Segall Bryant & Hamill Municipal Opportunities Fund Retail is an open‑end municipal bond mutual fund designed to provide income that is exempt from federal income taxes. The fund primarily invests at least 80% of its net assets in **municipal bonds**, with an emphasis on **investment‑grade** securities rated within the four highest categories at purchase, aiming to balance tax‑advantaged income with credit quality oversight. Positioned in the **intermediate municipal debt** segment, it targets overlooked issues that offer measurable return advantages while meeting defined quality standards, reflecting an active, research‑driven approach to the muni market. The fund distributes income **monthly**, aligning with investor needs for regular tax‑exempt cash flows, and maintains an expense ratio near the mid‑range for actively managed municipal strategies. Launched in 2016, the strategy plays a role in portfolios seeking tax‑efficient core fixed income exposure, diversifying across state and sector issuers tied to public infrastructure, essential services, and revenue‑backed projects. This retail share class typically features a moderate minimum investment, facilitating access for a broad base of individual investors.