The Marshall Intermediate Tax-Free Class Y Fund (MUTF: MITFX) is an IRA fund for high income seeking investors who want to avoid paying federal taxes on their return. The fund seeks to do that, while preserving investors’ principal investment, by selecting investment grade state municipal bonds that include among other things, debt obligations and state territories. It may be a good option for investors who want to earn income while helping the nation’s states achieve their goals.
Here are the specifics for the Marshall Intermediate Tax-Free Class Y Fund for today’s mutual fund spotlight:
Investing Strategy: The fund typically invests in municipal securities with average maturity dates between three years to 10 years. 93.6% of the fund’s assets are in bonds, with the remainder held in cash.
Expense Ratio: With a .56% expense ratio and no transaction fee, the Marshall Intermediate Tax-Free Class Y Fund is cheap and one of the better rated funds in the class with its Morningstar rating of five stars.
Top 5 Holdings: The top five stocks in the Marshall Intermediate Tax-Free Class Y Fund include Marshall Tax-Free Money Market at 3.78%, California Statewide Communities De Variable Revenue Bond at 1.07%, Wisconsin St Health & Edl Facs Revenue Bonds at 1.07%, Gulf Breeze Florida Revenue Bonds at 3% 0.96%, and Wisconsin State Health & Edl Facs Variable Rate at 0.90%.
Returns: The fund’s 12-month return of .56% underperformed the Dow Jones Industrial Average’s 14.7% and S&P 500 Index’s 13.8% return during the period. Its 5-year return of 6.9% also underperformed the Dow Jones Industrial Average’s 9% return, but beat the S&P 500’s 1.6% return during the period.
Other Fund Statistics
- Total Assets: $469.3 million as of 6/16/11)
- Minimum Investment: $1,000
- Fund manager: John Boritzke and Duane A. McAllister
- Manager’s Tenure: Since February 1994 and June 2007
