BlackRock High Yield Municipal Fund
MAYHX
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- BlackRock High Yield Municipal Fund (MAYHX) is a mutual fund managed by BlackRock Advisors, LLC, that seeks high current income exempt from federal income tax by investing primarily in high yield municipal securities. The fund offers exposure to a diversified portfolio of municipal bonds, including revenue bonds, general obligation bonds, and notes issued by state and local governments, as well as related entities; it emphasizes high-yield obligations rated below investment grade or unrated securities deemed comparable by the adviser, alongside a smaller allocation to investment-grade municipal securities for liquidity and diversification. Assets under management are distributed across sectors such as hospitals, transportation, housing, and utilities, targeting retail and institutional investors seeking tax-advantaged income. The fund, part of BlackRock's broader fixed income offerings, operates globally but focuses on U.S. municipal issuers, with headquarters at BlackRock's main office in New York, New York, where the firm was founded in 1988. Recent developments include portfolio adjustments amid rising interest rates in 2024-2025, enhanced yield strategies through selective credit exposure in response to market volatility, and integration of BlackRock's advanced risk analytics for municipal high yield investments following the firm's ongoing platform upgrades.