About DMFZX
Destinations Municipal Fixed Income Fund Class Z is an open-end municipal bond fund designed to deliver current income that is exempt from federal income taxation. The fund primarily invests in investment-grade municipal securities and adheres to an 80% policy of allocating net assets to municipal fixed income under normal market conditions. It employs a multi-manager structure, allocating capital to specialized sub-advisers with distinct approaches across credit quality tiers, duration positioning, and sector selection to diversify sources of tax-exempt income. Notable underlying strategies include high yield municipals, intermediate-quality core municipals, and total return–oriented municipal mandates, reflecting a blend of relative value, credit research, and yield curve management. The portfolio typically spans revenue and general obligation bonds across sectors such as transportation, utilities, and essential services, supporting public infrastructure and local government financing. Within the municipal market, the fund’s structure aims to balance income generation with risk controls such as duration management and sector rotation, offering investors exposure to a broad, actively managed basket of tax-exempt bonds overseen by an integrated manager selection process.
Fund Family Destinations Funds
Category Intmdt Muni Debt
Performance Rating Average
Risk Rating Below Average
Stock Exchange Nasdaq
Ticker Symbol DMFZX
Share Class Class Z
Index Index is not available on Lipper Database
DMFZX had a total return of -1.49% in the past year, including dividends. Since the fund's
inception, the average annual return has been 0.81%.
