SRCMX

About SRCMX

Principal California Municipal Fund Class A is an open‑end municipal bond fund focused on generating a high level of current income that is exempt from federal income tax and California state personal income tax, consistent with prudent risk management. The portfolio invests primarily in California municipal securities across general obligation and revenue bonds, targeting the intermediate segment with typical durations of roughly four to six years common to its category. Managed by the Principal Fixed Income team, the strategy employs active security selection and sector allocation to source income while managing interest‑rate, credit, and liquidity risks inherent to municipal markets. The fund’s holdings span essential public finance issuers such as state infrastructure, housing finance agencies, education facilities, and regional authorities, reflecting the financing needs of California’s public services and projects. Within the Muni California Intermediate peer group, it is designed for investors seeking state‑specific tax‑advantaged income and diversification benefits relative to taxable fixed income, with performance evaluated against a California municipal bond benchmark and category peers.