Commerce Funds The National Tax-Free Bond Fund
CFNLX
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USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 1000 Walnut St Kansas City MO United States of America 64121
- IPO Date
- Feb 21, 1995
- CIK
- 0000926243
- Website
- commercefunds.com
- Similar Companies
- Business
- Commerce Funds is a family of nine actively managed mutual funds that provides investors with a range of investment options focused on current income, capital preservation, and growth. The firm offers equity funds including Growth, MidCap Growth, MidCap Value, and Value, which target capital appreciation and, secondarily, current income; and fixed-income funds such as Bond, Short-Term Government, National Tax-Free Intermediate Bond (CFNLX), Missouri Tax-Free Intermediate Bond, and Kansas Tax-Free Intermediate Bond, which emphasize tax-exempt or taxable income consistent with capital preservation. The National Tax-Free Intermediate Bond Fund (CFNLX), with approximately $348 million in assets, invests at least 80% of its net assets in investment-grade municipal bonds issued by U.S. states, territories, the District of Columbia, and their political subdivisions, seeking current income exempt from federal income tax, including alternative minimum tax, while limiting up to 10% in unrated securities; the fund is managed by a fixed-income team averaging 27 years of experience. Commerce Funds, advised by Commerce Investment Advisors, Inc., a subsidiary of Commerce Bancshares, Inc., operates primarily in the United States, targeting individual and institutional investors seeking diversified mutual fund exposure across equity and fixed-income segments. Headquartered in Kansas City, Missouri, the funds became effective on December 12, 1994, following development initiated by Commerce Bank in 1993, with initial assets of approximately $251 million; total assets under management exceed $2.5 billion as of March 31, 2025. Recent developments include regular quarterly income distributions for equity funds in 2025, such as $0.1873 per share for Value (CFVLX) in March and $0.1828 in June, alongside year-end 2024 capital gains distributions averaging significant long-term gains across funds; the National Tax-Free Intermediate Bond Fund reported a +2.50% return for Q3 2025, underperforming its benchmark slightly due to sector allocations. Commerce Bancshares, the parent entity, completed the strategic acquisition of FineMark National Bank & Trust in 2025 for $585 million in stock, expanding into high-growth Florida and Arizona markets with $7.7 billion in added assets under administration and enhancing wealth management capabilities, which supports the broader ecosystem for Commerce Funds. No major fund-specific partnerships, new launches, or reorganizations for Commerce Funds were reported in the last 1-2 years.