Franklin New York Tax-Free Income Fund Class R6 is a municipal bond mutual fund designed to provide investors with a high level of income that is exempt from federal, New York State, and New York City personal income taxes. The fund primarily invests in a diversified portfolio of municipal securities issued by New York State and its local governments and agencies, focusing on preserving capital while delivering steady tax-advantaged income. Its portfolio features a wide array of holdings, including revenue bonds from transportation, housing, and public utility sectors within New York. With over 400 individual bond holdings, the fund targets credit and interest rate risk profiles suited to long-term municipal bond investors. Monthly dividend distributions and a competitive expense ratio position the fund as an efficient option for those seeking consistent, tax-free income, especially New York residents with higher tax liabilities. Established in 2017, Franklin New York Tax-Free Income Fund Class R6 plays a significant role for institutional and retirement-focused investors aiming to maximize after-tax returns through municipal bond exposure in one of the nation’s largest state-specific markets.
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