JPMorgan California Tax Free Bond Fund Class C is an open-end municipal bond fund designed to deliver high after-tax total return for California residents consistent with a moderate risk of capital. The fund primarily invests in investment-grade municipal securities whose interest is exempt from federal and California personal income taxes and not subject to the federal alternative minimum tax for individuals, aiming to preserve income efficiency for state taxpayers. It normally keeps at least 80% of assets in tax-exempt California munis, spanning general obligation and revenue bonds issued by state and local entities and related authorities, with flexibility to include select securities linked to the U.S. government and private issuers. The strategy emphasizes diversified exposure across sectors such as education, healthcare, transportation, and essential services, reflecting the state’s large municipal financing ecosystem. Managed within J.P. Morgan’s municipal platform, the fund targets an intermediate profile aligned with its category benchmark, distributing income monthly to investors. Its role in the market is to provide a dedicated, tax-advantaged fixed income option tailored to California taxpayers seeking municipal bond exposure and consistent tax-exempt income.
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