Fund Description

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

Management

John Wiley

John Wiley

  • Joined Franklin Templeton in 1989
  • Managed Fund Since 2020
Chris Sperry, CFA

Chris Sperry, CFA®

  • Joined Franklin Templeton in 1996
  • Managed Fund Since 2020
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 03/31/2021

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 03/31/2021

Years Ratings Funds
in category
3
3 Stars
204
5
3 Stars
160
10
3 Stars
141

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We do not publish a style box for this fund.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 tax i.
  • Portfolio diversification
  • Tenured investment team with expertise across market cycles