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FMNIX Franklin MN Tax-Free Inc C

  • Fund
  • FMNIX
  • Price as of: Jul 09, 2019
  • $12.57 + $0.01 + 0.08%
  • Category
  • Single State Municipal Bonds

FMNIX - Profile

Vitals

  • YTD Return 3.4%
  • 3 Yr Annualized Return -0.9%
  • 5 Yr Annualized Return -0.1%
  • Net Assets $975 M
  • Holdings in Top 10 20.2%

52 WEEK LOW AND HIGH

$12.57
$11.90
$12.57

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.23%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 13.97%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

N/A

Investment Themes

CATEGORY

Single State Municipal Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Muni Minnesota

Distributions

  • YTD Total Return 3.4%
  • 3 Yr Annualized Total Return -0.9%
  • 5 Yr Annualized Total Return -0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.41%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Franklin Minnesota Tax-Free Income Fund
  • Fund Family Name Franklin Templeton Investments
  • Inception Date May 01, 1995
  • Shares Outstanding N/A
  • Share Class C
  • Currency USD
  • Domiciled Country United States
  • Manager John Pomeroy

FMNIX - Performance

Return Ranking - Trailing

Period FMNIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -3.2% 7.6% 37.61%
1 Yr 2.8% -6.4% 8.5% 35.67%
3 Yr -0.9%* -2.3% 3.6% 46.49%
5 Yr -0.1%* -1.3% 1.7% 71.02%
10 Yr 0.4%* -1.1% 4.2% 68.97%

* Annualized


Return Ranking - Calendar

Period FMNIX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.6% -7.2% 11.0% 67.47%
2017 1.1% -10.1% 6.8% 60.66%
2016 -2.7% -4.9% 0.0% 38.70%
2015 -1.0% -5.6% 1.8% 84.80%
2014 4.7% -34.8% 15.6% 68.78%

Total Return Ranking - Trailing

Period FMNIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -3.2% 7.6% 38.37%
1 Yr 2.8% -6.4% 8.5% 39.36%
3 Yr -0.9%* -2.3% 3.6% 52.87%
5 Yr -0.1%* -1.3% 4.4% 75.33%
10 Yr 0.4%* -1.1% 5.6% 74.37%

* Annualized


Total Return Ranking - Calendar

Period FMNIX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.6% -7.2% 11.0% 69.90%
2017 1.1% -10.1% 6.9% 64.24%
2016 -2.7% -4.9% 1.0% 44.06%
2015 -1.0% -5.6% 4.0% 86.33%
2014 4.7% -34.8% 16.3% 70.39%

NAV & Total Return History

FMNIX - Holdings

Concentration Analysis

FMNIX Category Low Category High FMNIX % Rank
Net Assets 975 M 6.28 M 20.6 B 14.74%
Number of Holdings 197 31 4231 35.96%
Net Assets in Top 10 197 M -4.71 M 2.92 B 12.20%
Weighting of Top 10 20.24% 2.5% 58.7% 51.21%

Top 10 Holdings

  1. ALEXANDRIA MINN INDPT SCH DIST NO 206 3% 3.14%

  2. MINNEAPOLIS & ST PAUL MINN MET ARPTS COMMN ARPT REV 5% 2.42%

  3. ROCHESTER MINN HEALTH CARE FACS REV 5% 2.11%

  4. MINNESOTA PUB FACS AUTH ST REVOLVING FD REV 5% 2.05%

  5. DULUTH MINN ECONOMIC DEV AUTH HEALTH CARE FACS REV 5.25% 1.93%

  6. MINNEAPOLIS & ST PAUL MINN MET ARPTS COMMN ARPT REV 5% 1.90%

  7. MINNESOTA PUB FACS AUTH ST REVOLVING FD REV 5% 1.76%

  8. MINNESOTA ST 4% 1.71%

  9. MINNESOTA ST 4.5% 1.65%

  10. DULUTH MINN ECONOMIC DEV AUTH HEALTH CARE FACS REV 5.25% 1.57%


Asset Allocation

Weighting Return Low Return High FMNIX % Rank
Bonds
100.91% -0.60% 103.72% 5.46%
Stocks
0.00% 0.00% 0.32% 70.78%
Preferred Stocks
0.00% 0.00% 0.00% 69.89%
Other
0.00% -2.39% 8.43% 73.19%
Convertible Bonds
0.00% 0.00% 0.00% 69.89%
Cash
-0.91% -3.73% 93.39% 96.06%

