Colonial Mutual Funds is introducing a North Carolina tax-exempt fund.

The Boston-based company, which markets extensively through banks, said the new fund's goal is to help investors combat high tax rates and low interest rates.

The fund will invest primarily in investment-grade North Carolina municipal bonds.

Municipal bonds are one of the few tax-free investments left for individual investors," said Jeffrey Augustine, lead manager for the fund. "The new tax laws make these bonds even more attractive.

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