Fund Description

The fund seeks to provide investors with as high a level of income exempt from federal income taxes and Georgia 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."

Francisco Rivera

Management

Francisco Rivera

Francisco Rivera

  • Joined Franklin Templeton in 1994
  • Managed Fund Since 1996
Daniel Workman, CFA

Daniel Workman, CFA®

  • Joined Franklin Templeton in 2003
  • Managed Fund Since 2013

Rating

Overall Morningstar Rating [further-information] As of 10/31/2019

Rating Category: Muni Single State Long

Morningstar
The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics.

Historical Morningstar Rating [further-information] As of 10/31/2019

Years Ratings Funds
in category
3
3 Stars
185
5
3 Stars
169
10
4 Stars
142

Morningstar Style Box

We do not publish a style box for this fund.

Strategy, Benefits, Results

Strategy

  • 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.

Benefits

  • Monthly income exempt from federal income taxes and Georgia personal income taxesi
  • 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
    • Relatively low expense ratio
    • Experienced portfolio management team