T. Rowe Price NY Tax-Free BondPRNYX

Morningstar Rating

Fund Research and Analysis

by Lawrence Jones

T. Rowe Price New York Tax-Free Bond is a worthy option.

This fund's seasoned manager, Konstantine Mallas, plies a straightforward style here that has served investors well over time. As at other offerings in the T. Rowe tax-exempt lineup, this fund's Read more

Kudos

Solid long-term returns.

Consistent, straightforward strategy.

Reasonable expenses. Read more

Risks

Sensitive to changing interest rates.

Faces stiff competition from New York muni offerings from Vanguard and Fidelity. Read more

Strategy

Manager Konstantine (Dino) Mallas follows a cautious tack while seeking out pockets of opportunity. The fund's duration, a measure of interest-rate sensitivity, is generally in line with its peers', Read more

Management

T. Rowe Price veteran Konstantine (Dino) Mallas has done well here since taking over in April 2000. Mallas also manages T. Rowe Price California Tax-Free Bond PRXCX, which he took over in early 2003, and T. Rowe Price New Jersey Tax-Free Bond NJTFX, Read more

Inside Scoop

This fund scores points for sensible management and reasonable expenses. The fund makes few risky moves, but it has nonetheless offered investors a competitive yield and Read more

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