FKNQX Franklin NY Intermediate T/F Income A Forecast, Technical & Fundamental Analysis

The investment seeks a high level of income exempt from federal income taxes and New York State and New York City personal income taxes. Under normal market conditions, the fund invests at least 80% of its total assets in securities whose interest is free from federal income taxes, including the federal alternative minimum tax, and from New York State personal income taxes. Although the fund tries to invest all of its assets in tax-free securities, it is possible that up to 20% of the fund's total assets may be invested in securities that pay interest subject to federal or state income taxes.