Franklin New Jersey Tax-Free Income Fund Class A1 is a municipal bond mutual fund designed to deliver income that is exempt from both regular federal income taxes and New Jersey state personal income taxes. The fund primarily invests in investment-grade municipal securities that are issued by various entities within New Jersey, supporting initiatives such as infrastructure development, healthcare, and transportation. By maintaining at least 80% of its net assets in federally tax-exempt securities, the fund targets investors seeking tax-advantaged income, particularly those residing in New Jersey. Notable for its diversified holdings across sectors like transportation authorities, healthcare facility finance, and economic development agencies, the fund plays a key role in channeling capital to essential public projects in the state. Its credit quality and interest rate sensitivity are considered moderate, and it offers a yield that appeals to investors focused on after-tax returns. With its municipal bond focus, the fund helps facilitate access to capital for local governments and authorities while providing shareholders a vehicle for income generation with a tax-efficient structure.
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