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By Miriam Sjoblom, CFA | 05-28-2009 10:05 AM

Still Value in Munis

Head of DWS muni portfolio management Phil Condon says munis still offer good return potential compared with the alternatives

Miriam Sjoblom: Hi, I'm Miriam Sjoblom at the Morningstar Investment Conference, and I'm here with Phil Condon, who is the head of Muni Portfolio Management at DWS Funds. Thanks for joining us, Phil.

Phil Condon: Nice to be here.

Sjoblom: Well, to start out, I think you definitely hear in the press a lot of talk about the state of municipal issuers and all the challenges they're facing on a fundamental level because of the economy. What are your thoughts on munis in general and their attractiveness right now, given the credit situation?

Condon: Well, here we are at the end of May, and the market has done very well. We've seen a lot of recovery. People have probably missed the biggest move in munis, but there's still, I think, a lot of good value in the marketplace. What I worry about is investors who are too concerned about the nitty-gritty, the fundamentals of individual budget problems that states and local governments are having, and avoiding the muni market as an asset class.Read Full Transcript

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