JPMorgan California Tax Free Bond Fund Class A is an actively managed municipal bond mutual fund focused on delivering high after-tax total return for California residents consistent with moderate capital risk. The fund primarily invests in investment-grade municipal securities whose interest is exempt from federal and California state personal income taxes and is structured to avoid exposure to the federal alternative minimum tax for individuals. It typically maintains broad diversification across California municipal issuers, including state and local governments, agencies, and essential-service revenue bonds, with an intermediate interest-rate profile aligned to its category. Managed within J.P. Morgan’s fixed income platform, the strategy emphasizes credit research, sector allocation, and duration management to balance income generation and principal stability. The fund distributes income monthly, reflecting its role as a tax-efficient income vehicle for taxable investors in California seeking municipal market exposure. Its longstanding track record and experienced management team underpin its standing in the single-state muni universe, offering targeted state tax benefits alongside diversified municipal credit exposure.
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