DCAYX

About DCAYX

The BNY Mellon California AMT-Free Municipal Bond Fund, Inc. is a mutual fund specializing in long-duration municipal debt issued within California. Its primary function is to generate a high level of current income that is exempt from both federal and California state personal income taxes, appealing in particular to California residents seeking tax-advantaged income. The fund predominantly invests in a diversified portfolio of municipal bonds, with typically more than 80% of assets allocated to California municipal debt instruments, and maintains over 180 individual holdings to manage sector and issuer risk. The portfolio focuses on high-credit quality bonds and is structured for preservation of capital while providing monthly income distributions. This fund plays a significant role in the municipal bond market by helping support infrastructure, educational, and community development projects throughout California, and it caters to institutional and high-net-worth investors due to its high minimum investment requirement. Its returns and risk profile are generally aligned with the broader California municipal bond market, and its tax advantages make it especially relevant for those seeking to optimize after-tax income within the state.