Bond Sector Breakdown

Weighting Return Low Return High FMNIX % Rank
Municipal
100.91% 0.00% 103.73% 6.61%
Derivative
0.00% -0.20% 0.00% 69.89%
Securitized
0.00% 0.00% 0.00% 69.89%
Corporate
0.00% 0.00% 4.72% 72.17%
Government
0.00% -17.97% 1.02% 65.95%
Cash & Equivalents
-0.91% -3.73% 93.39% 96.06%

Bond Geographic Breakdown

Weighting Return Low Return High FMNIX % Rank
US
100.91% -0.60% 102.38% 2.16%
Non US
0.00% 0.00% 22.38% 94.03%

FMNIX - Expenses

Operational Fees

FMNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.23% 0.09% 2.58% 32.15%
Management Fee 0.47% 0.08% 1.30% 55.65%
12b-1 Fee 0.65% 0.00% 1.00% 61.19%
Administrative Fee 0.15% 0.00% 0.33% 73.85%

Sales Fees

FMNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load 1.00% 0.50% 5.00% 71.71%

Trading Fees

FMNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FMNIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 13.97% 3.32% 293.00% 33.85%

FMNIX - Distributions

Dividend Yield Analysis

FMNIX Category Low Category High FMNIX % Rank
Dividend Yield 0.02% 0.00% 2.83% 68.61%

Dividend Distribution Analysis

FMNIX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

FMNIX Category Low Category High FMNIX % Rank
Net Income Ratio 2.41% -0.21% 4.62% 71.92%

Capital Gain Distribution Analysis

FMNIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

FMNIX - Managers

John Pomeroy

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 1989

29.52

29.5%

Mr. Pomeroy is senior vice president of Franklin Advisers, Inc. He provides research and advice on the purchases and sales of individual securities, and portfolio risk assessment. Mr. Pomeroy joined Franklin Templeton Investments in 1986.


James Patrick Conn

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 1999

19.51

19.5%

Mr. Conn is a senior vice president and portfolio manager with Franklin Advisers, Inc, his employer since 1996. He has final authority over all aspects of the Fund's investment portfolio, including but not limited to, purchases and sales of individual securities, portfolio risk assessment, and the management of daily cash balances in accordance with anticipated management requirements. Mr. Conn holds the Chartered Financial Analyst designation.


Nicholas K. Bucklin

Manager

Start Date

Tenure

Tenure Rank

Mar 29, 2019

0.25

0.3%

NICHOLAS BUCKLIN, CFA Portfolio Manager Franklin Separately Managed Accounts San Mateo, California, United States Nicholas Bucklin is a portfolio manager for municipal bonds for Franklin Separately Managed Accounts. His primary responsibilities include researching and selecting securities within established investment policy guidelines, and management of various SMA municipal fixed income state specific portfolios. He also assists with the buying and selling of securities across all municipal SMA strategies and works with research analysts on credit analysis. Mr. Bucklin is a member of the investment committee for the Franklin Intermediate Municipal Fixed Income SMA strategy and participates in weekly account review and strategy meetings for this fixed income mandate. He also supports client servicing and due diligence meetings. Mr. Bucklin joined Franklin Templeton in 2008 as a futures associate, working as a trader with the taxable Money Markets group, the Life Settlements group, and the Fund of Funds group as an analyst. He joined Franklin Templeton Portfolio Advisors as a municipal bond portfolio analyst in 2009. Mr. Bucklin received a B.A. degree in history from Boston College, and is a member of the Municipal Bond Club of San Francisco. Mr. Bucklin is a Chartered Financial Analyst (CFA) Charterholder, a member of the CFA Institute, and a member of the CFA Society of San Francisco.


Tenure Analysis

Category Low

0.75

Category High

28.92

Category Average

11.47

Category Mode

16.51