The investment seeks a high level of current interest income exempt from regular federal, California State and, in some cases, California local income taxes as is consistent with preservation of capital. The fund invests at least 80% of its net assets in municipal bonds that pay interest that is exempt from regular federal and California personal income tax. It may invest without limit in securities that generate income subject to the alternative minimum tax. The fund is a long-term bond fund and, as such, will generally maintain, under normal market conditions, an investment portfolio with an overall weighted average maturity of greater than 10 years.
Fund filings (PDF) »

Asset manager:
Scott Romans (Started: Jan 31, 2003)

Advisor Company:
Nuveen Fund Advisors, LLC.
Fund family reports on Morningstar »

	1 year	3 years	5 years	10 years
Alpha*	2.70	0.79	-0.86	-0.51
Beta*	1.06	1.21	1.30	1.23
Mean annual return	0.68	0.68	0.57	0.44
R-squared*	96.51	93.46	80.97	86.65
Standard deviation	3.07	4.72	6.84	5.99
Sharpe ratio	2.61	1.71	0.96	0.59
* Against standard index

Risk measurement details »

Security	Net Assets
Golden St Tob Securitization C To 5.125%	2.07%
California St Pub Wks Brd Leas Rev Bd 5%	1.82%
California St Various P 5.5%	1.64%
Tahoe Forest Calif Hosp Dist 5.5%	1.37%
California Statewide Cmntys De Rev 5.75%	1.33%
Vista Calif Cmnty Dev Commn Ta Ta 6.125%	1.30%
Vista Calif Cmnty Dev Commn Ta Tax Al 6%	1.25%
California Pollution Ctl Fing Wtr Fur 5%	1.23%
San Francisco Calif City & Cnt Rev Bd 5%	1.14%
Merced Calif Irr Dist	1.05%

Holdings Performance »