Tax Managed Balanced Fund: Where are the dividends?
LAst year in April, I purchased a Tax Managed Balanced Fund from one of the big brokerage houses , in my taxable account. This fund invest about 52% in munis and 48% in large and mid cap stocks.
I noticed that the 3 quarterly dividend payouts in 2017 were all listed as "non taxable." So I assume these distributions all came from the muni bonds. Ok.
But what about the distributions from the stocks? Granted some companies may not have issued a dividend, but the fund holds close to 900 stocks which some , perhaps most paid out a dividend.
So my questions is shouldn't there be some taxable dividend income for the year?? I am sure there is a simple explanation that I am missing and I did read through the prospectus, but nothing stood out to me. Thanks if anyone can help.