Nuveen California Municipal Value Fund Inc. is a closed-end fund designed to provide investors with current income that is exempt from both regular federal and California state income taxes. The fund primarily invests in a diversified portfolio of municipal securities issued within California, with at least 80% of its managed assets allocated to investment-grade securities or comparable unrated bonds. A smaller portion of the portfolio can include lower-rated or high-yield municipal securities, offering the flexibility to pursue opportunities across varying credit qualities. Managed by Nuveen Fund Advisors LLC, the fund employs a fundamental, bottom-up approach to security selection, focusing on bonds considered undervalued or underappreciated within the market. Benchmarking against indices like the S&P California Municipal Bond Index and the S&P National Municipal Bond Index, the fund serves investors seeking federally and state tax-advantaged income while supporting public infrastructure and essential services in California. Operating since 1987, it plays a significant role within the municipal bond sector, appealing primarily to residents of California and investors looking for tax-efficient income solutions within the fixed income market.
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