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Franklin California Tax-Exempt Money Fund

Fund Category: Money FundsGo to Prices & Performance page
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Symbol FCLXX
CUSIP 352 519 201
Fund Number 125
Inception Date1 Sep 03, 1985
Distributions Monthly
Total Net Assets
(all share classes)
As of 02/29/2012
$596.7
(millions)

As of  04/23/2014

NAV2 $1.00  
NAV Change $0.00  
POP3 $1.00  
YTD Total Return at NAV
7-day Current Yield4,5
(updated daily)
0.00%
7-day Effective Yield
(updated daily)
0.00%

Average Annual Total Returns
As of Quarter End 03/31/2014

w/ Sales Charge w/o Sales Charge
1 Yr
5 Yrs
10 Yrs 0.96% 0.96%
Life 2.32% 2.32%

Expense Ratio and Sales Charge As of 11/01/2013 (updated annually)

Gross Expense Ratio5 0.53%
Net Expense Ratio 0.53%
12b-1 Fee 0.00%

Fund Description

Strategy Statement
Portfolio Managers
Carrie Higgins
"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, 1990, 1992


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.

i. For investors subject to the alternative minimum tax, a small portion of fund dividends may be taxable. Distributions of capital gains are generally taxable.

Results

Hypothetical $10K Investment

Hypothetical $10K Investment

Investing in the Fund

What Are the Risks?
  • All investments involve risks, including possible loss of principal.
  • Investment return will fluctuate with market conditions due to municipal bonds’ sensitivity to interest-rate movements.
  • 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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Important Legal Information

Footnotes

For U.S. residents only.