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T. Rowe Price Tax-free High Yield Fund (PRFHX)

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10.93 -0.01 -0.09%

24/05 - Closed. Currency in USD ( Disclaimer )

Type: Fund

Market: United States

Issuer: T. Rowe Price

Asset Class: Bond

Morningstar Rating:
Total Assets: 1.78B

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T. Rowe Price Tax-free High Yield Fund Overview

On this page you'll find an in-depth profile of T. Rowe Price Tax-free High Yield Fund. Learn about the key management, total assets, investment strategy and contact information of PRFHX among other information.

Investment Strategy

The investment seeks a high level of income exempt from federal income taxes by investing primarily in long-term low- to upper-medium-grade municipal securities. Normally, at least 80% of the fund's income will be exempt from federal income taxes. However, up to 20% of the fund's income could be derived from securities subject to the alternative minimum tax. It generally seeks higher yielding municipal bonds, including those that are rated below investment grade (BB and lower, or an equivalent rating) by a major credit rating agency or by T. Rowe Price, known as "junk" bonds.

Contact Information

Address The Gate, Level 15, Office 24
Dubai,Dubai XXXXXX
United Arab Emirates

Phone 97 14 401 9266

Web www.troweprice.com

Top Executives

Name	Title	Since	Until
James M. Murphy	Vice President	2001	Now
Biography	James M. Murphy, CFA—James Murphy is a vice president and portfolio manager for T. Rowe Price. He joined the firm in 2000 and his investment experience dates from 1993. During the past five years, Murphy has served as a portfolio manager. He received a BS in finance from the University of Delaware and an MBA in finance from Seton Hall University. He also is a trustee of the T. Rowe Price Foundation and a trustee of Severn School.
Patricia S. Deford	Director, Analyst	1999	2001
Biography	Deford joined T. Rowe Price Associates in 1990 and currently serves as a municipal research director and analyst. Prior to joining the firm, she served as an investment banker and municipal analyst with Alex. Brown & Sons from 1983 to 1990. From 1979 to 1983, she was an analyst with E. F. Hutton.
William F. Snider	Vice President	1999	2000
Biography	Snider is a vice president with T. Rowe Price Associates, his employer since 1991.
C. Stephen Wolfe	Vice President, Portfolio Manager	1993	1999
Biography	Wolfe is a vice president and portfolio manager with T. Rowe Price Associates. Prior to joining the company in 1985, he spent three years as an assistant treasurer with Morgan Guaranty Trust Company in New York. Wolfe says he takes a conservative, fundamental-value approach to high-yield municipal bonds. Wolfe is a member of the Municipal Bond Club of Baltimore and the Baltimore Economic Society.
A. Gene Caponi	Co-Lead Portfolio Manager	1994	1998
Biography	A. Gene Caponi, CFA, is Managing Director and Co-Lead Portfolio Manager. He is also Senior Municipal Bond Analyst specializing in the high-yield, health care and industrial sectors. Caponi joined Deutsche Asset Management in 1998 in 1998 after 14 years of experience as an investment analyst and banker at T. Rowe Price Associates, Lehman Brothers, The Sanwa Bank and Ayco/American Express. He earned his BS from the State University of New York, Oswego and his MBA from the State University of New York, Albany.
Charles O. Holland	-	1994	1998
Alan P. Richman	-	1994	1998
William T. Reynolds	Director	1985	1998
Biography	Reynolds joined T. Rowe Price Associates in 1981. He is currently director in charge of the firm's fixed-income division. Previously, he spent three years as assistant treasurer with the Federal Intermediate Credit Bank, two years as senior financial consultant with Control Data Corporation, and two years as an analyst with First National Bank of Washington. Reynolds is a Chartered Financial Analyst charterholder, a Chartered Investment Counselor
Peter J.D. Gordon	-	1985	1985

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