PCTEX

About PCTEX

Putnam California Tax Exempt Income Fund Class A is a mutual fund that primarily invests in long-term California municipal bonds. Its main objective is to provide investors—particularly California residents—with a source of high current income that is exempt from both federal and California state personal income taxes. The fund focuses on municipal debt securities issued by public entities within California, spanning sectors such as infrastructure, education, utilities, and healthcare, all critical to the state's public works and development initiatives. With an effective duration of approximately 9.56 years, the fund is positioned in the "Muni California Long" category, offering exposure to bonds with longer maturities. Notable for its diversified bond portfolio—holding over 350 individual securities, including issuers like university systems, local utilities, and municipal agencies—it aims for stability and capital preservation. This fund plays a key role in the market by serving investors seeking tax-advantaged income solutions, especially those aiming to manage tax liabilities while supporting California’s municipal growth and infrastructure.