T. Rowe Price Summit Municipal Money Market Fund (TRSXX)
Ticker Symbol:
Fund Status:
Open to new Retail investors  /  Open to subsequent Retail investments
Fund Objective
Quick Stats
Fiscal Year End  October
Inception Date 10/29/1993
Tax ID 52-1851275
Investment Objective
This fund seeks preservation of capital and liquidity and, consistent with these, the highest possible current income exempt from federal income taxes.
The fund, which is managed to provide a stable share price of $1.00, invests in high-quality municipal securities whose incomes are expected to be exempt from federal income taxes. All securities held by the fund will mature in 13 months or less. The fund's weighted average maturity will not exceed 60 days, and its yield will fluctuate with changes in short-term interest rates. Investments into retail money market funds are limited to natural persons or retail customers.
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Risk/Reward Potential*
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The fund offers a relatively secure, liquid investment for money you may need for occasional or unexpected expenses and for money awaiting investment in longer-term bond or stock funds. In addition to preserving capital, the fund seeks to provide the highest possible tax-exempt income available from low-risk, short-term municipal securities. The income dividends you receive from the fund should be exempt from federal income taxes, and your state may not tax the portion of the fund's income earned on the state's own obligations (if any).

You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. Beginning October 14, 2016, the Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.
* Annually we evaluate the standard deviation of each US mutual fund listed and its resulting placement within specific risk/return categories.

Methodology: If a fund is at least 5 year old, it is generally placed in risk/return categories based on the standard deviation of its performance for the longest period of its calendar year returns; the longest time period used for analysis is 10 years (regardless of the fund's inception). If a fund is less than 5 years old, we generally use the fund's primary benchmark disclosed in its prospectus as a proxy and follow the same process of using 10-year standard deviation of the benchmark, or longest time period available. The firm at its sole discretion may show a fund in a higher risk category based on qualitative or other factors that may differ from this methodology.
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