The investment seeks a high level of current income exempt from regular federal and California income taxes; its secondary objective is preservation of capital. The fund seeks to achieve its objectives by primarily investing in municipal bonds issued by the state of California and its agencies and municipalities within the state. It may also invest in municipal securities that are issued by jurisdictions outside California. The fund normally invests at least 80% of its assets in, or derives at least 80% of its income from, securities that are exempt from both regular federal and California income taxes and that do not subject the investment to federal AMT.
Fund filings (PDF) »
Karl Zeile (Started: Jan 1, 2003)
Neil Langberg (Started: Oct 28, 1986)
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American Funds, 4 Embarcadero Center P.O. Box 7650, San Francisco, CA 94120, USA