MFS High Income Municipal (NYSE:CXM) focuses on investing primarily in municipal bonds to generate high income exempt from federal income taxes. The fund aims to provide shareholders with high levels of current income by managing a diversified portfolio that may include investments in various sectors of the municipal bond market, such as education, healthcare, and transportation. Its strategies may involve investing in high-yield municipal bonds that carry greater risk but potentially offer higher returns. MFS High Income Municipal's objective is to maximize income while maintaining a balance between risk and return, ensuring that investments comply with applicable tax laws to benefit its investors.