Nuveen California Intermediate Municipal Bond Fund

Data updated: 2020-10-29

C000174073 — Nuveen California Intermediate Municipal Bond Fund. Money Market · $11.92M AUM. Holdings, fees, performance and SEC filings.

C000174073 Fund Overview

Nuveen California Intermediate Municipal Bond Fund is a US mutual fund managed by Nuveen Multistate Trust II /ma/, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

Type: US mutual fund
Manager: Nuveen Multistate Trust II /ma/
Category: Money Market
Assets under management: $11.92M
1-year return: 0.9%
SEC CIK: 0001018975
SEC series ID: S000055308
Share class ID: C000174073

C000174073 Investment Objective and Strategy

Nuveen California Intermediate Municipal Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Nuveen Multistate Trust II /ma/.

Investment objective

The investment objective of the Fund is to provide you with as high a level of current interest income exempt from regular federal income tax and California state personal income tax, as is consistent with preservation of capital.

Principal investment strategy

Under normal market conditions, the Fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in municipal bonds that pay interest that is exempt from regular federal income tax and California state personal income tax. These municipal bonds include obligations issued by the State of California and its subdivisions, authorities, instrumentalities and corporations, as well as obligations issued by U.S. territories (such as Puerto Rico, the U.S. Virgin Islands and Guam) that pay interest that is exempt from regular federal and California personal income tax. The Fund may invest without limit in securities that generate income subject to the alternative minimum tax. The Fund will generally maintain the weighted average maturity of its portfolio securities at three to ten years under normal market conditions.

Under normal circumstances, the Fund invests at least 80% of its net assets in investment grade municipal bonds rated BBB/Baa or higher at the time of purchase by at least one independent rating agency, or, if unrated, judged by the Funds sub-adviser to be of comparable quality. The Fund may invest up to 20% of its net assets in below investment grade municipal bonds, commonly referred to as high yield or junk bonds. The Fund may invest in all types of municipal bonds, including general obligation bonds, revenue bonds and participation interests in municipal leases. The Fund may invest in zero coupon bonds, which are issued at substantial discounts from their value at maturity and pay no cash income to their holders until they mature. The Fund may invest up to 15% of its net assets in municipal securities whose interest payments vary inversely with changes in short-term tax-exempt interest rates (inverse floaters).

Inverse floaters are derivative securities that provide leveraged exposure to underlying municipal bonds. The Funds investments in inverse floaters are designed to increase the Funds income and returns through this leveraged exposure. These investments are speculative, however, and also create the possibility that income and returns will be diminished. Under normal market conditions, the Fund may invest up to 20% of its net assets in short-term investments, such as short-term, high quality municipal bonds or tax-exempt money market funds. The Fund may utilize the following derivatives: futures contracts, swap contracts, options on futures contracts and options on swap contracts. The Fund may use these derivatives in an attempt to manage market risk, credit risk and yield curve risk, and to manage the effective maturity or duration of securities in the Funds portfolio.

The Funds sub-adviser uses a value-oriented strategy and looks for higher-yielding and undervalued municipal bonds that offer above-average total return. The sub-adviser may choose to sell municipal bonds with deteriorating credit or limited upside potential compared to other available bonds.

C000174073 Performance

Total returns for C000174073 (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	0.9%

C000174073 Risk Information

Risk metrics for C000174073, derived from monthly returns in SEC filings.

1-year volatility (annualised): 6.5%

C000174073 Costs and Fees

C000174073 costs about $156 per $10,000 invested per year in fund expenses.

Net expense ratio: 1.56%
Gross expense ratio: 2.07%
Portfolio turnover: 2%
Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

C000174073 Cashflows

Over the 12 months to 2020-08, Nuveen California Intermediate Municipal Bond Fund had net outflows of $3.14M, from monthly SEC N-PORT filings.

Month	Net flow
2020-08	−$345.36K
2020-07	$107.63K
2020-06	$6.87K
2020-05	−$1.17M
2020-04	−$7.41M
2020-03	$1.55M

C000174073 Debt Constituents

No individual debt constituents are reported in Nuveen California Intermediate Municipal Bond Fund's latest SEC N-PORT filing.

C000174073 Prospectus and SEC Filings

Official Nuveen California Intermediate Municipal Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Money Market funds tracked on ABC INVEST:

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.