FCAHX

About FCAHX

Franklin California High Yield Municipal Fund Class C is a municipal bond mutual fund designed to provide a high level of income that is exempt from both federal and California personal income taxes. Managed by Franklin Templeton, the fund primarily invests at least 80% of its net assets in municipal securities, focusing on bonds issued by entities within California. Its portfolio spans key sectors such as special tax districts, housing, education, transportation, health care, utilities, and local government issuers, with additional exposure to municipal debt from other U.S. states and territories like Puerto Rico and Guam. The fund is notable for its inclusion of lower-rated, higher-yielding municipal bonds, resulting in above-average risk relative to its peer group. With a significant portion allocated to non-rated and below-investment-grade bonds, it aims to offer a higher yield, paid monthly, to investors seeking tax-advantaged income. Since its inception in 1996, the fund has played a role in assisting California residents to meet income objectives while potentially supporting local public infrastructure and services through its investment choices.