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Set 1 of 4
Rank Fund Name Bank
1 Stepstone CA T/F Income Inv Union Bank
2 Stepstone CA T/F Income Inst Union Bank
3 Galaxy CT Municipal Bond Ret Fleet Financial Group
4 Sierra Tr CA Ins Interm Muni A Great Western Financial
5 Griffin CA Tax-Free A Home Savings of America
6 Narragansett Insd Tax-Free Inc Citizens Trust Company
7 Griffin CA Tax-Free B Home Savings of America
8 Sierra Tr CA Ins Interm Muni B Great Western Financial
9 Victory Fds-National Municipal A KeyCorp
10 PNC Fund-PA Tax Free Inc Inst PNC Bank Corp
11 Norwest CO Tax Free Tr Norwest Bank Minnesota N.A.
12 Norwest CO Tax Free A Norwest Bank Minnesota N.A.
13 One Group-KY Municipal Fid Banc One Corporation
14 Griffin Municipal Bond Fund A Home Savings of America
15 PNC Fund-PA Tax Free Inc Svc PNC Bank Corp
16 CoreFund NJ Municipal A CoreStates Bank
17 Sierra Tr FL Ins Municipal A Great Western Financial
18 PNC Fund-PA Tax Free Inc A PNC Bank Corp
19 STI Classic FL Tax Exempt Tr SunTrust Banks, Inc.
20 Nations Muni Income Fd Tr A NationsBank Corporation
21 STI Classic FL Tax Exempt Inv SunTrust Banks, Inc.
22 Munder MI Triple Tax-Free Bond Y Comerica Bank
23 Victory Fds-National Municipal B KeyCorp
24 Evergreen SC Muni Bond Y First Union National Bank of
25 Norwest CO Tax Free B Norwest Bank Minnesota N.A.
26 Nations Muni Income Fd Inv A NationsBank Corporation
27 Nations VA Muni Bond Tr A NationsBank Corporation
28 Griffin Municipal Bond Fund B Home Savings of America
29 Dreyfus Premier NY Muni A Mellon Bank, N.A.
30 CoreFund PA Municipal A CoreStates Bank
31 Nations GA Muni Bond Tr A NationsBank Corporation
32 PNC Fund-Tax Free Income Inst PNC Bank Corp
33 Evergreen SC Muni Bond A First Union National Bank of
34 CoreFund NJ Municipal B CoreStates Bank
35 Armada OH Tax Exempt Ret National City Bank
36 Nations VA Muni Bond Inv A NationsBank Corporation
37 PNC Fund-OH Tax Free Inc Inst PNC Bank Corp
38 Armada OH Tax Exempt Inst National City Bank
39 CoreFund PA Municipal B CoreStates Bank
40 Dreyfus Premier NY Muni B Mellon Bank, N.A.
41 Nations GA Muni Bond Inv A NationsBank Corporation
42 Sierra Tr FL Ins Municipal B Great Western Financial
43 Dreyfus Basic Interm Municipal Bd Mellon Bank, N.A.
44 Dreyfus Premier NY Ins Muni A Mellon Bank, N.A.
45 PNC Fund-Tax Free Income Svc PNC Bank Corp
46 Nations SC Muni Bond Tr A NationsBank Corporation
47 1784 Funds-MA Tax Ex Income A First National Bank of Boston
48 Dreyfus Premier OH Muni A Mellon Bank, N.A.
49 Nations Muni Income Fd Inv N NationsBank Corporation
50 Nations Muni Income Fd Inv C NationsBank Corporation
Bank Proprietary Muni Avg (a)
Non-Bank Muni Fund Averages
Lehman Bros Muni
Set 2 of 4
Rank Fund Name Investment Objective
1 Stepstone CA T/F Income Inv Municipal Single State
2 Stepstone CA T/F Income Inst Municipal Single State
3 Galaxy CT Municipal Bond Ret Municipal Single State
4 Sierra Tr CA Ins Interm Muni A Municipal Single State
