Business Description
This California-based closed-end fund, managed by Nuveen Investments, focuses on municipal bonds that are free from both federal and California state income taxes. The fund targets investment-grade securities rated BBB or higher, with an average maturity of around 20 years, selecting holdings through careful individual security analysis. Its performance is measured against the S&P California Municipal Bond Index and the S&P National Municipal Bond Index. The fund has been operating since November 2002.