Franklin Templeton Distributors said today that it will rename its Puerto Rico Tax-Free Income Fund to reflect the product’s tax advantages and to promote its ability to invest in securities outside of that U.S. territory.

Previously, the fund focused on municipal securities issued in Puerto Rico. Now, the firm says the fund is capable of investing in such securities from other U.S. territories. The product will now be known as the Franklin Double Tax-Free Income Fund.

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