DWS California Tax-Free Income Fund - Class S is a municipal bond mutual fund designed to provide investors with a high level of current income that is generally exempt from both California state and regular federal income taxes. Its primary strategy involves investing at least 80% of its assets in debt securities issued by California municipalities and related entities, with the income generated by these holdings typically free from most federal and state tax obligations. The fund appeals predominantly to California residents seeking tax-advantaged income streams. With a diversified portfolio comprising nearly 189 holdings, it aims to balance income generation and stability for investors sensitive to tax liabilities. Notable features include a competitive expense ratio, monthly income distributions, and an investment minimum tailored for individual accounts. Launched in 2001, the fund plays a specialized role in the broader fixed-income market, supporting public sector projects in California while helping individual investors manage their tax exposures through strategically focused municipal debt investment.
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