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California State Preference

The California State Preference Mandate is a customization of our tax-efficient strategies.

With 58 counties, 480 municipal governments, over 1,000 school districts, and 3,400 “special” districts, California is the nation’s largest and most diverse issuer of municipal debt. These characteristics, combined with the state’s high income tax rate, make California in-state exposure highly desirable. The California State Preference Mandate is an investment grade municipal bond portfolio that seeks to preserve capital and maximize after-tax income. The strategy employs active management, bottom-up research and proactive portfolio positioning.

Investment Objective

Preserve capital and maximize after-tax income

Eligible Investments

Tax-Exempt Municipal Bonds

Treasury Bonds

Government-Related Bonds

Corporate Bonds

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Data provided is as of 9/30/19.