PCIMX

About PCIMX

PIMCO California Intermediate Municipal Bond Fund Institutional Class is a fixed income mutual fund focused on tax-exempt municipal securities issued in California. Its primary objective is to deliver high current income that is exempt from both federal and California state income taxes, with capital appreciation as a secondary goal. The portfolio normally invests at least 80% of assets in municipal debt deemed tax-exempt and primarily targets investment-grade bonds, while permitting a limited allocation to high yield securities. Positioned in the muni California intermediate category, it typically maintains an intermediate interest-rate profile, aligning with durations of roughly four to six years common to the segment. Managed by PIMCO, the fund employs active research and credit selection across revenue and general obligation bonds supporting essential public services and infrastructure, such as transportation, utilities, education, and healthcare. It distributes income monthly and has an institutional share class structure designed for larger allocators. Within the California municipal market, the fund serves as a vehicle for investors seeking diversified, actively managed exposure to state-specific tax-advantaged fixed income.