Unequivocally, the best place to invest in the tax-exempt market this year has been New York single-state funds.

Seven out of the 10 best performing municipal bond funds for the first nine months of the year were New York funds, which give instate investors returns free of state and local income taxes. The top 10 New York funds conferred total returns averaging 10.82% during the period, according to Lipper Analytical Services Inc.

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