Invesco Limited Term California Municipal Fund Class A is a mutual fund focused on generating tax-exempt income by investing primarily in investment-grade municipal bonds issued within California. Its main objective is to provide shareholders with monthly income that is free from both federal and California state personal income tax, appealing to those seeking potential tax-efficient income solutions. The fund predominantly invests in revenue bonds and general obligation bonds from various California issuers, spanning sectors such as state infrastructure, transportation, utilities, and public services. With a significant portion of assets allocated to issuers like the City of Los Angeles Department of Airports and California Community Choice Financing Authority, the portfolio is broadly diversified across over 400 holdings and maintains a moderate average maturity to limit interest rate sensitivity. This fund is recognized for applying rigorous credit research and active management to uncover relative value within the state's municipal market. It serves a specialized role in the broader market by catering to investors who prioritize stable, tax-advantaged income and who have specific state tax considerations due to their California residency or tax status.
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