5 Griffin CA Tax-Free A Municipal Single State
6 Narragansett Insd Tax-Free Inc Municipal Single State
7 Griffin CA Tax-Free B Municipal Single State
8 Sierra Tr CA Ins Interm Muni B Municipal Single State
9 Victory Fds-National Municipal A Municipal Bond
10 PNC Fund-PA Tax Free Inc Inst Municipal Single State
11 Norwest CO Tax Free Tr Municipal Single State
12 Norwest CO Tax Free A Municipal Single State
13 One Group-KY Municipal Fid Municipal Single State
14 Griffin Municipal Bond Fund A Municipal Bond
15 PNC Fund-PA Tax Free Inc Svc Municipal Single State
16 CoreFund NJ Municipal A Municipal Single State
17 Sierra Tr FL Ins Municipal A Municipal Single State
18 PNC Fund-PA Tax Free Inc A Municipal Single State
19 STI Classic FL Tax Exempt Tr Municipal Single State
20 Nations Muni Income Fd Tr A Municipal Bond
21 STI Classic FL Tax Exempt Inv Municipal Single State
22 Munder MI Triple Tax-Free Bond Y Municipal Single State
23 Victory Fds-National Municipal B Municipal Bond
24 Evergreen SC Muni Bond Y Municipal Single State
25 Norwest CO Tax Free B Municipal Single State
26 Nations Muni Income Fd Inv A Municipal Bond
27 Nations VA Muni Bond Tr A Municipal Single State
28 Griffin Municipal Bond Fund B Municipal Bond
29 Dreyfus Premier NY Muni A Municipal Single State
30 CoreFund PA Municipal A Municipal Single State
31 Nations GA Muni Bond Tr A Municipal Single State
32 PNC Fund-Tax Free Income Inst Municipal Bond
33 Evergreen SC Muni Bond A Municipal Single State
34 CoreFund NJ Municipal B Municipal Single State
35 Armada OH Tax Exempt Ret Municipal Single State
36 Nations VA Muni Bond Inv A Municipal Single State
37 PNC Fund-OH Tax Free Inc Inst Municipal Single State
38 Armada OH Tax Exempt Inst Municipal Single State
39 CoreFund PA Municipal B Municipal Single State
40 Dreyfus Premier NY Muni B Municipal Single State
41 Nations GA Muni Bond Inv A Municipal Single State
42 Sierra Tr FL Ins Municipal B Municipal Single State
43 Dreyfus Basic Interm Municipal Bd Municipal Bond
44 Dreyfus Premier NY Ins Muni A Municipal Single State
45 PNC Fund-Tax Free Income Svc Municipal Bond
46 Nations SC Muni Bond Tr A Municipal Single State
47 1784 Funds-MA Tax Ex Income A Municipal Single State
48 Dreyfus Premier OH Muni A Municipal Single State
49 Nations Muni Income Fd Inv N Municipal Bond
50 Nations Muni Income Fd Inv C Municipal Bond
Bank Proprietary Muni Avg (a)
Non-Bank Muni Fund Averages
Lehman Bros Muni
Set 3 of 4
TOTAL RETURN THROUGH September 30, 1995 (%)
Fund Assets Third Latest
Rank Fund Name 6/30/95 Quarter 9 months
1 Stepstone CA T/ 4.2 3.65 14.82
2 Stepstone CA T/ 9.1 3.64 14.93
3 Galaxy CT Munic 16.8 3.55 14.29
4 Sierra Tr CA In 54.4 3.5 13.08
5 Griffin CA Tax- 18.4 3.5 12.48
6 Narragansett In 34.4 3.42 14.33
7 Griffin CA Tax- 0.4 3.36 12.04
8 Sierra Tr CA In 12.4 3.33 12.47
9 Victory Fds-Nat 8.4 3.2 12.88
10 PNC Fund-PA Tax 2.4 3.18 13.65
11 Norwest CO Tax 24.3 3.17 11.98
12 Norwest CO Tax 25.6 3.17 11.99
