First National Bank of Omaha has added a no-load income fund and two no-load tax-exempt funds to its First Omaha Funds Inc. series.
The First Omaha Income Fund, the no-load income fund, will invest at least 65% of its assets in fixed-income securities. It will seek to maintain a dollar-weighted average portfolio maturity of three years or more and maintain a portfolio-duration average comparable to the Lehman Brothers Aggregate Bond Index.
The First Omaha Nebraska Tax-Exempt Fund and the First Omaha Colorado Tax-Exempt Fund will aim for high levels of current income exempt from federal income tax and the two states' income tax. At least 65% of both funds' assets will be invested in municipal securities generating tax-exempt income.
First National Bank of Omaha is a division of First National of Nebraska Inc.