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Municipal bond mutual funds, with assets of $25 million or more, ranked
part 1 of 3
Rank Fund Name
Rank Fund
1 Excelsior TXE Long-Term
2 Dreyfus Basic Municipal Bond Fd
3 Dreyfus NY Tax Exempt Bond
4 Dreyfus Premier NC Muni A
5 Munder Tax Free Bond K
6 Dreyfus Premier TX Muni A
7 Dreyfus Premier VA Muni A
8 Dreyfus Premier PA Muni A
9 Landmark NY Tax Free Income A
10 Emerald FL Tax Exempt Ret
11 Emerald FL Tax Exempt Inst (1)
12 Norwest Advantage-T/F Income I
13 Dreyfus Premier NC Muni B
14 Dreyfus Premier VA Muni B
15 Dreyfus Premier NY Muni A
16 Dreyfus Premier PA Muni B
17 Norwest Advantage-T/F Income A
18 Dreyfus Premier NY Muni B
19 HSBC NY Tax Free Bond Fund
20 Dreyfus General NY Muni Bond
21 Nations Muni Income Fd Pr A
22 Compass Capital-Tax Free Inc Svc
23 Dreyfus Insured Muni Bond
24 Aquila Tax-Free Tr of Arizona Y
25 Norwest Advantage-CO Tax Free I
Average for top 25 funds with 25 million or more in assets
Average for all 185 funds with 25 million or more in assets
Average for all 479 bank proprietary municipal funds
Non-Bank Muni Fund Averages
Lehman Bros Muni
part 2 of 3
Rank Bank Investment Objecti 3/31/97
Rank Bank Investment Objecti 3/31/97
1 U.S. Trust Corp. Municipal Bond 110.43
2 Mellon Bank, N.A. Municipal Bond 82.87
3 Mellon Bank, N.A. Municipal Single S 1,631.89
4 Mellon Bank, N.A. Municipal Single S 42.04
5 Comerica Bank Municipal Bond 193.29
6 Mellon Bank, N.A. Municipal Single S 59.50
7 Mellon Bank, N.A. Municipal Single S 61.07
8 Mellon Bank, N.A. Municipal Single S 200.29
9 Citibank, N.A. Municipal Single S 78.30
10 Barnett Banks Municipal Single S 79.56
11 Barnett Banks Municipal Single S 33.89
12 Norwest Bank Minnesota N.A. Municipal Bond 265.23
13 Mellon Bank, N.A. Municipal Single S 43.26
14 Mellon Bank, N.A. Municipal Single S 35.09
15 Mellon Bank, N.A. Municipal Single S 128.09
16 Mellon Bank, N.A. Municipal Single S 71.12
17 Norwest Bank Minnesota N.A. Municipal Bond 27.64
18 Mellon Bank, N.A. Municipal Single S 70.60
19 Marine Midland Bank/HSBC Holdings Municipal Single S 39.60
20 Mellon Bank, N.A. Municipal Single S 294.23
21 NationsBank Corporation Municipal Bond 77.40
22 PNC Bank Corp Municipal Bond 41.62
23 Mellon Bank, N.A. Municipal Bond 191.49
24 Banc One Corporation Municipal Single S 388.20
25 Norwest Bank Minnesota N.A. Municipal Single S 26.34
170.92 3.76
166.64 2.96
68.46 2.94
152.75
part 3 of 3
TOTAL RETURNs THROUGH 6/30/97 (%)
Rank Bank Qtr. to Da1 Yea3 Yea5 Yea10 Years*
Rank Bank Qtr. to da1 Yea3 yea5 Yea10 Year
1 U.S. Trust Corp. 5.15 3.4510.7710.10 8.74 10.18
2 Mellon Bank, N.A. 4.22 4.1910.55 8.59
3 Mellon Bank, N.A. 3.88 3.09 7.92 6.40 6.03 7.17
4 Mellon Bank, N.A. 3.82 3.24 8.34 7.60 6.75
5 Comerica Bank 3.82 2.99 7.13
6 Mellon Bank, N.A. 3.81 3.73 9.50 8.53 7.76 9.19
7 Mellon Bank, N.A. 3.81 2.98 8.64 8.13 7.28
8 Mellon Bank, N.A. 3.77 3.46 8.53 7.79 7.18
9 Citibank, N.A. 3.76 3.59 8.34 7.45 6.29 7.42
10 Barnett Banks 3.74 2.67 7.94 6.56 6.42
11 Barnett Banks 3.73 2.84 8.26 6.89
12 Norwest Bank Minnesota N. 3.71 3.29 8.64 7.90
13 Mellon Bank, N.A. 3.69 2.98 7.80 7.05
14 Mellon Bank, N.A. 3.68 2.72 8.09 7.58
15 Mellon Bank, N.A. 3.67 2.93 8.32 7.24 7.00 8.75
16 Mellon Bank, N.A. 3.64 3.19 8.04 7.23
17 Norwest Bank Minnesota N. 3.61 3.19 8.64 7.87 6.29
18 Mellon Bank, N.A. 3.60 2.73 7.83 6.70
19 Marine Midland Bank/HSBC 3.58 3.05 8.30 6.39 6.35
20 Mellon Bank, N.A. 3.57 3.01 8.35 6.53 6.48 7.30
21 NationsBank Corporation 3.55 3.21 8.71 8.26 7.22
22 PNC Bank Corp 3.53 3.36 9.03 8.30 7.15
23 Mellon Bank, N.A. 3.53 2.40 7.27 5.84 5.35 6.85
24 Banc One Corporation 3.52 3.66 9.09
25 Norwest Bank Minnesota N. 3.52 3.40 8.75 7.89
3.17 8.51 7.51 6.82 8.12
2.67 7.16 6.62 6.29 7.56
2.57 6.96 6.61 6.17 7.61
3.11 2.76 7.36 6.82 6.25 7.47
3.45 3.21 8.26 7.91 7.10 8.17
