SEI Tax Exempt Trust California Municipal Bond Fund Class F is a mutual fund that predominantly invests in municipal debt securities issued by California state and local governments. Its primary purpose is to provide investors with a high level of current income that is exempt from both federal and California state income taxes, aligning with strategies for tax-efficient income generation. The fund mainly targets intermediate-term California municipal bonds, emphasizing capital preservation while offering potential for modest long-term growth. It has a portfolio characterized by diversified holdings within the municipal bond sector, with notable allocations to various California state and local government projects, such as education, infrastructure, and utilities. The fund’s assets are actively managed by a team employing a multi-manager approach to foster risk diversification. This financial asset is of particular significance for California residents seeking tax-exempt income and plays a specialized role in municipal finance by supporting state and local development initiatives through its investment focus. The fund’s effective duration and credit quality metrics place it within the intermediate municipal bond category, balancing yield potential against interest rate sensitivity.
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