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.
Will FCITX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FCITX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the FCITX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of FCITX’s parent organization’s priorities and whether they’re in line with investors’ interests.