AICAX

About AICAX

AB Intermediate California Municipal Portfolio Class A is an actively managed municipal bond mutual fund focused on generating income that is generally exempt from federal and California state income taxes for residents of California. The portfolio primarily invests in municipal securities issued by the State of California and its local authorities, with a mandate to keep at least 80% of assets in tax-exempt California muni bonds. The strategy targets a short‑ to intermediate‑duration profile to balance income with interest‑rate sensitivity, emphasizing high credit quality, with a substantial majority of holdings rated A or higher. Typical exposures include general obligation and revenue bonds tied to essential services such as transportation infrastructure, local government finance, education, and utilities. Designed to prioritize principal stability and after‑tax total return, the fund aligns with the single‑state municipal category, which seeks state and federal tax advantages for in‑state investors while accepting concentration in one state’s fiscal dynamics. Managed within AllianceBernstein’s fixed‑income platform, it aims to provide consistent, tax‑efficient cash flows through a diversified lineup of California issuers and intermediate maturity positioning.