FCLXX

Franklin California Tax-Exempt Money Fund

This fund or share class has been closed to new investors.

Price As of 02/10/2016

NAV up $0.00 $1.00
POP $1.00

KEY STATS

Investment Category Money Market
Distributions Monthly
CUSIP 352 519 201
Fund Number 125
Inception Date Sep 03, 1985
Total Net Assets (all share classes) As of 01/31/2016 $588.2 (M)
7-Day Yields As of 02/10/2016 (updated daily)
Current⁴ Effective
w/ Waiver 0.00% 0.00%
w/o Waiver 0.00% 0.00%

EXPENSES & FEES As of 11/01/2015 (updated annually)

Gross Expense Ratio 0.53%
Net Expense Ratio 0.53%
Max Initial Sales Charge
CDSC 0.00%
12b-1 Fee 0.00%

Fund Description

The Fund invests predominantly in high-quality, short-term, California municipal securities whose interest is free from federal income taxes, including the federal alternative minimum tax, and from California 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."

Carrie Higgins

Management

Michael Conn, MBA

Michael Conn, MBA

  • Joined Franklin Templeton in 2001
  • Managed Fund Since 2009
Carrie Higgins

Carrie Higgins

  • Joined Franklin Templeton in 1990
  • Managed Fund Since 1992
John Joseph Bonelli

John Joseph Bonelli

  • Joined Franklin Templeton in 2010
  • Managed Fund Since 2013

Strategy, Benefits, Results

Strategy

  • We take a conservative approach.
  • We don't use leverage or invest in derivatives, which can increase portfolio volatility.
  • Our analysts search for high-quality, short-term, municipal securities.
  • We maintain a dollar-weighted average portfolio maturity of 60 days or less.
  • We only buy securities that are rated in the top two short-term ratings by nationally recognized U.S. rating services (or comparable unrated securities), and those that we believe present minimal credit risks.

Benefits

  • Our fund seeks to maintain a stable $1 share price
  • Portfolio diversification
  • Tenured investment team with expertise across market cycles
  • Investors can potentially earn monthly income exempt from federal income taxes and California personal income taxes i.

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