T. Rowe Price Marks 50 Years for 2 Funds as Volatility Lifts Focus on Cash, Tax-Free Income
Updated
Updated · PR Newswire · Jun 8
T. Rowe Price Marks 50 Years for 2 Funds as Volatility Lifts Focus on Cash, Tax-Free Income
2 articles · Updated · PR Newswire · Jun 8
Summary
T. Rowe Price is celebrating the 50th anniversaries of its Government Money Fund and Tax-Free Income Fund, both launched in 1976 and positioned as tools for liquidity, tax efficiency, and resilience in volatile markets.
The firm said the milestones highlight how investor needs have endured across rate and market cycles, with cash management and tax-exempt income still central to portfolio construction.
Money market funds have expanded from $2 billion to about $8 trillion industrywide since the late 1970s; T. Rowe Price now manages roughly $69 billion in liquidity-focused strategies, including $34 billion in money market mutual funds.
Its tax-exempt business totals about $31 billion, including $21 billion in tax-exempt mutual funds, as municipal bonds remain a source of federally tax-free income and diversification.
The two funds join six other T. Rowe Price funds with track records of at least 50 years, while the firm oversees $1.83 trillion in client assets overall.