Eaton Vance California Municipal Bond Fund is a fixed income mutual fund designed to provide investors with steady current income that is generally exempt from both federal income tax and California state personal income tax. The fund primarily invests in high-quality municipal bonds issued by state and local governments and agencies within California, allocating at least 80% of its net assets to securities with interest income exempt from federal taxation, and a significant portion from state taxes as well. It draws on a diversified portfolio spanning over 100 individual holdings across various sectors reliant on municipal financing, such as infrastructure, education, and healthcare. With a focus on tax efficiency, the fund distributes income monthly, making it attractive for investors seeking regular, tax-advantaged cash flow. The fund’s management actively seeks to balance competitive yields with capital preservation, considering credit quality and interest rate risk. Its role in the market is to serve individuals and institutions looking to integrate tax-exempt income streams into their portfolios, especially those residing in or paying taxes to California.
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