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Franklin Federal Interm-Term T/F Inc A1 FKITX

Morningstar Analyst Rating
Analyst rating as of
NAV / 1-Day Return
12.29  /  0.08 %
Total Assets
3.9 Bil
Adj. Expense Ratio
0.560%
Expense Ratio
0.560%
Fee Level
Low
Longest Manager Tenure
21.74 years
Category
Muni National Interm
Credit Quality / Interest Rate Sensitivity
Medium / Moderate
Min. Initial Investment
1,000
Status
Limited
TTM Yield
2.15%
Effective Duration
5.18 years

USD | NAV as of Sep 24, 2021 | 1-Day Return as of Sep 24, 2021, 9:52 PM GMT+00:00

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Morningstar’s Analysis

Will FKITX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

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The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FKITX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

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The People Pillar is our evaluation of the FKITX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

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The Parent Pillar is our rating of FKITX’s parent organization’s priorities and whether they’re in line with investors’ interests.

The new head of Franklin’s municipal platform has made multiple changes.

Analyst

Summary

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The reorganization of personnel supporting Franklin Federal Intermediate Tax Free Income has the potential to benefit the strategy over the long term, but more time is needed to assess whether these adjustments plus process changes create material improvements. Most share classes for this strategy retain a Morningstar Analyst Rating of Neutral, while the most expensive C share class is rated Negative.

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