Franklin California Tax-Free Income Fund Class A is a mutual fund that focuses on generating high levels of income exempt from both federal and California state personal income taxes. The fund primarily invests at least 80% of its total assets in investment-grade municipal securities issued by entities within California, ensuring that the interest income it produces is generally tax-free for California residents. With a large asset base exceeding $13 billion and a portfolio diversified across more than 1,000 holdings, the fund plays a significant role in the market for municipal bonds and local government finance. Its holdings support essential public sectors such as transportation infrastructure and healthcare, as evidenced by major exposures to bonds from California transportation agencies and healthcare facilities. The fund distributes income monthly and is often used by investors seeking tax-advantaged income streams. Since its inception in 1977, Franklin California Tax-Free Income Fund Class A has catered primarily to individuals seeking tax efficiency and a degree of capital preservation, while contributing to the funding of critical public projects statewide.
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