T. Rowe Price - Georgia Tax Free Bond Fund
GTFBX
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USD
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Capital Structure
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 100 East Pratt Street Baltimore MD United States of America 21202
- IPO Date
- Mar 31, 1993
- CIK
- 0000795384
- Website
- troweprice.com
- Similar Companies
- Business
- T. Rowe Price Georgia Tax-Free Bond Fund (GTFBX) is an open-end mutual fund that seeks to provide the highest level of income exempt from federal and Georgia state income taxes, consistent with prudent portfolio management, by investing primarily in investment-grade Georgia municipal bonds; it maintains at least 80% of its assets in such tax-exempt bonds, with the remainder potentially in other municipal securities or cash equivalents. The fund's portfolio emphasizes long-duration, mid-credit-quality municipal bonds issued by Georgia state authorities, counties, and local entities, including revenue bonds from the Georgia State Ports Authority (such as 5.25% and 5% series), Appling County Development Authority pollution control revenue bonds (4.5%), Georgia L. Smith II World Congress Center Authority convention center hotel revenue bonds (4%), and Atlanta water and wastewater revenue bonds (5%); top holdings represent approximately 10.08% of the portfolio, with over 200 positions focused on sectors like municipal tax-exempt (99.28%), infrastructure, ports, development, and essential services. Total net assets stand at approximately $496 million, with a net expense ratio of 0.56%; the fund offers monthly dividends, a minimum initial investment of $2,500 ($1,000 for IRAs), and is available primarily to U.S. investors, targeting Georgia residents seeking state tax efficiency in fixed income. Launched on March 31, 1993, and domiciled in the United States, the fund is managed by T. Rowe Price Associates, Inc., with lead portfolio manager Timothy Taylor since September 30, 2020, and co-manager Austin Applegate added as of May 1, 2025. In recent developments, Austin Applegate joined as co-portfolio manager effective May 1, 2025, complementing Timothy Taylor's oversight amid ongoing portfolio management enhancements; the fund maintained stable performance positioning within the Muni Single State Long category through 2025, with updated asset allocations showing 95.10% in U.S. bonds and 4.69% in non-U.S. bonds as of late 2025, reflecting prudent adjustments to interest rate sensitivity and credit exposures.