Invesco Limited Term California Municipal Fund R6 is an open-end municipal bond fund focused on generating federally tax‑exempt income by investing primarily in investment‑grade California municipal securities with a shorter‑to‑intermediate maturity profile. The strategy emphasizes limited duration to help manage interest‑rate sensitivity while targeting consistent tax‑advantaged income streams for investors subject to California and federal income taxes. The portfolio spans essential public finance sectors, including transportation infrastructure, airports, water and power utilities, education, and health care, reflecting diversified exposure to the state’s revenue and general obligation issuers. Benchmarked to the S&P Municipal California Investment Grade 4–7 Years Bond Index, the fund seeks risk‑aware participation in California’s muni market through disciplined credit research and duration positioning. The R6 share class is designed for institutional and retirement plans and carries a relatively low net expense ratio within its peer group, supporting cost‑efficient access to the single‑state, short‑intermediate municipal category. Investors should note potential risks unique to municipal markets, including credit, interest‑rate, liquidity, and tax status considerations.
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