The Franklin California Tax-Free Income Fund Class A1 (FKTFX) is a mutual fund that primarily invests in tax-exempt municipal bonds issued by the state of California. This fund aims to provide investors with a steady stream of tax-free income while also preserving the capital invested. It is suitable for investors seeking a low-risk investment option with potential tax benefits. The fund is managed by Franklin Templeton Investments and has a long track record of providing consistent returns to its shareholders.