CAILX

About CAILX

Lord Abbett California Tax Free Fund Class I is a municipal bond mutual fund designed to provide investors with a high level of tax-exempt income, primarily targeting residents of California. The fund’s core objective is to maximize interest income that is exempt from both federal and California state personal income taxes, while maintaining a focus on managing credit and interest rate risk according to reasonable standards. The portfolio invests predominantly in a diversified selection of California municipal bonds, spanning sectors such as transportation, healthcare, education, power, housing, and utilities, among others. With an average effective maturity exceeding 20 years and an average duration around 8 years, the fund is positioned in the muni California long category, making it especially suitable for investors seeking long-term, state tax-advantaged income. Active management allows the fund to adapt to evolving market and credit conditions and to pursue opportunities tailored to California’s unique municipal landscape. The fund’s Class I shares are typically intended for institutional investors, featuring a $1,000,000 minimum investment and a competitive expense ratio, and distributing income monthly.