Commerce Funds, Kansas Tax Free Intermediate Bond Fd Inst Shs
KTXIX
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Capital Structure
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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
- Dec 26, 2000
- CIK
- 0000926243
- Website
- commercefunds.com
- Similar Companies
- Business
- Commerce Funds Kansas Tax Free Intermediate Bond Fund (KTXIX) is a municipal bond mutual fund that seeks current income exempt from federal income tax and, to the extent possible, Kansas state income tax, consistent with the preservation of capital. The fund primarily invests in a diversified portfolio of municipal obligations issued by the State of Kansas and its political subdivisions, including general obligation bonds, revenue bonds, and pre-refunded securities across sectors such as higher education, limited tax, power, hospitals, water and sewer; it maintains an intermediate-term duration profile, with an effective duration of approximately 5.74 years as of March 31, 2025, and total assets under management of $109 million. Commerce Funds, the broader family encompassing KTXIX, offers a range of nine mutual funds spanning equity strategies focused on growth, value, and mid-cap opportunities, as well as fixed-income options including bond funds, short-term government funds, and national tax-free intermediate bond funds. The funds are managed by Commerce Investment Advisors, Inc., with the fixed-income team averaging 27 years of experience, and are distributed primarily to institutional and retail investors in the United States with a minimum initial investment of $1,000. Headquartered in Kansas City, Missouri, and affiliated with Commerce Bancshares, Inc., Commerce Funds has operated since the inception of KTXIX on December 26, 2000. The fund targets Kansas residents and tax-sensitive investors seeking tax-exempt income from high-quality, investment-grade municipal bonds, with approximately 99% allocated to U.S. municipal tax-exempt securities as of recent holdings data. In recent developments, Commerce Funds maintained steady dividend distributions throughout 2025, including quarterly income payments for equity funds such as Value (CFVLX) and MidCap Value (CFMVX), and year-end capital gains distributions paid in December 2024; the fixed-income group, including KTXIX, issued net investment income distributions in December 2024 with further quarterly payments scheduled through December 2025. Parent company Commerce Bancshares announced an all-stock acquisition of FineMark Holdings in August 2025 for $585 million, expected to close January 1, 2026, expanding wealth management capabilities with $7.7 billion in assets under administration and enhancing geographic reach into Florida and Arizona, though this primarily impacts banking and trust operations rather than the mutual fund lineup. No major product launches, reorganizations, or strategic shifts specific to KTXIX were reported in 2024-2025, with the fund focusing on portfolio positioning amid Fed policy stability, muni supply growth, and yield curve steepening in Q2 2025.