Franklin NJ Tax-Free Income A LW  FRNJX.LW
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2009-10-31
Out of
Muni New Jersey Funds
Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance.
Morningstar®
Style Box™
What is this?
   Avg Duration
   ---
   Avg Credit Quality
   AA
As of 2009-09-30
Day Change
$ 0.00
  
NAV (2009-11-20)
$ 11.90
  
YTD Return % (2009-11-20)
14.20%
  
Total Assets ($ mil)
1,526
View Data Definitions
  Performance    
Growth of $10,000 Fund: Franklin NJ Tax-Free Income A LW
(from 1999-01-01 to 2009-10-31) Category: Muni New Jersey
Index: Barcap Municipal!
Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-20
Inception date: 1988-05-12 10yr and Inception Returns as of 2009-10-31
YTD Returns as of 2009-11-20
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Fund 14.20 12.19 3.51 4.10 5.43 6.28
+/- Category -2.17 -1.97 1.03 0.82 0.71 ---
+/- Barcap Municipal! --- --- --- --- --- ---
Standardized Annual Returns %   more on standardized returns
Quarter-End (as of 2009-09-30) 16.54 14.31 4.59 4.61 5.48 6.40
Month-End (as of 2009-10-31) 14.58 14.49 3.79 4.08 5.43 6.28
After Tax Returns % (as of 2009-09-30 )  
On Distribution --- 14.50 3.79 4.08 5.43 ---
On Distribution & Sale of Shares --- 11.06 3.86 4.12 5.35 ---
Morningstar Rating --- --- ---
# of compared funds covered (3 yrs : out of 64 funds), (5 yrs : out of 56 funds), (10 yrs : out of 48 funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is 2.00%.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.
  Portfolio Profile    
Sector Breakdown %
General Obligations 8.35
Advance Refunded 3.05
State Appropriated Tobacco ---
Non-state Appropriated Tobacco 1.49
Education 22.39
Health 16.73
Housing 0.97
Industrial 3.23
Transportation 9.53
Utilities 9.41
Water/Sewer 0.62
Misc. Revenue 24.23
Bond Quality % of Bonds
AAA 41.9
AA 18.0
A 28.6
BBB 10.2
BB 0.5
B 0.4
Below B 0.0
Not Rated 0.4
 
Asset Allocation
% of Net Assets
Cash 0.2
Stocks 0.0
Bonds 99.9
Other 0.0
Foreign Stocks 0.0
(as a % of Assets)
Data through 2009-09-30 Data through 2009-09-30
 
Holding Status
Total Number of Stock Holdings Turnover % 11
Total Number of Bond Holdings 221 30 Day SEC Yield % 3.46
% of Assets in Top 10 Holdings 18.48 ending as of 2009-09-30
View Data Definitions
Top 10 Holdings Maturity
Date		 Amount
$000		 Value
$000		 % of Net
Assets
Puerto Rico Elec Pwr Auth 5% 2035-07-01 30,000 35,301 2.30
Puerto Rico Sales Tax Fing Cor Rev Bd 6% 2042-08-01 32,000 35,188 2.29
Rutgers St Univ N J Go Bds 5% 2039-05-01 27,520 29,713 1.93
New Jersey St Transn Tr Fd Aut Trans 6% 2038-12-15 25,000 28,876 1.88
Newark N J Hsg Auth 5% 2034-01-01 25,000 28,591 1.86
Univ Medicine & Dentistr Bds 5% 2031-12-01 29,395 28,475 1.85
New Jersey Health Care Facs Fi Rev Bd 5% 2046-07-01 27,200 27,107 1.77
PORT AUTH N Y & N J CONS BDS 2032-04-15 23,950 24,937 1.62
New Jersey St Tpk Auth 5.25% 2040-01-01 21,920 23,510 1.53
Puerto Rico Elec Pwr Auth 5% 2032-07-01 22,000 22,294 1.45
Data through 2009-09-30
  Other Information
Fund Inception: 1988-05-12
Portfolio Manager  (Start Date)
Stella S. Wong  (1988-05-12)
Wong joined Franklin Advisers in 1986. She currently manages several Franklin state tax-free funds, supervises Franklin's municipal trading desk, and acts as liaison between the municipal bond department and other areas of Franklin. Wong is a member of the California Society of Municipal Analysts and the San Francisco Municipal Bond Club.
Carrie Higgins  (1992-12-30)
Higgins has been an analyst or portfolio manager of the fund since 2004. She joined Franklin Templeton Investments in 1990. Higgins is a member of the National Federation of Municipal Analysts, California Society of Municipal Analysts and the San Francisco Municipal Bond Club.
Sales Charge %
(taken from prospectus dated 2009-08-31)
Front: None
Deferred: None
Expense Ratio % 0.64
based on net assets
(taken from annual report dated 2008-02-29)
Correspondence Information
One Franklin Parkway

San Mateo,  CA  94403-1906
United States
Telephone:
800-632-2301
650-312-2000
Data on this page does not include the fund's short positions (if any).
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.