FNYTX

Franklin New York Tax-Free Income Fund

PRICE AND YTD RETURN As of 02/10/2016

NAV down $-0.01 $11.55
POP $12.06
YTD Total return at Nav 1.21%

AVERAGE ANNUAL TOTAL RETURNS As of Quarter end 12/31/2015

Sales Charge

1 YEAR RETURN -2.80%
5 YEAR RETURN 3.46%
10 YEAR RETURN 3.49%

KEY STATS

Investment Category Municipal Bonds
Distributions Monthly
CUSIP 354 130 106
Fund Number 115
Inception Date Sep 13, 1982
Total Net Assets (all share classes) As of 01/31/2016 $5,067.9 (M)
Distribution Rate at NAV As of 02/10/2016 3.57%
30-Day Standardized yield As of 01/31/2016 (updated monthly) 1.32%

SALES CHARGE, EXPENSES, & FEES As of 10/01/2015 (updated annually)

Gross Expense Ratio 0.61%
Net Expense Ratio 0.61%
Max Initial Sales Charge 4.25%
CDSC 0.00%
12b-1 Fee 0.10%

Fund Description

The Fund invests at least 80% of its total assets in securities that pay interest free from federal income taxes, including the federal alternative minimum tax, and New York State personal income taxes.

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, MBA

Management

John Pomeroy, MBA

John Pomeroy, MBA

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

James Conn, CFA®, MBA

  • Joined Franklin Templeton in 1996
  • Managed Fund Since 1999

Overall Morningstar Rating As of 01/31/2016

Rating Category: Muni New York 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 As of 01/31/2016

Years Ratings Funds
in category
3
1 Stars
88
5
2 Stars
81
10
3 Stars
67

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We do not publish a style box for this fund.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 strive to keep exposure to AMT bonds at or close to 0%.i (AMT bonds are municipal bonds whose income historically have been subject to the alternative minimum tax.)
  • 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 regular federal, New York state and New York City personal income taxesi
  • Portfolio diversification
  • Tenured investment team with expertise across market cycles

Investing In The Fund

What Are the Risks?
  • All investments involve risks, including possible loss of principal.
  • The fund’s yield and share price will fluctuate with market conditions due to municipal bonds’ sensitivity to interest-rate movements.
  • Bond prices generally move in the opposite direction of interest rates, thus the fund’s share price may decline as the prices of bonds adjust to a rise in interest rates.
  • The fund concentrates investments in a single state and is therefore subject to greater risk of adverse economic and regulatory changes in that state than a geographically diversified fund.
  • The fund holds a small portion of its assets in Puerto Rico municipal bonds that have been impacted by recent adverse economic and market changes, which may cause the fund’s share price to decline.
  • These and other risks are discussed in the fund’s prospectus.

Minimum Investment

$1,000.00

How Financial Advisors Help You

Speak to your financial advisor about whether this fund is appropriate for you. If you don't have a financial advisor, request a referral.

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