This is only a summary of information contained elsewhere in this prospectus. This summary does not contain all of the information that you should consider before investing in the shares. You should carefully read the more detailed information contained or incorporated by reference in this prospectus and in the SAI, particularly the information set forth under the heading "Risk Factors."
| The Fund | XFT Municipal Income Fund (the "Fund") is a continuously offered, diversified, closed-end management investment company that intends to operate as an interval fund. As an interval fund, the Fund will offer to make repurchases of between 5% and 25% of its outstanding shares at net asset value ("NAV"), on a quarterly basis, unless such offer is suspended or postponed in accordance with regulatory requirements. |
| Common Shares | The Fund's common shares of beneficial interest are referred to as "Common Shares," and holders of these shares are called "Common Shareholders" throughout this prospectus. |
| The Offering |
Title of Securities Being Registered: Common Shares Amount Being Registered: 500,000 Proposed Maximum Offering Price per Unit: $10.00 Proposed Maximum Aggregate Offering Price: $5,000,000 You must purchase at least $3,000 (Dollar Shares) or $50,000 (DeFi Shares) to participate in this offering. |
| Investment Objective | The Fund seeks to provide current income exempt from federal personal income taxes while maintaining liquidity and a stable share price of $1. |
| Principal Investment Strategies | The Fund invests in a variety of high-quality, short-term municipal securities. To be considered high quality, a security must present minimal credit risk based on factors such as maturity, diversification, liquidity, and credit quality. The Fund invests in securities with effective maturities of 397 days or less, maintains a dollar-weighted average maturity of 60 days or less, and maintains a dollar-weighted average life of 120 days or less. |