Franklin California Intermediate-Term Tax-Free Income Fund

Fund Description

The Fund invests at least 80% of its total assets in investment grade municipal securities whose interest is free from federal income taxes and from California personal income taxes. The Fund maintains a dollar-weighted average portfolio of three to 10 years.

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."

Chris Sperry, CFA®

Management

John Wiley

John Wiley

  • Joined Franklin Templeton in 1989
  • Managed Fund Since 1992
Chris Sperry, CFA

Chris Sperry, CFA®

  • Joined Franklin Templeton in 1996
  • Managed Fund Since 2000
John Bonelli

John Bonelli

  • Joined Franklin Templeton in 2010
  • Managed Fund Since 2020
Michael Conn

Michael Conn

  • Joined Franklin Templeton in 2001
  • Managed Fund Since 2020

Rating

Overall Morningstar Rating As of 06/30/2021

Rating Category: Muni California Intermediate

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 06/30/2021

Years Ratings Funds
in category
3
3 Stars
63
5
3 Stars
57
10
4 Stars
49

Morningstar Style Box

We do not publish a style box for this fund.

Strategy, Benefits, Results

Strategy

  • We believe an active, research-driven approach is critical, given
    the size of the municipal market
  • Our team seeks to identify and capture attractive value
    opportunities across the municipal bond landscape to deliver a tax-
    efficient portfolio
  • We place an emphasis on risk management, which is fully
    incorporated into our research and portfolio construction process

Benefits

  • Monthly income exempt from federal income taxes and California personal income taxesi
  • Portfolio diversification
  • Tenured investment team with expertise across market cycles