T. Rowe Price Tax-Free Short Intermediate
PRFSX
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- T. Rowe Price Group, Inc. is a global investment management firm that provides a broad range of mutual funds, subadvisory services, separate account management, retirement plans, and related services to individual, institutional, and intermediary investors. Founded in 1937 and headquartered at 100 East Pratt Street in Baltimore, Maryland, the firm operates through 17 international offices serving clients in 55 countries, with assets under management exceeding $1.5 trillion. Among its extensive fixed income offerings, T. Rowe Price Tax-Free Short-Intermediate Fund (PRFSX) invests primarily in short- and intermediate-term investment-grade municipal securities to deliver high levels of federally tax-exempt income consistent with modest price fluctuation; the fund maintains a weighted average maturity of 2-5 years, modified duration to worst of approximately 2.65 years, and total assets of about $1.39 billion as of late 2024. The firm's fixed income capabilities encompass global, U.S., emerging markets, investment-grade, high-yield, multi-sector, and municipal bond strategies, including tax-free short-intermediate, intermediate, long-term, and high-income approaches. In recent developments, T. Rowe Price expanded its active ETF lineup to 28 funds with the November 2025 launch of four new fixed income ETFs, including three municipal bond products--Short Municipal Income ETF (TMNS), Long Municipal Income ETF (TMNL), and High Income Municipal ETF (THYM)--which complement the 2024-launched Intermediate Municipal Income ETF (TAXE) and broaden access to tax-free strategies. These initiatives reflect the firm's ongoing emphasis on active management, rigorous research, and fixed income innovation amid evolving client needs, while maintaining its focus on equity, multi-asset, and alternatives segments.