FRMTX

About FRMTX

Franklin Michigan Tax-Free Income Fund Class C is a municipal bond mutual fund focused on delivering a high level of income that is exempt from both federal income taxes and Michigan state personal income taxes. The fund primarily invests in a diversified portfolio of municipal securities issued by Michigan state and local governments, using at least 80% of its assets for this purpose. By concentrating on Michigan municipal bonds, the fund supports essential public projects within the state, such as infrastructure and community development. It appeals to investors seeking tax-advantaged income, particularly Michigan residents, and is structured to provide capital preservation alongside modest income potential. With a monthly dividend payout, the fund plays a specialized role in the market as a single-state muni fund, offering targeted exposure to Michigan's municipal debt sector and serving as a tool for managing tax efficiency in fixed income portfolios. Established in 1995, it is managed by Franklin Templeton, a firm recognized for its focus on municipal bond strategies.