FRMZX

About FRMZX

Franklin Missouri Tax-Free Income Fund Advisor Class is a municipal bond mutual fund designed to generate tax-exempt income for residents of Missouri. The fund primarily invests in a diversified portfolio of debt securities issued by Missouri state and local governments, agencies, and authorities, supporting public projects such as infrastructure, schools, and utilities. Its unique structure allows the interest income it produces to be generally exempt from both regular federal income tax and Missouri state personal income tax, making it particularly relevant for investors seeking tax-advantaged income within the state. Targeting longer-duration bonds, the fund falls into the "muni single-state long" category, focusing on issues with average maturities greater than 12 years and durations exceeding 6 years. It is managed by a team with significant municipal bond experience and typically maintains a broad portfolio—recently consisting of around 170 holdings—to reduce issuer-specific risk. Franklin Missouri Tax-Free Income Fund Advisor Class plays a vital role in enabling Missouri investors to align fixed-income exposure with their tax planning and local economic development objectives, while supporting critical public infrastructure across the state.