Franklin California High Yield Municipal Fund Class A1
FCAMX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- One Franklin Parkway San Mateo CA United States of America 94403-1906
- IPO Date
- Apr 30, 1993
- CIK
- 0000881309
- Website
- franklintempleton.com
- Similar Companies
- Business
- Franklin California High Yield Municipal Fund Class A1 (FCAMX) is a mutual fund that seeks a high level of current income exempt from regular federal and California personal income taxes, with capital appreciation as a secondary objective; it invests at least 80% of its net assets in municipal securities whose interest is free from such taxes, including high-yield, lower-rated debt instruments across any maturity or duration, insured municipal securities, and up to 35% in obligations issued by U.S. territories. The fund offers multiple share classes, including Class A1 (FCAMX) with a 3.75% maximum front-end sales load and annual operating expenses of 0.65%, alongside Class A (FCQAX), Class C (FCAHX), Class R6 (FCAQX), and Advisor Class (FVCAX); its portfolio may include up to 100% in securities subject to the federal alternative minimum tax and emphasizes a balance of risk and return through credit analysis, duration management, and opportunistic trading. Managed by Franklin Advisers, Inc., a subsidiary of Franklin Resources, Inc. (operating as Franklin Templeton), with a portfolio team led by John Wiley since 1993, the fund targets individual and institutional investors seeking tax-efficient income, primarily California residents, and operates nationwide with a focus on U.S. municipal bonds financing projects such as utilities, hospitals, higher education, and transportation. The fund, part of Franklin Municipal Securities Trust, traces its inception to April 30, 1993, and is based in San Mateo, California. In recent developments, Franklin Templeton completed the acquisition of Apera Asset Management in October 2025, expanding its global alternatives platform with over €5 billion in assets under management and boosting total alternative credit assets to more than $90 billion as of September 30, 2025; this followed a definitive agreement announced in June 2025 to acquire a majority interest in the pan-European private credit firm. The firm's summary prospectus was updated as of July 1, 2025, reflecting ongoing portfolio management with a fiscal year turnover rate of 10.33% and year-to-date performance through March 31, 2025, of -0.54% for Class A shares; additionally, Franklin Templeton announced quarterly dividends and enhancements to its stock repurchase program on December 17, 2025, underscoring operational stability amid broader strategic growth in alternatives.