WesMark West Virginia Municipal Bond Fund
WMKMX
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- WesMark West Virginia Municipal Bond Fund (WMKMX) is a municipal bond mutual fund that seeks current income exempt from federal income tax, federal alternative minimum tax, and West Virginia state income tax. The Fund invests primarily in investment-grade municipal securities issued by the State of West Virginia and its political subdivisions, agencies, and authorities; it may also purchase bonds subject to credit enhancement such as insurance; the portfolio emphasizes securities with an average maturity of approximately 9.2 years and modified duration of 7.2, with duration adjusted based on interest rate outlooks but without fixed parameters. Managed by Steve Kellas, CFA, Executive Vice President and Chief Fixed Income Specialist at WesBanco Trust and Investment Services, the Fund maintains a focus on high-quality, tax-exempt bonds amid West Virginia's economy reliant on coal mining, natural gas, manufacturing, and tourism. WesMark Funds, of which WMKMX forms a part, is advised by WesBanco Investment Department and headquartered in Wheeling, West Virginia, with the Fund tracing its origins to a common trust fund predecessor dating back to December 31, 1990, and formal inception on March 12, 1997. The Fund operates within the U.S. municipal bond sector, targeting West Virginia residents and tax-sensitive investors seeking stable income. In June 2025, parent adviser WesBanco completed its transformative merger with Premier Financial Corp., creating a regional financial services institution with approximately $27 billion in assets and expanding operational scale across multiple states, which supports the ongoing management and distribution of WesMark Funds including WMKMX. The Fund's most recent prospectus, effective March 4, 2025, reaffirmed its core strategy with updated expense ratios (net 1.16%, gross 1.16%) and performance disclosures incorporating semi-annual reports through June 30, 2025. No additional product launches, name changes, or reorganizations specific to WMKMX were reported in 2024-2025, maintaining continuity under WesBanco's century-old investment advisory platform.