FCCRX

About FCCRX

Franklin California Intermediate-Term Tax-Free Income Fund Class R6 is an actively managed municipal bond mutual fund focused on generating income that is exempt from regular federal and California personal income taxes. The strategy centers on investment-grade California municipal securities, maintaining a dollar‑weighted average portfolio maturity of roughly six to twelve years to balance income generation with interest rate sensitivity. The portfolio is broadly diversified across key public finance sectors—including transportation, special tax, housing, utilities, education, local government, and health care—reflecting the financing needs of California’s economy and infrastructure. Credit quality skews toward higher-rated bonds, with significant allocations to AA and A tiers, alongside selective exposure to BBB and below‑investment‑grade issues for incremental yield, and a modest refunded and unrated sleeve. The fund’s California emphasis is pronounced, with the vast majority of assets tied to the state, supplemented minimally by other U.S. territories when consistent with its mandate. Within the municipal market, this fund serves investors seeking tax‑advantaged income and intermediate duration characteristics under a disciplined, preservation‑minded approach.