Franklin Pennsylvania Tax-Free Income Fund Class A1 is a municipal bond mutual fund focused on delivering federally and Pennsylvania state tax-exempt income. Its primary investment objective is to provide shareholders with a high level of income free from both federal income taxes and Pennsylvania personal income taxes, making it particularly attractive to residents of Pennsylvania seeking tax-advantaged income streams. The fund invests at least 80% of its net assets in a diversified portfolio of municipal securities primarily issued by Pennsylvania, including bonds supporting state infrastructure, education, health care, and local government projects. Managed by a team of professionals, the fund holds over 200 individual securities, emphasizing credit quality and interest rate management, and is characterized by an effective duration generally around seven years. With a moderate expense ratio and a strong focus on creditworthy issuers, Franklin Pennsylvania Tax-Free Income Fund Class A1 plays a significant role in the tax-exempt bond market for Pennsylvania investors, supporting state and municipal development while seeking to provide stable, tax-efficient income.
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