FKTIX

Franklin Federal Tax-Free Income Fund

PRICE AND YTD RETURN As of 05/02/2016

NAV down $-0.04 $12.44
POP $12.99
YTD Total return at Nav 2.10%

AVERAGE ANNUAL TOTAL RETURNS As of Quarter end 03/31/2016

Sales Charge

1 YEAR RETURN -1.57%
5 YEAR RETURN 5.18%
10 YEAR RETURN 4.24%

KEY STATS

Investment Category Municipal Bonds
Distributions Monthly
CUSIP 353 519 101
Fund Number 116
Inception Date Oct 07, 1983
Total Net Assets (all share classes) As of 03/31/2016 $10,977.4 (M)
Distribution Rate at NAV As of 05/02/2016 3.81%
30-Day Standardized yield As of 03/31/2016 (updated monthly) 1.46%

SALES CHARGE, EXPENSES, & FEES As of 09/01/2015 (updated annually)

Gross Expense Ratio 0.62%
Net Expense Ratio 0.62%
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 investment grade municipal securities whose interest is free from federal income taxes, including the federal alternative minimum tax.

 

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. "

Carrie Higgins

Management

Carrie Higgins

Carrie Higgins

  • Joined Franklin Templeton in 1990
  • Managed Fund Since 2004
Francisco Rivera

Francisco Rivera

  • Joined Franklin Templeton in 1994
  • Managed Fund Since 1996
Sheila Amoroso, MBA

Sheila Amoroso, MBA

  • Joined Franklin Templeton in 1986
  • Managed Fund Since 1987

Overall Morningstar Rating As of 03/31/2016

Rating Category: Muni National 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 03/31/2016

Years Ratings Funds
in category
3
2 Stars
181
5
3 Stars
175
10
3 Stars
143

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We do not publish a style box for this fund.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 taxes1
  • 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.
  • Because municipal bonds are sensitive to interest rate movements, the fund’s yield and share price will fluctuate with market conditions.
  • Bond prices generally move in the opposite direction of interest rates. Thus, as prices of bonds in the fund adjust to a rise in interest rates, the fund’s share price may decline.
  • 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 risk considerations 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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