FRCTX

About FRCTX

Franklin California Tax-Free Income Fund Class C is an open-end mutual fund designed to provide investors with a high level of income that is exempt from both federal and California personal income taxes. The fund primarily invests at least 80% of its assets in investment grade municipal bonds issued by California public entities, with maturities typically exceeding 12 years and an effective portfolio duration over 6 years. By focusing on bonds whose interest payments are tax-free at both the federal and state level, this fund serves a specialized role for California residents seeking tax-efficient income generation. The fund’s portfolio includes a broad range of California municipal securities, such as those backing health care facilities and infrastructure projects, and is actively managed to balance yield potential against interest rate risk. With monthly income distributions, it is positioned within the Muni California Long category and holds over a thousand distinct securities, making it one of the larger and more diversified options in its segment. Since its inception in 1977, the fund has played a notable role in the municipal bond space, helping investors address state and federal tax considerations through diversified municipal exposure.