13 One Group-KY Mu 32.5 3.15 12.03
14 Griffin Municip 5 3.1 12.29
15 PNC Fund-PA Tax 12.9 3.1 13.41
16 CoreFund NJ Mun 1.6 3.06 12.44
17 Sierra Tr FL In 33.7 3.06 10.59
18 PNC Fund-PA Tax 44.2 3.06 13.25
19 STI Classic FL 14.5 3.04 11.7
20 Nations Muni In 62.7 3.02 14.11
21 STI Classic FL 3.4 2.99 11.5
22 Munder MI Tripl 0.8 2.99 12.11
23 Victory Fds-Nat 0.3 2.98 12.46
24 Evergreen SC Mu 0.3 2.97 16.32
25 Norwest CO Tax 5.2 2.97 11.36
26 Nations Muni In 24.3 2.97 13.94
27 Nations VA Muni 2.3 2.94 14
28 Griffin Municip 0 2.94 11.93
29 Dreyfus Premier 143.9 2.93 13.43
30 CoreFund PA Mun 2.3 2.93 12.87
31 Nations GA Muni 0.6 2.92 13.96
32 PNC Fund-Tax Fr 0.3 2.91 13.27
33 Evergreen SC Mu 0.6 2.91 16.1
34 CoreFund NJ Mun 0 2.9 12.11
35 Armada OH Tax E 3.1 2.89 10.74
36 Nations VA Muni 0.4 2.89 13.83
37 PNC Fund-OH Tax 0.2 2.89 12.78
38 Armada OH Tax E 72.7 2.89 10.81
39 CoreFund PA Mun 0.3 2.87 12.54
40 Dreyfus Premier 61.3 2.87 13.06
41 Nations GA Muni 0 2.86 13.79
42 Sierra Tr FL In 3.3 2.86 9.97
43 Dreyfus Basic I 42.5 2.85 11.03
44 Dreyfus Premier 4.4 2.85 12.42
45 PNC Fund-Tax Fr 3.4 2.84 13.16
46 Nations SC Muni 1.6 2.84 13.79
47 1784 Funds-MA T 81.1 2.84 10.32
48 Dreyfus Premier 270.8 2.84 10.96
49 Nations Muni In 18.6 2.82 13.48
50 Nations Muni In 2.6 2.82 13.48
Bank Proprietar 69.6 2.37 11.01
Non-Bank Muni F 172.4 2.31 11.11
Lehman Bros Muni 2.87 12.75
Set 4 of 4
TOTAL RETURN THROUGH September 30, 1995 (%)
Latest Latest Latest
Rank Fund Name 1 year 3 years* 5 years*
1 Stepstone CA T/ 11.64
2 Stepstone CA T/ 11.63
3 Galaxy CT Munic 11.27
4 Sierra Tr CA In 11.36
5 Griffin CA Tax- 10.13
6 Narragansett In 12.96 7.31
7 Griffin CA Tax-
8 Sierra Tr CA In 10.66
9 Victory Fds-Nat 10.31
10 PNC Fund-PA Tax 10.82
11 Norwest CO Tax 10.36
12 Norwest CO Tax 10.36
13 One Group-KY Mu 9.83
14 Griffin Municip 10.18
15 PNC Fund-PA Tax 10.52
16 CoreFund NJ Mun 9.9
17 Sierra Tr FL In 8.59
18 PNC Fund-PA Tax 10.32
19 STI Classic FL 10.99
20 Nations Muni In 11.98 6.95
21 STI Classic FL 10.75
22 Munder MI Tripl 10.14
23 Victory Fds-Nat 9.9
24 Evergreen SC Mu 13.85
25 Norwest CO Tax 9.53
26 Nations Muni In 11.76 6.77
27 Nations VA Muni 12.34
28 Griffin Municip
29 Dreyfus Premier 11.05 7.06 9.45
30 CoreFund PA Mun 10.73
31 Nations GA Muni 12.2
32 PNC Fund-Tax Fr 11.54 6.81 8.48
33 Evergreen SC Mu 13.57
34 CoreFund NJ Mun 9.4
35 Armada OH Tax E 9.3 6.05 6.85
36 Nations VA Muni 12.11
37 PNC Fund-OH Tax 10.76
38 Armada OH Tax E 9.27 6.02 6.85
39 CoreFund PA Mun 10.46
40 Dreyfus Premier 10.48
41 Nations GA Muni 11.99
42 Sierra Tr FL In 7.78
43 Dreyfus Basic I 9.69
44 Dreyfus Premier 10.8
45 PNC Fund-Tax Fr 11.24 6.62 8.37
46 Nations SC Muni 12.61
47 1784 Funds-MA T 8.73
48 Dreyfus Premier 9.72 6.69 8.73
49 Nations Muni In 11.15
50 Nations Muni In 11.15 6.15
Bank Proprietar 9.55 6.2 8.06
Non-Bank Muni F 9.31 6.11 8.1
Lehman Bros Mun 11.18 6.94 8.86
Data Source: The data were provided by CDA/Wiesenberger, Rockville, Md.,
American Banker, 1995