Not FDIC Insured | No Financial institution Assure | Might Lose Worth
Fund Particulars
|
Inception Date |
09/21/1992 |
|
Benchmark |
Linked Bloomberg Muni M.F. CA Intermediate/10-Yr Muni Bond Index, Bloomberg Municipal M.F. CA Intermediate Index |
Fund Description
The fund seeks to supply traders with as excessive a stage of revenue exempt from common federal revenue taxes and California private revenue taxes as is in line with prudent funding administration and the preservation of shareholders’ capital. a The fund maintains a dollar-weighted common portfolio maturity of 6 to 12 years.
Funding Workforce
|
John Wiley Years with Agency 35 Years Expertise 35 |
Chris Sperry, CFA Years with Agency 28 Years Expertise 28 |
John Bonelli Years with Agency 14 Years Expertise 14 |
|
Michael Conn Years with Agency 23 Years Expertise 31 |
What Are The Dangers?
All investments contain dangers, together with attainable lack of principal. Fastened revenue securities contain rate of interest, credit score, inflation and reinvestment dangers, and attainable lack of principal. As rates of interest rise, the worth of mounted revenue securities falls. Portfolios centered on a single state are topic to better threat of antagonistic financial and regulatory modifications in that state than a geographically diversified fund. Modifications within the credit standing of a bond, or within the credit standing or monetary power of a bond’s issuer, insurer or guarantor, could have an effect on the bond’s worth. An investor could also be topic to the federal Different Minimal Tax, and state and native taxes could apply. These and different dangers are mentioned within the fund’s prospectus.
Vital Info
The data offered is just not a whole evaluation of each materials truth concerning any nation, market, trade, safety or fund. As a result of market and financial situations are topic to vary, feedback, opinions and analyses are rendered as of the date of this materials and should change with out discover. A portfolio supervisor’s evaluation of a specific safety, funding or technique is just not meant as particular person funding recommendation or a advice or solicitation to purchase, promote or maintain any safety or to undertake any funding technique; it’s meant solely to supply perception into the fund’s portfolio choice course of. Holdings are topic to vary.
Earlier than investing, rigorously contemplate a fund’s funding targets, dangers, prices and bills. Yow will discover this and different info in every prospectus, or abstract prospectus, if accessible, at www.franklintempleton.com. Please learn it rigorously.
Franklin Distributors, LLC. Member FINRA/SIPC.
CFA® and Chartered Monetary Analyst® are emblems owned by CFA Institute.
Supply: FactSet. Vital information supplier notices and phrases accessible at www.franklintempletondatasources.com.
Dividends are usually topic to state and native taxes, if any. For traders topic to the choice minimal tax, a small portion of fund dividends could also be taxable. Distributions of capital features are usually taxable. Gross bills are the fund’s complete annual working bills as of the fund’s prospectus accessible on the time of publication. Precise bills could also be greater and should influence portfolio returns. Internet bills replicate contractual charge waivers, expense caps and/or reimbursements, which can’t be terminated previous to 10/31/2024 with out Board consent. Extra quantities could also be voluntarily waived and/or reimbursed and could also be modified or discontinued at any time with out discover. Efficiency quotations for this class replicate the next strategies of calculation: a) For durations previous to the fund’s Advisor Class inception date, a restated determine is used based mostly on the fund’s oldest share class, Class A1 efficiency, excluding the impact of Class A1’s most preliminary gross sales cost however reflecting the impact of the Class A1 Rule 12b-1 charges; and for durations after the fund’s Advisor Class inception date, precise Advisor Class efficiency is used, reflecting all prices and charges relevant to that class. Efficient 09/10/2018 Class A shares closed to new traders, had been renamed Class A1 shares, and a brand new Class A share with a unique expense construction grew to become accessible. Class A efficiency proven has been calculated as follows: (a) for durations previous to 09/10/2018, a restated determine is used based mostly on the fund’s Class A1 efficiency and together with any Rule 12b-1 charge differential as exists between Class A1 and Class A; and (b) for durations after 09/10/2018, precise Class A efficiency is used, reflecting all prices and charges relevant to that class.
© 2024 Franklin Templeton. All rights reserved.
