First Trust Managed Municipal Fund Class I (CWAIX)

The First Trust Managed Municipal Fund Class I (CWAIX) is a mutual fund that primarily invests in a diversified portfolio of municipal bonds. These bonds are issued by state and local governments to fund public projects such as schools, roads, and utilities. This fund is managed by First Trust Advisors, a leading investment management firm, and aims to provide investors with tax-free income and potential capital appreciation. As a Class I fund, it is typically only available to institutional investors and has a lower expense ratio compared to other share classes. CWAIX may be a suitable option for investors seeking a tax-efficient way to generate income while also diversifying their portfolio.