Van Kampen High Yield Municipal and Strategic Municipal Income Funds
Time: 13 min 13 sec
*recorded 04/02/08
These comments were valid on the date the video was recorded. Markets move continuously. Ask your financial advisor for more up-to-date information.
2008 Lipper Award Winner
We are pleased to announce Van Kampen High
Yield Municipal Fund (Class A shares) has won a
2008 Lipper Fund Award for the 10-year period
ended December 31, 2007 in the Lipper High Yield
Municipal Debt Funds Category.*
Three reasons to consider:
Strong Manager Track Record
Since taking over Van Kampen High Yield Municipal Fund** on March 3, 1990 and Van
Kampen Strategic Municipal Income Fund on January 28, 2002, lead portfolio manager
Wayne Godlin has delivered compelling returns and earned the Fund of the
Decade award
by Morningstar in 2000 for the management of High Yield Municipal Fund.
Tax-Exempt Income
Competitive level of income that is tax-exempt and historically has demonstrated low
sensitivity to changes in interest rates.**
Tenured Management Team
The collaborative, team-based approach to managing these funds is what sets the Municipal Fixed-Income team apart. Portfolio managers Wayne Godlin, James D. Phillips, Mark Paris and Bill Black collectively have over 84 years of investment experience.
Past performance is no guarantee of future results.
*As of December 31, 2007, the fund’s total return (Class A shares at net asset value) ranked it in the 2nd quartile at 38 out of 96 funds for the 1-year period, the 1st quartile at 6 out of 81 funds for the 3-year period, the 1st quartile at 6 out of 75 funds for the 5-year period and the 1st quartile at 3 out of 43 funds for the 10-year period in the High Yield Municipal Debt category according to Lipper Analytical Services. Lipper counts each share class as a separate fund for purposes of its ranking calculations.
Performance for other share classes will vary. Lipper rankings are based upon changes in net asset value with all dividends reinvested and do not include the effect of sales charges. If they had, performance would be lower. Past performance is no guarantee of future results.
Methodology for awarding Lipper Fund Awards
Lipper Fund Awards are granted each year to the fund in each Lipper classification that consistently delivered the strongest risk-adjusted performance. A fund must meet the following criteria in order to achieve a Lipper Award: It must be registered for sale in the respective country as of the end of the evaluation year; it must have at least 36 months of performance history as of the end of the evaluation year; it must fall into one of the Lipper Global classifications with at least 10 distinct portfolios, excluding residual classifications and institutional funds; it must be one of the following asset classes: equity, bond or mixed-asset.
** Source: Lipper Inc.
Risk Considerations
There is no assurance that a mutual fund will
achieve its investment objective. Funds are subject to market risk,
which is the possibility that the market values of securities owned
by the fund will decline and that the value of fund shares may
therefore be less than what you paid for them. Accordingly, you can
lose money investing in these funds. Please be aware that these
funds may be subject to certain additional risks, including those
outlined below: Credit quality. Investments in securities
rated below investment grade (commonly known as "junk bonds")
present greater risk of loss to principal and interest than
investments in higher-quality securities. Fixed-income
securities. Subject to credit and interest-rate risk. Credit
risk refers to the ability of an issuer to make timely payments
of interest and principal. Interest-rate risk refers to
fluctuations in the value of a fixed-income security resulting from
changes in the general level of interest rates. In a declining
interest-rate environment, the portfolio may generate less income.
In a rising interest-rate environment, bond prices fall. Tax
treatment. The fund may invest a portion of its total assets in
bonds that may subject certain investors to the federal Alternative
Minimum Tax (AMT). Future laws could eliminate the tax exemption for
municipal income. You should consult your tax advisor for further
information on tax implications.
FUND
FACTS
Van Kampen High Yield Municipal Fund
Objective
Seeks high interest income exempt from federal income tax as is consistent with the investment policies of the fund.
Portfolio
Invests primarily in medium- and lower-grade municipal securities.
Van Kampen Strategic Municipal Income Fund
Objective
Seeks a high level of current income exempt from federal income tax primarily through investment in a diversified portfolio of medium- and lower-grade municipal securities.
Portfolio
Invests primarily in medium- and lower-grade municipal securities.
Symbols
Van Kampen High Yield Municipal Fund
Class A: ACTHX
Class B: ACTGX
Class C: ACTFX
Class I: ACTDX
Van Kampen Strategic Municipal Income Fund
Class A: VKMHX
Class B: VKTFX
Class C: VMHCX
Class I: VMHIX
Please consider the investment objectives, risks, charges and expenses of the
fund(s) carefully before investing. The prospectus contains this and other
information about the fund(s). To obtain a prospectus, contact your
financial advisor or download and/or
order. Please read the prospectus
carefully before investing.
Not FDIC Insured—Offer Not Bank
Guaranteed—May Lose Value
Not Insured By Any Federal Government Agency—Not A Deposit
Market Minute Talking Points
Van Kampen Strategic Municipal Income Fund
