Which muni bond funds hold Detroit bonds?

By Susan Tompor, Detroit Free Press, FILED UNDER – Local News / Oakland County, Jun. 13, 2013

Individual investors who own municipal bond funds could have some exposure to Detroit bonds. But many municipal bond funds are diversified and hold bonds from various communities. Many bond fund experts have been well aware of Detroit’s financial troubles for quite some time, and some have said they expect Detroit to default on some outstanding bonds in the future.

• Susan Tompor: Insurers, not mutual funds, would take hit if Detroit debt goes bad

Detroit has $8 billion in bonds outstanding, but $5.4 billion are revenue bonds that should be insulated from a reorganization of Detroit’s debt, according to a report by AllianceBernstein. These revenue bonds were issued by the water and sewage systems and are secured by their revenues, the report noted. “Even if Detroit files for Chapter 9, we believe these bondholders (water and sewer) should continue to be paid,” according to AllianceBernstein.

Sort this list of which muni bond funds hold Detroit bonds by clicking the column headings.

If the table below does not work, click here for a PDF version: List muni bond funds holding Detroit bonds-By Susan Tompor-Detroit Free Press-Jun. 13, 2013

Mutual fund family	Muni funds holding Detroit bonds	Total value of Detroit issues	Percent of total assets in Detroit issues
Franklin Templeton Investment Funds	6	$569,821,208	0.71%
Wells Fargo Advantage	7	$332,020,146	1.57%
OppenheimerFunds	6	$298,640,459	0.81%
Vanguard	5	$253,079,642	0.24%
Fidelity Investments	10	$225,727,521	0.72%
Nuveen	9	$224,240,788	0.76%
Legg Mason	4	$118,175,648	0.75%
American Funds	4	$92,973,491	0.46%
Goldman Sachs	2	$92,960,686	1.02%
Thornburg	3	$83,734,146	0.96%
AllianceBernstein	7	$81,074,975	0.53%
American Century Investments	3	$76,753,765	1.08%
Lord Abbett	5	$70,415,552	0.57%
DWS Investments	4	$67,116,592	0.54%
Dreyfus	6	$65,786,470	0.72%
MainStay	2	$44,973,841	1.99%
Eaton Vance	6	$44,296,100	0.39%
Columbia	5	$39,333,373	0.27%
JPMorgan	6	$31,922,986	0.25%
Ivy Funds	2	$21,333,478	1.15%
Putnam	4	$19,422,871	0.26%
MFS	3	$18,555,815	0.20%
Invesco	4	$17,555,515	0.14%
T. Rowe Price	2	$16,228,349	0.10%
First Investors	2	$15,918,035	1.00%
Federated	2	$15,263,645	0.23%
BMO Funds	3	$14,712,145	0.64%
SEI	3	$13,325,454	0.42%
BNY Mellon Funds	4	$13,185,828	0.26%
Waddell & Reed	2	$12,107,985	0.63%
Prudential Investments	2	$11,310,485	0.62%
Virtus	1	$6,303,635	1.62%
UBS	1	$5,559,570	1.43%
John Hancock	2	$4,879,606	0.39%
BlackRock	2	$4,333,450	0.05%
Pioneer Investments	1	$3,484,740	0.20%
Baird	1	$3,484,598	0.30%
Glenmede	1	$3,470,880	1.29%
Russell	1	$3,367,884	0.40%
Alpine	1	$3,185,666	0.22%
Capital Guardian Trust Company	2	$2,796,000	0.35%
RS Funds	1	$2,149,260	0.31%
Guggenheim Investments	1	$2,036,664	2.80%
Sit	1	$1,888,130	0.31%
Hartford Mutual Funds	1	$1,887,970	0.31%
Principal Funds	1	$1,840,305	0.36%
U.S. Global Investors	2	$1,116,469	1.50%
PIMCO	2	$1,080,310	0.05%
Northern Funds	3	$1,013,060	0.02%
Manning & Napier	1	$750,090	0.23%
Transamerica	1	$740,330	5.12%
Delaware Investments	1	$500,585	0.01%
Madison Funds	1	$494,680	0.91%
Trust for Professional Mgrs(PTIA)	1	$282,368	0.65%
GE Asset Management	1	$0	0.00%
Highland Funds	1	$0	0.00%

Records 1-56 of 56

Note: The dates for the total market value of Detroit issues may vary based on what is reported to Morningstar. Dates would likely be within the last three months but could be as long ago as six months.

Source: Morningstar, Inc.