Fund Description

The fund seeks to provide investors with as high a level of income exempt from federal income taxes and Michigan personal income taxes as is consistent with prudent investment management and the preservation of shareholders’ capital.

Strategy Statement

"In the Franklin Muni Department, we are committed to a conservative, disciplined investment strategy. We seek to provide shareholders with a high level of tax-free income while preserving capital."


John Pomeroy

John Pomeroy

  • Joined Franklin Templeton in 1986
  • Managed Fund Since 1989
James Conn, CFA

James Conn, CFA®

  • Joined Franklin Templeton in 1996
  • Managed Fund Since 1999
Dylan G. Sanderson

Dylan G. Sanderson

  • Joined Franklin Templeton in 2003
  • Managed Fund Since 2017

Strategy, Benefits, Results


  • We take a conservative, income-oriented approach.
  • We don't use leverage or invest in derivatives, which can increase portfolio volatility.
  • Our analysts search for high-quality, undervalued bonds.
  • We buy and hold for the long term.


  • Monthly income exempt from federal income taxes and Michigan personal income taxes.i
  • Portfolio diversification
  • Tenured investment team has expertise across market cycles

Selling The Fund

  1. Call attention to Franklin's leadership in municipal bond asset management.
  2. Highlight the fund's:
    • Conservative investment strategy
    • Attractive taxable-equivalent yield
    • Historically lower volatility record
    • Relatively low expense ratio
    • Experienced portfolio management team

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