The investment seeks to provide current income exempt from Federal and California state income tax by investing primarily in California municipal bonds. The fund invests at least 80% of net assets in intermediate-term, high quality municipal bonds and notes, the interest from which is expected to be exempt from federal and California state personal income taxes. It may also invest in short-term tax exempt commercial paper, floating rate notes or shares of money market mutual funds whose objectives are consistent with the fund's objectives. The average duration of its portfolio typically ranges from three to eight years. The fund is non-diversified.
Fund filings (PDF) »

Asset managers:
Kathleen Meyer (Started: Jan 14, 2000)
Gregory Kaplan (Started: Nov 18, 2009)

Advisor Company:
City National Asset Management, Inc.
Fund family reports on Morningstar »

	1 year	3 years	5 years	10 years
Alpha*	-0.33	0.38	0.36	-0.69
Beta*	0.54	0.53	0.56	0.64
Mean annual return	0.20	0.30	0.32	0.26
R-squared*	96.45	89.08	80.63	87.13
Standard deviation	1.55	2.11	2.96	3.09
Sharpe ratio	1.52	1.68	1.21	0.46
* Against standard index

Risk measurement details »

Security	Net Assets
Riverside Cnty Calif Ctfs Part Ref Co 5%	3.12%
California St Go Ref Bd 5%	2.79%
California St Go Bds 5%	2.54%
Southern Calif Pub Pwr Auth 5%	2.41%
California St Go Bds 5%	2.10%
California St Var Purp 5%	2.10%
Orange Cnty Calif Pub Fing Aut Lease 5%	2.07%
Los Angeles Calif Uni Sch Dist 5.25%	2.03%
San Francisco Calif City & Cnt Ref Bd 4%	2.00%
Modesto Calif Irr Dist 5%	1.98%

Holdings Performance »