FMZJBX

About FMZJBX

First Trust California Municipal Income Fund is a unit investment trust designed to provide investors with income that is exempt from federal income taxes by investing primarily in municipal bonds issued within California. Its primary function is to assemble a diversified portfolio of high-quality, tax-exempt municipal securities, often appealing to investors who seek stable, tax-advantaged income. The fund generally focuses on bonds issued by California state entities, local governments, and their agencies, which support infrastructure and community development projects such as schools, transportation, and public utilities. By emphasizing California-based issuers, it may offer additional tax benefits to residents of the state, as municipal bond interest is typically exempt from both federal and state income taxes for in-state investors. This fund plays a notable role in the financial market by facilitating access to tax-efficient income streams and by supporting local government financing for public initiatives. As with similar municipal bond funds, it carries some interest rate and credit risk but serves as a vehicle for those seeking diversification and stable cash flow within the fixed-income segment.