JOINT FILING AGREEMENT

Exhibit 99.1

JOINT FILING AGREEMENT

In accordance with Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, each of the undersigned does hereby consent and agree to the joint filing on behalf of each of them of a Statement on Schedule 13D and all amendments thereto with respect to the Auction Rate Preferred Shares of Franklin Limited Duration Income Trust beneficially owned by each of them, and to the inclusion of this Joint Filing Agreement as an exhibit thereto.

Dated:  August 19, 2016

	RiverNorth Capital Management, LLC
	By:	/s/▇▇▇▇▇▇ ▇▇▇▇▇▇▇
		Name:   ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
		Title:   General Counsel and Chief Compliance Officer

	RiverNorth Capital Partners, L.P. By:  RiverNorth Capital Management, LLC, General Partner
	By:	/s/▇▇▇▇▇▇ ▇▇▇▇▇▇▇
		Name:   ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
		Title:   General Counsel and Chief Compliance Officer

	RiverNorth Institutional Partners, L.P. By:  RiverNorth Capital Management, LLC, General Partner
	By:	/s/▇▇▇▇▇▇ ▇▇▇▇▇▇▇
		Name:   ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
		Title:   General Counsel and Chief Compliance Officer