Franklin New York Intermediate-Term Tax-Free Income Fund Class A1 is an open-end municipal bond mutual fund focused on delivering income that is exempt from federal, New York State, and New York City personal income taxes. The fund primarily invests in investment-grade municipal securities issued by New York entities, targeting an intermediate duration profile to balance income generation with interest-rate sensitivity. Its mandate emphasizes at least a substantial majority of assets in tax-exempt bonds, seeking diversified exposure across essential-service revenue bonds, general obligation debt, and credits tied to sectors such as transportation, healthcare, education, and utilities. Managed by Franklin Templeton’s municipal bond team, the strategy applies credit research and active risk management to navigate issuer quality, call features, and yield-curve positioning within the New York muni market. With published information highlighting its tax-exempt income objective and intermediate-term focus, the fund plays a role for investors seeking state- and city-specific tax advantages while maintaining moderate interest-rate risk relative to long-duration municipal strategies.
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