T. Rowe Price Group TROW announced on Nov. 19 that it plans to split its investment-research organization in two with the launch of T. Rowe Price Investment Management in 2022’s second quarter. Six existing strategies and supporting analytical resources will move to the new entity, and this cohort will remain entirely separate from the legacy T. Rowe Price Associates; the two teams will not share research or investment resources once divided.
T. Rowe Price Summit Municipal Intm Inv PRSMX
NAV / 1-Day Return
12.40
/
0.02
%
Total Assets
6.0 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
0.500%
Expense Ratio
0.500%
Fee Level
Below Average
Longest Manager Tenure
27.24
years
Category
Muni National Interm
Credit Quality / Interest Rate Sensitivity
Medium / LimitedMin. Initial Investment
25,000
Status
Open
TTM Yield
2.29%
Effective Duration
4.34
years
Premium
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will PRSMX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PRSMX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the PRSMX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of PRSMX’s parent organization’s priorities and whether they’re in line with investors’ interests.
T. Rowe Price’s New Entity Brings Opportunities and Trade-Offs
