FCAMX

About FCAMX

Franklin California High Yield Municipal Fund Class A1 is a municipal bond mutual fund designed to provide investors with federally and California state tax-exempt income. The fund primarily invests at least 80% of its assets in municipal securities issued by the state of California and its municipalities, focusing on bonds that are exempt from regular federal income taxes and California personal income taxes. It may also allocate up to 35% of its assets to municipal securities from U.S. territories and can hold securities subject to the federal alternative minimum tax. This fund targets the higher-yield segment of the municipal bond market, often selecting bonds with lower credit ratings in exchange for enhanced income potential. As a result, it typically serves investors seeking a stream of tax-advantaged income and willing to accept higher risk associated with high-yield municipal issues. The portfolio is widely diversified across various California municipal issuers, including general obligation and revenue bonds supporting infrastructure, education, community development, and other sector projects. The fund is notable for its regular monthly income distributions and has a long history, dating back to its inception in 1993. Because of these features, Franklin California High Yield Municipal Fund Class A1 plays an important role for California residents or those seeking regional municipal bond exposure while pursuing income that is largely exempt from both federal and state taxes.