GCMFX

About GCMFX

PIMCO California Municipal Opportunistic Value Fund Institutional Shares is a mutual fund focused on providing current income that is exempt from both regular federal income tax and California state personal income taxes. Structured as an intermediate-term municipal bond fund, it primarily invests at least 80% of its assets in California municipal debt securities, making it particularly relevant for California residents seeking tax-advantaged income. The fund prioritizes securities with durations between 4 and 6 years, balancing income generation with moderate interest rate sensitivity. Notable features include an institutional share class, a relatively high minimum initial investment, and a diversified portfolio with more than 90% of assets allocated to municipal bonds. The fund's typical portfolio includes debt issued by a range of California entities, such as city and county agencies, airport authorities, universities, and healthcare facilities. Managed by PIMCO, a prominent fixed income asset manager, this fund plays a significant role in the municipal bond market by channeling capital to important public projects across California while serving as a tax-efficient investment option for income-focused investors in the state.