Printer Friendly

KEMPER FINANCIAL SERVICES ANNOUNCES THE INTRODUCTION OF KEMPER OHIO TAX-FREE INCOME FUND

 CHICAGO, April 5 /PRNewswire/ -- Kemper Financial Services, Inc. (KFS) today announced the introduction of the Kemper Ohio Tax-Free Income Fund, an open-end mutual fund designed to offer investors a high level of current income that is exempt from federal and state of Ohio income taxes(A).
 Kemper Ohio Tax-Free Income Fund will seek to achieve this objective through a professionally managed portfolio of primarily investment grade (rated BBB or higher, or equivalent) municipal securities from the state of Ohio.
 "The introduction of the Kemper Ohio Tax-Free Income Fund comes at an opportune time as state and federal taxes are on the rise, and as the number of available shelters for individual investors remain few," said Bill Chapman, KFS executive vice president and director of mutual fund marketing. "In fact, the top marginal tax rate for the state of Ohio recently increased from 6.9 percent to 7.5 percent, which is even more reason for investors to take advantage of the opportunity for an attractive level of double tax-free interest income," he said.
 Chapman believes the outlook for municipal bonds is especially attractive right now. "The bond market has responded well to President Clinton's proposal of a more specific fiscal program -- and this plan, which will likely slow the economic growth rate and keep inflation at its current rate, should be positive for municipal bonds," he said.
 Kemper Financial Services was the first mutual fund manager to introduce a fully managed tax-free bond fund -- Kemper Municipal Bond Fund -- in April 1976. Today, KFS manages over $6.7 billion in tax- exempt assets. The Kemper Ohio Tax-Free Income Fund is the fifth in the Kemper State Tax-Free Income Series, which also includes the Kemper California Tax-Free Income Fund (1983), Kemper New York Tax-Free Income Fund (1985), the Kemper Florida Tax-Free Income Fund (April 1991) and the Kemper Texas Tax-Free Income Fund (November 1991).
 The minimum investment for the Kemper Ohio Tax-Free Income Fund is $1,000 with subsequent investments of at least $100. The fund is available through registered broker/dealers and other financial intermediaries. The returns and net asset value of the fund will fluctuate.
 Kemper Financial Services is one of the nation's largest investment managers. Along with its affiliates, KFS currently manages over $70 billion in assets.
 (A) The exemption for federal and particular state or local tax purposes may not result in exemption under the tax laws of any other state or local taxing authority. (A portion of the income may be subject to the alternative minimum tax for certain investors).
 -0- 4/5/93
 /CONTACT: Marilyn Morrison, 312-499-8467, or Steve Radis, 312-499-8393, both of Kemper Financial Services/


CO: Kemper Financial Services, Inc. ST: Illinois IN: FIN SU: PDT

PS -- NY030 -- 2983 04/05/93 11:15 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 5, 1993
Words:460
Previous Article:ABRAXAS ACQUIRES SOUTH TEXAS OIL & GAS PROPERTIES FROM MOBIL
Next Article:PARAMOUNT COMMUNICATIONS NAMES ROBERT GREENBERG SENIOR VICE PRESIDENT OF HUMAN RESOURCES
Topics:


Related Articles
KEMPER GROWTH FUND SURPASSES BILLION-DOLLAR MARK
KEMPER FINANCIAL SERVICES, INC. INTRODUCES KEMPER INVESTMENT PORTFOLIOS -- SMALL CAPITALIZATION EQUITY PORTFOLIO
KEMPER FINANCIAL SERVICES INTRODUCES KEMPER RETIREMENT FUND, SERIES IV
KEMPER HIGH YIELD MUTUAL FUNDS REACH MILESTONES
KEMPER FINANCIAL SERVICES INTRODUCES KEMPER WORLDWIDE 2004 FUND
KEMPER FINANCIAL SERVICES OFFERS KEMPER RETIREMENT FUND, SERIES VI
KEMPER FUNDS GROUP INTRODUCES KEMPER HORIZON FUND
KEMPER FUNDS ANNOUNCES THE INTRODUCTION OF KEMPER QUANTITATIVE EQUITY FUND
KEMPER FUNDS GO ONLINE
KEMPER RETIREMENT PLANS GROUP TO SUPPORT OUTSIDE FUNDS FOR SMALL PLAN MARKETPLACE

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters