Fund Research for First Investors Tax Exempt NC B (FMTQX)

  • Fund Overview

    Fund Inception Date: Jan 12, 1995
    Category: Muni Single State Interm
    Overall Risk: Above Average
    Fund Family: First Investors
    Return Since Inception: 5.17%
    YTD Return: 10.38%
    Yield (TTM): 3.11%
    Net Assets: 2.28 M
    Morningstar Rating:
    3 of 5
    The investment seeks a high level of interest income that is exempt from both federal and state income tax. The fund normally invests 80% of assets in North Carolina, U.S. commonwealths, possessions or territories municipal securities that pay interest that is exempt from federal income tax. Those high quality municipal securities are rated as investment grade, at the time of purchase, by at least one “NRSRO”, or are determined by the adviser to be of investment grade quality. It generally invests in long-term bonds with maturities of fifteen years or more and may also invest in derivative securities.

    You need a current version of Adobe Flash Player plugin to view this chart.

    Get Adobe Flash player
    Details
    Average Eff Duration —
    Average Eff Maturity —
    Average Credit Quality —
    Morningstar Rating as of 10/31/2009
    YTD Returns as of 11/23/2009    		 Style Box Detail calculations do not include the fund's short positions (if any)

  • Fund Performance

    10 year Growth Chart
    Growth of $10,000 from 12/31/1998 to 10/31/2009
    Mouseover the chart to see values for each month.

    You need a current version of Adobe Flash Player plugin to view this chart.

    Get Adobe Flash player

    Total Annualized Returns

    YTD 1 year 3 year 5 year 10 year Since Inception
    Fund 10.38% 11.77% 3.62% 3.34% 4.75% 5.17%
    +/- Category -0.48% 1.43% 0.32% 0.09% 0.28% —
    +/- Barclays Municipal TR USD — — — — 5.66% —

    Standardized Annual Returns

    YTD 1 year 3 year 5 year 10 year Since Inception
    Month (as of 10/31/2009) 6.07% 8.98% 2.67% 2.81% 4.75% 5.17%
    Quarter (as of 09/30/2009) 9.30% 13.39% 3.89% 3.61% 4.92% 5.41%
    Fund and Category YTD, 1yr, 3yr and 5yr Returns as of 11/23/2009
    Index YTD,1yr, 3ys and 5yr Returns as of 11/23/2009 10 yr and Since Inception Returns as of 10/31/2009
    Inception Date: 01/12/1995
    Ratings are based on risk-adjusted performance.
    View Total Returns

  • Fund Portfolio Profile

    Sector Breakdown

    Stocks
    General Obligations 0.00%
    Advanced Refunded 0.00%
    State Appropriated Tobacco 0.00%
    Non-state Appropriated Tobacco 0.00%
    Education 3.55%
    Health 1.56%
    Housing 0.00%
    Industrial 0.00%
    Transportation 4.01%
    Utilities 0.00%
    Water/Sewer 0.00%
    Misc. Revenue 36.11%
    Bond Quality
    AAA —
    AA —
    A —
    BBB —
    BB —
    B —
    Below B —
    Not Rated —

    Asset Allocation

    Short Long Net Assets
    Cash — 1.19% 1.19%
    Stocks — 0.00% 0.00%
    Bonds — 98.81% 98.81%
    Other — 0.00% 0.00%
    Foreign Stocks
    (as a % of assets)    		 — 0.00% 0.00%
    Data as of 09/30/2009 Data as of 09/30/2009 View Fund Portfolio

    Top 10 Holdings

    Maturity Date Total Holdings Value of Holdings Net Assets
    = Brunswick Cnty N C Entpr Rev Bds 5.25% 04/01/2022 1.08 M 1.13 M 4.31%
    = Nash Cnty N C Ctfs Partn Cops 5.25% 06/01/2019 1.06 M 1.12 M 4.28%
    = Lincoln Cnty N C Go Sch Bd 5.5% 06/01/2027 1 M 1.09 M 4.18%
    = SALISBURY N C CTFS PARTN COPS 03/01/2026 1 M 1.07 M 4.09%
    = Charlotte N C Arpt Rev Rev Bds 5.25% 07/01/2023 1 M 1.06 M 4.04%
    * NORTH CAROLINA ST CAP IMPT LTD LTD GO BD 05/01/2028 1 M 1.05 M 4.03%
    = North Carolina Eastn Mun Pwr A Pwr Sy 6% 01/01/2019 1 M 1.05 M 4.00%
    = Cabarrus Cnty N C Ctfs Partn Insta 5.25% 06/01/2027 1 M 1.04 M 3.97%
    = Concord N C Utils Sys Rev Utilities 5% 12/01/2027 1 M 1.04 M 3.97%
    = Univ N C Sys Pool Rev Rev Bds 5% 10/01/2025 1 M 1.03 M 3.95%
    + Increase - Decrease = No change * New since last portfolio
    Data as of 06/30/2009
    Top 10 holdings account for the fund's short positions (if any). Net short positions appear shaded.
    View Fund Portfolio

  • Sales Information

    Sales Charge %

    Initial —
    Deferred 4.00%
    Taken from prospectus dated 05/26/2009
    Expense Ratio (based on net assets) 1.46%
    Taken from annual report dated 12/31/2008

  • Fund Management

    Clark D. Wagner
    Start Date: 07/01/1991
    Wagner is the director of Fixed Income and has served as the Portfolio Manager of the Government Fund since 1995. He also serves as Portfolio Manager and Co-Portfolio Manager for certain other First Investors Funds and has been a Portfolio Manager with FIMCO since 1991. Previously, Wagner spent three years as a vice president with General Electric Investment Corporation, and two years as a senior trader with American Express Company. He also worked at National Westminster Bank USA.