Van Kampen High Yield Municipal Fund to Close to
New Investors on May 9, 2008
At Van Kampen, we value the trust investors and their financial advisors
have placed in us. We are committed to upholding this trust across all
areas of our business. In order to best serve investors in our funds, we may
periodically limit asset inflows when we believe these inflows may outpace
attractive investment opportunities.
After careful consideration, we are closing Van Kampen High Yield Municipal Fund to new investors, effective
at the close of business on May 9, 2008. Existing shareholders may continue to invest in the fund.
(Investment requests must be postmarked May 9, 2008.) Existing
shareholders may continue to invest in the fund.
Although the portfolio-management team is not currently experiencing undue difficulties in
finding securities that meet their investment criteria, they believe it is in the best interest of existing
shareholders to close the fund to new investors at this time. If conditions warrant, the team may
choose to once again open the fund at a future date.
Share
Class
 |
Symbol |
Cusip |
| Class A |
ACTHX |
92113R101 |
| Class B |
ACTGX |
92113R200 |
| Class C |
ACTFX |
92113R309 |
|
Class I* |
ACTDX |
92113R705 |
|
*Class I share will remain open to
participating fee-based platforms and pre-approved asset allocation
platforms. |
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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.
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