Tax advantages for California investors
Investing primarily in high-quality California municipal bonds, the fund aims to deliver attractive tax-free income at the federal and California state level, with capital appreciation as a secondary goal.
Why Invest In This Fund
Potential for attractive tax-efficient income
The fund pursues tax-efficient income for investors in higher tax brackets, generating interest that is typically exempt from federal and California state income taxes. The fund’s average portfolio duration normally varies within -2 to +4 years of the portfolio duration of the securities comprising the Bloomberg Barclays California Municipal Bond Index.
Targeting opportunities in a transformed municipal market
PIMCO is uniquely qualified to respond to recent changes in the municipal bond market, with an extensive network of credit research capabilities to address concerns about creditworthiness, which is critical to municipal bond investing. Additionally, PIMCO has the market presence to provide access to the new issue and secondary markets.
PIMCO has been managing municipal bonds since 1997. Today we are among the largest investors in the market, with an expert municipal bond team constantly analyzing macro-economic, technical, and fundamental trends within the marketplace.
The fund is managed by David Hammer, an executive vice president and head of municipal bond portfolio management at PIMCO. He is supported by PIMCO’s dedicated municipal bond portfolio team, robust credit resources and significant market presence.
Bloomberg Barclays California Municipal Bond Index
PRIMARY BENCHMARK DESCRIPTION
The Bloomberg Barclays California Municipal Bond Index is the California component of the Bloomberg Barclays Municipal Bond Index, which consists of a broad selection of investment-grade general obligation and revenue bonds of maturities ranging from one year to 30 years. It is an unmanaged index representative of the tax-exempt bond market. The index is made up of all investment-grade municipal bonds issued after 12/31/90 having a remaining maturity of at least one year. It is not possible to invest directly in an unmanaged index.
Monthly with Daily Accrual
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