FNYIX

About FNYIX

Franklin New York Tax-Free Income Fund Class C is a municipal bond mutual fund designed to provide investors with tax-exempt income. Its primary objective is to generate as high a level of interest income as possible that is exempt from federal, New York State, and New York City personal income taxes, while seeking to preserve shareholder capital. The fund mainly invests in debt securities issued by New York municipalities and agencies, allocating over 90% of its assets to New York-based securities, with additional exposure to select other U.S. territories and states. The portfolio is diversified across sectors including transportation, special tax, utilities, education, and healthcare. It emphasizes investment-grade credit quality, primarily holding bonds rated AA and A. By distributing income monthly and targeting tax-free yields, this fund plays a significant role for investors seeking to minimize tax liabilities on interest income, especially those residing in New York. Its role in the market is to provide a stable, tax-advantaged stream of income alongside exposure to the municipal fixed income sector.