FCITX

About FCITX

Franklin Federal Intermediate-Term Tax-Free Income Fund Class C is an actively managed municipal bond mutual fund focused on delivering income that is exempt from regular federal income taxes. The fund invests at least 80% of total assets in municipal securities whose interest is free from federal income taxes, including the federal alternative minimum tax, and maintains a dollar‑weighted average maturity between three and ten years. It purchases investment-grade municipal bonds, generally limited to those rated within the top four categories by nationally recognized rating agencies at the time of purchase. Positioned in the national intermediate municipal category, the fund seeks a balance between income stability and interest rate sensitivity typical of the intermediate segment. It distributes income on a monthly basis and is part of the Franklin Templeton municipal platform, offering diversified exposure across states, sectors, and issuers within the U.S. tax-exempt market. The strategy is designed for investors seeking federally tax‑exempt income with prudent risk management through quality standards and intermediate duration guidelines.