PRTAX

About PRTAX

T. Rowe Price Tax-Free Income Fund is a mutual fund that primarily targets high levels of income exempt from U.S. federal income taxes by investing in long-term, investment-grade municipal securities. The fund’s strategy focuses on holding a broadly diversified portfolio, both geographically and across sectors, with a notable emphasis on high-quality municipal bonds and a weighted average maturity exceeding 15 years. While it may allocate up to 10% of assets to below investment-grade bonds, the fund’s core holdings are investment-grade, aiming to mitigate credit risk. Notably, the fund generally avoids bonds subject to the federal alternative minimum tax. Income from the fund is distributed monthly, with at least 80% typically exempt from federal taxes, and capital gains, if any, may be taxable. The fund’s holdings often span sectors such as healthcare, transportation, utilities, and infrastructure. Managed by a seasoned team, the T. Rowe Price Tax-Free Income Fund serves as a tool for investors seeking federally tax-free income through exposure to the municipal bond market, contributing liquidity and stability to the broader tax-exempt investment landscape.