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Straightforward Approach Pays Off for This Muni Fund

Gold-rated T. Rowe Summit Muni Intermediate focuses on in-depth, bottom-up research.


Elizabeth Foos: The experienced team running T. Rowe's Summit Muni Intermediate Fund is focused on in-depth, bottom-up research. The effort has resulted in impressive risk-adjusted returns over the long term and supports the fund's Morningstar Analyst Rating of Gold. 

Manager Charlie Hill has been running this fund since its inception in 1993. He's supported by large staff of dedicated muni analysts and traders, most of whom have at least a decade of industry experience themselves. They scour the muni market for an ideal mix of value and quality to add to this portfolio, and that straightforward approach has paid off over time.

Elizabeth Foos does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.