FRMOX

Franklin Missouri Tax-Free Income Fund

Fund Description

The Fund invests at least 80% of its total assets in securities that pay interest free from the personal income taxes, if any, of that Fund’s state.

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 1992
Stella Wong, MBA

Stella Wong, MBA

  • Joined Franklin Templeton in 1981
  • Managed Fund Since 1987

Rating

Overall Morningstar Rating As of 06/30/2016

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 As of 06/30/2016

Years Ratings Funds
in category
3
1 Stars
278
5
2 Stars
262
10
3 Stars
222

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We do not publish a style box for this fund.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 income taxes and Missouri personal income taxes.i.
  • 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.
  • 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.
  • Investments concentrated in a single state are subject to greater risk of adverse economic and regulatory changes in that state than a geographically diversified fund.
  • The fund holds a 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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