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part 1 of 3
Rank Fund Name Bank
1 Evergreen FL High Income Muni A First Union National Bank of N.C.
2 One Group-Muni Income Fid Banc One Corporation
3 Overland Express Short-Term Muni Wells Fargo Bank, N.A.
4 One Group-Muni Income Inv Banc One Corporation
5 Evergreen FL High Income Muni B First Union National Bank of N.C.
6 One Group-Muni Income B Banc One Corporation
7 Dreyfus Sh-Interm Tax Exempt Mellon Bank, N.A.
8 Excelsior Sh Term Tax Ex Secs U.S. Trust Corp.
9 Kent Fds-Ltd Term Tax Free Inst (1)Old Kent Bank & Trust
10 Nations Sh-Term Muni Inc Pr A NationsBank Corporation
11 59 Wall Street T/F Sh-Int Fix/Inc Brown Brothers Harriman & Co.
12 Sierra Tr National Municipal A Great Western Financial
13 Aquila Tax-Free Tr of Oregon A U.S. Bancorp
14 Evergreen Sh-Intermed Muni Y First Union National Bank of N.C.
15 Dreyfus Basic Interm Muni Bd Mellon Bank, N.A.
16 Evergreen Sh-Intermed Muni A First Union National Bank of N.C.
17 Arch Fd-Short Interm Municipal Tr Mercantile Bank St. Louis
18 Stagecoach CA Tax-Free Income A Wells Fargo Bank, N.A.
19 One Group-Interm Tax Free Fid Banc One Corporation
20 Overland Express Muni Income A Wells Fargo Bank, N.A.
21 1784 Funds-RI Tax Ex Income A First National Bank of Boston
22 First American-Interm Tax Free C First Bank, N.A.
23 Dreyfus Premier MD Muni A Mellon Bank, N.A.
24 Dreyfus PA Intermediate Muni Mellon Bank, N.A.
25 1784 Funds-CT Tax-Exempt Income A First National Bank of Boston
Average for top 25 funds with 25 million or more in assets
Average for all 187 funds with 25 million or more in assets
Average for all 490 bank proprietary municipal funds
Lehman Bros Muni
Non-Bank Muni Fund Averages
part 2 of 3
TOTAL RETURN THROUGH YEAREND 1996 (%)
Rank Invest Fund Asset First Latest Latest
12/31/96 Qtr. 1 Year* 3 Years*
1Municipal Single Sta $85.20 0.81 6.64 8.08
2Municipal Bond 286.9 0.8 6 5.8
3Municipal Bond 28.7 0.76 3.79
4Municipal Bond 29.3 0.75 5.76 5.58
5Municipal Single Sta 30.4 0.63 5.85 7.55
6Municipal Bond 29 0.58 4.97 4.9
7Municipal Bond 314.4 0.57 3.96 4.21
8Municipal Bond 38.9 0.51 3.55 4.13
9Municipal Bond 41.4 0.46 3.76
10Municipal Bond 56.3 0.46 4.15 4.73
11Municipal Bond 55.6 0.43 3.93 4.18
12Municipal Bond 210.6 0.38 6.21 6.21
13Municipal Single Sta 548 0.22 4.75 5.89
14Municipal Bond 34.5 0.21 3.71 3.86
15Municipal Bond 54.1 0.21 5.57
16Municipal Bond 26.8 0.19 3.61 3.84
17Municipal Bond 28.8 0.17 3.79
18Municipal Single Sta 75 0.17 3.96 4.58
19Municipal Bond 244.9 0.13 5.48 6.02
20Municipal Bond 44.3 0.11 5.33 6.28
21Municipal Single Sta 47.4 0.11 5.89
22Municipal Bond 173.7 0.07 4.22 5.82
23Municipal Single Sta 273.8 0.06 5.81 6.58
24Municipal Single Sta 50.1 0.05 5.01 6.43
25Municipal Single Sta 93.7 0.05 5.09
116.1 0.36 4.83 5.51
98.4 -0.4 5.95 8.29
66.7 -0.37 4.4 5.85
-0.23 5.46 7.08
161.5 -0.36 4.71 5.86
part 3 of 3
Rank Investmen Latest Latest
5 Years* 10 Years*
1Municipal Single State
2Municipal Bond
3Municipal Bond
4Municipal Bond
5Municipal Single State
6Municipal Bond
7Municipal Bond 4.73
8Municipal Bond
9Municipal Bond
10Municipal Bond
11Municipal Bond
12Municipal Bond 7.15
13Municipal Single Sta 6.17 6.54
14Municipal Bond 4.6
15Municipal Bond
16Municipal Bond 4.59
17Municipal Bond
18Municipal Single State
19Municipal Bond 5.95
20Municipal Bond 6.73
21Municipal Single State
22Municipal Bond
23Municipal Single Sta 6.77
24Municipal Single State
25Municipal Single State
5.84 6.54
4.38 4.7
6.3 6.58
7.17 7.51
