Franklin Templeton Investments added two new actively managed municipal bond exchange traded funds to help meet growing demand for yields.
On Tuesday, Franklin Templeton launched the actively managed Franklin Liberty Intermediate Municipal Opportunities ETF (NYSEArca: FLMI) and the Franklin Liberty Municipal Bond ETF (NYSEArca: FLMB). Both ETFs have a 0.30% net expense ratio.
“Creating a world class ETF business is our central objective, and we are delighted to unveil our new muni ETFs amid a surge in client interest in fixed income ETFs,” Patrick O’Connor, head of global ETFs at Franklin Templeton Investments, said in a note. “Leveraging Franklin Templeton’s world class municipal bond platform with more than $71 billion in assets under management, these actively managed ETFs seek to generate yield exempt from federal taxes, allowing investors to keep more of what they earn.”
Franklin Templeton’s James Conn and Chris Sperry will both be on the management team for both ETFs while Daniel Workman will also work on FLMI and Nicholas Bucklin will also work on FLMB.