanley's Van Kampen Investments reopened the fund, which had been closed since May 9, on August 18. Morningstar notes that this marks the third reopening of the fund in the past 12 months, which goes to show the degree of volatility in the municipal market.

"We believe recent market conditions have created a more favorable investment environment for the fund," according to an announcement posted on the Van Kampen Web site. "The portfolio management team believes the current supply of high-yield municipal bonds presents opportunities to capture value in the market." 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE