PGIM California Muni Income Fund Class A is a municipal bond mutual fund focused on generating tax-exempt income for California residents. Its primary objective is to maximize current income that is exempt from both California state and U.S. federal income taxes, while maintaining capital preservation as a guiding constraint. The portfolio invests mainly in debt issued by California state and local entities, including revenue and general obligation bonds, as well as short-term municipal instruments such as notes and commercial paper that qualify for tax-exempt treatment. The fund targets an intermediate interest-rate profile, with a medium credit-quality emphasis and limited interest-rate sensitivity for balanced income and risk characteristics. Class A shares carry a front-end sales charge with a stated maximum applicable to this share class, alongside an expense ratio that positions the fund in the higher-cost tiers relative to category peers. Within California’s municipal market, the fund serves investors seeking diversified exposure to essential-service, education, healthcare, transportation, and infrastructure-related issuers to pursue steady, tax-advantaged cash flows.
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