Franklin OR Tax-Free Income AFRORX

You can count on Franklin Oregon Tax-Free Income.

It's hard to overstate the merits of this fund's unexciting profile after a year like 2008, when things went terribly awry for most of its more adventurous rivals. Several long-term muni funds, including one of a handful of Oregon funds, suffered painful double-digit drops because of their use of leveraged inverse-floater securities or their efforts to hedge the risks of long-term bonds by shorting Treasury futures or using interest-rate swaps, tactics that exacerbated last year's pain.  Read more 

This fund follows Franklin's basic buy-and-hold strategy. It steers clear of interest-rate bets and focuses on income rather than total return. Manager Chris Sperry looks to add value through issue selection and sector allocation.  Read more 

Chris Sperry took the lead at this fund in February 2000. He has been a member of the management team, which still includes former manager John Wiley, since 1996. He is backed by Franklin's extensive research capabilities.  Read more 

In this fund, Oregon residents are getting a typical Franklin single-state municipal-bond offering. That means low turnover, a good stream of tax-free income, and moderate volatility.  Read more