FRKYX

Franklin Kentucky Tax-Free Income Fund

PRICE AND YTD RETURN As of 04/29/2016

NAV up $0.00 $11.32
POP $11.82
YTD Total return at Nav 1.74%

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

Sales Charge

1 YEAR RETURN -2.27%
5 YEAR RETURN 4.11%
10 YEAR RETURN 3.62%

KEY STATS

Investment Category Municipal Bonds
Distributions Monthly
CUSIP 354 723 728
Fund Number 172
Inception Date Oct 12, 1991
Total Net Assets (all share classes) As of 03/31/2016 $172.9 (M)
Distribution Rate at NAV As of 04/29/2016 3.58%
30-Day Standardized yield As of 03/31/2016 (updated monthly) 1.45%

SALES CHARGE, EXPENSES, & FEES As of 07/01/2015 (updated annually)

Gross Expense Ratio 0.78%
Net Expense Ratio 0.78%
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 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."

Francisco Rivera

Management

Michael Conn, MBA

Michael Conn, MBA

  • Joined Franklin Templeton in 2001
  • Managed Fund Since 2010
Francisco Rivera

Francisco Rivera

  • Joined Franklin Templeton in 1994
  • Managed Fund Since 1996

Overall Morningstar Rating As of 03/31/2016

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 03/31/2016

Years Ratings Funds
in category
3
2 Stars
268
5
2 Stars
263
10
3 Stars
216

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We do not publish a style box for this fund.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 Kentucky 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 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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