About FALEX
Franklin Alabama Tax-Free Income Fund Class C is a municipal bond mutual fund designed to provide investors with income that is exempt from both regular federal income taxes and Alabama state personal income taxes. The fund primarily invests at least 80% of its assets in securities issued by Alabama state and local governments, or their agencies, which fund a variety of public projects. This fund is especially relevant for investors seeking tax-advantaged income, particularly Alabama residents who benefit from state-level tax exemptions.
The portfolio typically features bonds with longer durations, averaging maturities over 12 years, placing it in the muni single-state long category. Holdings often include a mix of municipal issuers such as universities, water works boards, cities, and public utilities within Alabama. The fund pays monthly dividends and has a focus on credit quality and diversification across local issuers. As of recent data, Franklin Alabama Tax-Free Income Fund Class C manages hundreds of millions in assets, with a dividend yield around 2.2% and a turnover ratio reflective of a moderately stable investment strategy. Its role in the financial market is to offer tax-efficient income while supporting the development of critical infrastructure and services in Alabama.
Fund Family Franklin Templeton Investments
Category Muni Single State Long
Performance Rating Below Average
Risk Rating Above Average
Stock Exchange NASDAQ
Ticker Symbol FALEX
Share Class Class C
Index Bloomberg Municipal Bond TR
FALEX had a total return of 4.73% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.10%.
