The investment seeks a high level of interest income that is exempt from both federal and state income tax. The fund normally invests 80% of assets in California, U.S. commonwealths, possessions or territories municipal securities that are insured as to the timely payment of principal and interest by independent insurance companies that are rated as investment grade by at least one NRSRO, or are determined by the adviser to be of investment grade quality. It generally invests in long-term bonds with maturities of fifteen years or more and may also invest in derivative securities.
0.01 (0.08%) 