Description

This fund aims to deliver a significant level of current income, free from both federal and California personal income taxes. Its core strategy involves allocating at least 80% of its portfolio to high-quality municipal securities, whose interest payments are also exempt from federal and California personal income taxation. The fund may, at times, commit over 25% of its total assets to municipal debt instruments that finance similar types of projects. Portfolio assets are strategically diversified across various market sectors and maturity profiles.