T. Rowe Price CA Tax-Free BondPRXCX

Morningstar Rating

Fund Research and Analysis

by Lawrence Jones

T. Rowe Price California 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

This fund boasts a good long-term record.

Expense ratio is lower than average. Read more

Risks

This fund faces stiff competition from no-load rivals at Vanguard and Fidelity. Read more

Strategy

No surprises here. Manager Konstantine (Dino) Mallas, who took over the fund in February 2003, doesn't make big interest-rate bets but instead focuses on identifying attractive sectors and individual Read more

Management

Konstantine (Dino) Mallas has been at the helm here since February 2003. He also manages T. Rowe Price New York Tax-Free Bond PRNYX and was named comanager of T. Rowe Price Tax-Free Income PRTAX in November 2007. He follows the same consistent approach Read more

Inside Scoop

This California muni-bond fund doesn't go out on a limb to maintain its solid performance. Its cautious strategy has helped moderate volatility. And thanks in part to below-average Read more

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