At the New York Stock Exchange's opening bell today, Van Kampen Merritt Investment Advisory Corp. will launch two new closed-end municipal funds that have ruffled feathers throughout the dealer and brokerage communities.

The Chicago-based investment firm will raise $550 million for its Quality Municipal Trust and about $100 million for the Pennsylvania Quality Municipal Trust. Projected tax-exempt returns to investors are 7.25% and 6.75%, respectively.

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