PNC MD Tax-Exempt Bond A Load Waived  PDTAX.LW
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2009-10-31
Out of
Muni Single State Short Funds
Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance.
Morningstar®
Style Box™
What is this?
   Avg Duration
   ---
   Avg Credit Quality
   ---
As of 2009-06-30
Day Change
$ 0.01
  
NAV (2009-11-20)
$ 11.20
  
YTD Return % (2009-11-20)
6.81%
  
Total Assets ($ mil)
77
View Data Definitions
  Performance    
Growth of $10,000 Fund: PNC MD Tax-Exempt Bond A Load Waived
(from 2002-09-30 to 2009-10-31) Category: Muni Single State Short
Index: Barcap Municipal!
Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-20
Inception date: 2002-09-30 10yr and Inception Returns as of 2009-10-31
YTD Returns as of 2009-11-20
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Fund 6.81 7.35 3.78 3.07 --- 2.63
+/- Category 1.86 -0.15 0.18 0.23 --- ---
+/- Barcap Municipal! --- --- --- --- --- ---
Standardized Annual Returns %   more on standardized returns
Quarter-End (as of 2009-09-30) 7.24 9.62 4.13 3.16 --- 2.88
Month-End (as of 2009-10-31) 5.62 8.43 3.45 2.78 --- 2.63
After Tax Returns % (as of 2009-09-30 )  
On Distribution --- 8.43 3.45 2.78 --- ---
On Distribution & Sale of Shares --- 6.38 3.36 2.79 --- ---
Morningstar Rating --- --- --- ---
# of compared funds covered (3 yrs : out of 11 funds), (5 yrs : out of 11 funds), (10 yrs : out of funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is none.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.
  Portfolio Profile    
Sector Breakdown %
General Obligations 35.35
Advance Refunded 7.35
State Appropriated Tobacco ---
Non-state Appropriated Tobacco ---
Education 4.53
Health 14.86
Housing ---
Industrial ---
Transportation 8.56
Utilities 2.93
Water/Sewer 15.28
Misc. Revenue 11.14
Bond Quality % of Bonds
AAA ---
AA ---
A ---
BBB ---
BB ---
B ---
Below B ---
Not Rated ---
 
Asset Allocation
% of Net Assets
Cash 2.8
Stocks 0.0
Bonds 97.2
Other 0.0
Foreign Stocks 0.0
(as a % of Assets)
Data through 2009-06-30 Data through 2009-06-30
 
Holding Status
Total Number of Stock Holdings Turnover % 29
Total Number of Bond Holdings 70 30 Day SEC Yield % 2.80
% of Assets in Top 10 Holdings 28.48 ending as of 2009-09-30
View Data Definitions
Top 10 Holdings Maturity
Date		 Amount
$000		 Value
$000		 % of Net
Assets
Baltimore Md Proj Rev Rev Bds 5% 2033-07-01 2,000 2,253 3.49
MARYLAND ST DEPT TRANSN CONS T CONSLDTD 2022-09-01 2,000 2,186 3.39
Maryland St Go Bds 5% 2016-08-01 2,000 2,183 3.38
Frederick Cnty Md G O Ref P 5% 2017-08-01 1,730 1,928 2.99
Prince Georges Cnty Md Cons Pub 5% 2023-10-01 1,685 1,911 2.96
Baltimore Md Proj Rev Rev Bds 5% 2030-07-01 1,500 1,716 2.66
Maryland St Health & Higher Ed Rev 6.5% 2035-04-01 1,700 1,700 2.63
Maryland St Econ Dev Corp Rev Bds 6.5% 2027-06-01 1,350 1,593 2.47
Puerto Rico Comwlth Hwy & Tran Tra 5.75% 2041-07-01 1,350 1,507 2.34
Prince Georges Cnty Md Spl Obl Spl Ob 7% 2032-07-01 1,179 1,399 2.17
Data through 2009-06-30
  Other Information
Fund Inception: 2002-09-30
Portfolio Manager  (Start Date)
Stephen Winterstein  (2007-06-18)
Winterstein is a senior vice president and managing director of PCA. He joined the firm in June 2007. Since 1993, Winterstein has been a managing director and senior vice president of PNC Wealth Management, an affiliate of PCA.
Rebecca Rogers  (2009-09-30)
Rogers is a vice president of PCA. Prior to joining PCA in June 2007, she has been a vice president of PNC Wealth Management, an affiliate of MCA, since 2000.
Adam Mackey  (2007-06-18)
Mackey is a vice president of PCA. He joined PCA in June 2007. Mackey has been a vice president of PNC Wealth Management, an affiliate of MCA, since 2001.
Sales Charge %
(taken from prospectus dated 2009-09-30)
Front: None
Deferred: None
Expense Ratio % 1.03
based on net assets
(taken from annual report dated 2008-05-31)
Correspondence Information
Two Hopkins Plz

BALTIMORE,  MD  21201
USA
Telephone:
800-551-2145
Data on this page does not include the fund's short positions (if any).
Show Data Definitions

© Copyright 2009 Morningstar, Inc. All rights reserved. Morningstar, the Morningstar logo, Morningstar.com, Morningstar Tools are either trademark or service marks of Morningstar, Inc.
Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.