FRALX

About FRALX

Franklin Alabama Tax-Free Income Fund Class A1 is a single-state municipal bond mutual fund focused on delivering a high level of income exempt from regular federal income taxes and Alabama personal income taxes. The fund primarily invests in investment-grade bonds issued by Alabama state and local governments and related authorities to finance public projects, aligning with the Muni Single State Long category that typically holds longer-duration portfolios. Its mandate emphasizes maintaining at least 80% of assets in securities whose interest is federally tax-exempt, including from the alternative minimum tax. The portfolio’s exposures span essential-service and public-institution issuers such as water and sewer systems, universities, healthcare, and local government revenue bonds, reflecting the state’s infrastructure and public finance needs. This fund serves investors seeking state-specific tax efficiency and municipal bond diversification within Alabama, balancing credit quality considerations with interest rate sensitivity characteristic of longer-duration muni strategies.