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JPMorgan tops in muni funds despite outflows

Its Intermediate Tax Free Bond Fund outperforms most of its rivals

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GETTING AHEAD JPMorgan's Intermediate fund has historically defeated its competition during volatile periods. It outperformed 75% of peers in 2007 and 82% in 2008, the first full year of the recession. - PHOTO: AFP

New York

IN a record year for US municipal mutual fund withdrawals, the JPMorgan Intermediate Tax Free Bond Fund shrank more than 25 per cent. Yet it has still outpaced almost two-thirds of its peers.

Investors yanked US$1.4 billion as at Nov 30, after it started the year with...

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