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Rating:M* Names Five Funds to Bet on for Muni Rebound Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, September 10, 2013

M* Names Five Funds to Bet on for Muni Rebound

News summary by MFWire's editors

Morningstar's Russel Kinnel writes that investors should stop listening to the noise on municipal bond funds post-Detroit, especially if that noise comes from Meredith Whitney, whose predictions have been significantly off.

Kinnel provided a list of five funds that investors can use to bet on a rebound.

He suggests T. Rowe Price [profile] Tax-Free High Yield, which has a Morningstar Gold rating. Kinnel said it's crucial for a high-yield muni fund to be managed by a firm with analyst breadth, as it's especially important to do deep analysis of each of the fund's holdings. The fund is down 7.5 percent year-to-date.

He also suggests Fidelity [profile] Municipal Income, which has less credit risk than the T. Rowe fund and skilled management, and Vanguard [profile] High-Yield Tax-Exempt, that is so cautious it doesn't qualify for the Morningstar muni high-yield category. It's been down only 5.9 percent this year.

Kinnel is a fan of Vanguard's muni funds. He lists two more: Vanguard Limited-Term Tax Exempt and Vanguard Short-Term Tax Exempt.

To read more, click here.  

Edited by: Casey Quinlan


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