Tributary Nebraska Tax-Free Instl Plus

Tributary Nebraska Tax-Free Fund Institutional Plus (FONPX) is a non-diversified mutual fund managed by Tributary Capital Management, LLC, headquartered in Omaha, Nebraska, and part of the broader Tributary Funds family. Under normal market conditions, the fund invests at least 80% of its assets in municipal securities that generate income exempt from both Nebraska state and federal income tax, including the alternative minimum tax, with no more than 10% allocated to securities subject to the alternative minimum tax. With approximately $52 million in total net assets and a portfolio of around 175 holdings, the fund is categorized by Morningstar as a Muni Single State Intermediate fund and maintains a competitive net expense ratio of 0.45%. The fund is co-managed by Ronald Horner and Travis Nordstrom, CFA, both seasoned fixed-income professionals, and seeks to deliver a high level of current tax-exempt income while preserving capital over the long term.