FMDTX

About FMDTX

Franklin Maryland Tax-Free Income Fund Class A1 is a mutual fund focused on providing federally and Maryland state tax-exempt income to investors. It primarily invests in municipal bonds issued by Maryland state and local governments, which finance public projects such as infrastructure, schools, and utilities. The fund targets securities whose interest payments are exempt from federal income taxes—including the federal alternative minimum tax—and, for Maryland residents, often exempt from state taxes as well. Classified under the muni single-state long category, it maintains a portfolio with longer durations and average maturities exceeding 12 years, focusing on generating stable, tax-advantaged income. The fund is managed by a dedicated team with experience in municipal credit selection and local market dynamics, though recent ratings indicate a below-average process relative to peers. With its targeted geographic exposure, the Franklin Maryland Tax-Free Income Fund Class A1 plays a specialized role for investors seeking tax-efficient income within the Maryland municipal bond market and greater diversification within their fixed income allocations.