The DTF Tax-Free Income 2028 Term Fund (NYSE: DTF) is a closed-end management investment company designed to provide federal tax-exempt income from a diversified portfolio of municipal securities. Organized as a term fund, DTF seeks to generate current income by investing primarily in investment-grade U.S. municipal bonds, with an expected termination date in 2028. Shares of the fund trade on the New York Stock Exchange, offering individual and institutional investors access to a professionally managed municipal bond portfolio within a fixed-maturity framework.
DTF’s investment strategy focuses on acquiring a broad range of general obligation and revenue bonds issued by state and local governments across the United States. The fund’s portfolio managers emphasize credit quality, sector diversification, and geographic balance, typically favoring issues rated investment grade by recognized rating agencies. To enhance yield potential, the fund may employ modest leverage, while closely monitoring interest rate exposure and liquidity considerations. The fund’s monthly distributions are derived principally from the tax-exempt interest income generated by its municipal holdings.
Since its initial public offering, the DTF Term Fund has been managed by a team of municipal bond specialists affiliated with Nuveen Asset Management, one of the nation’s largest municipal bond advisors. The fund’s board of trustees, comprising independent and affiliated members, oversees governance matters and appoints the adviser. As a term fund with a scheduled wind-up in 2028, DTF provides investors with a defined investment horizon, culminating in the return of remaining net assets upon termination, subject to market conditions.
DTF’s targeted investor base includes high-income individuals and tax-sensitive institutions seeking to complement their fixed-income allocations with municipal exposure. By combining professional portfolio management, a disciplined credit selection process, and the benefits of federal tax exemption, the DTF Tax-Free Income 2028 Term Fund aims to deliver a dependable source of after-tax income through its duration.
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