The fund's primary investment objective is current income exempt from both regular federal income tax and California personal income taxes; its secondary investment objective is the enhancement of portfolio value.
The fund invests substantially all of its assets in a diversified portfolio of tax-exempt California Municipal Obligations which are either insured as to the timely payment of principal and interest or backed by an escrow or trust account containing sufficient U.S. Government and U.S. Government agency securities to ensure the timely payment of principal and interest.* The fund uses leverage.
Seeks to provide
- Attractive monthly tax-free income
- Portfolio diversification
- Attractive after tax total returns
Income may be subject to state and local income taxes and the alternative minimum tax. Capital gains, if any, will be subject to capital gains tax.
Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Past performance is no guarantee of future results.
Fund data is updated daily, monthly, and quarterly, depending on the specific data point.
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for the update schedule.
