Putnam California Tax Exempt Income Fund
Data updated: 2025-12-12
C000202778 — Putnam California Tax Exempt Income Fund. Long Municipal - National Bond · $636.51M AUM. Holdings, fees, performance and SEC filings.
C000202778 Fund Overview
Putnam California Tax Exempt Income Fund is a US mutual fund managed by Putnam California Tax Exempt Income Fund, categorised as Long Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Putnam California Tax Exempt Income Fund
- Category: Long Municipal - National Bond
- Assets under management: $636.51M
- 1-year return: -0.3%
- SEC CIK: 0000711402
- SEC series ID: S000005498
- Share class ID: C000202778
C000202778 Investment Objective and Strategy
Putnam California Tax Exempt Income Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Putnam California Tax Exempt Income Fund.
Investment objective
Putnam California Tax Exempt Income Fund seeks as high a level of current income exempt from federal income tax and California personal income tax as we believe to be consistent with preservation of capital.
Principal investment strategy
We invest mainly in bonds that pay interest that is exempt from federal income tax and California personal income tax (but that may be subject to federal alternative minimum tax (AMT)), are investment-grade in quality, and have intermediate- to long-term maturities (i.e., three years or longer). Under normal circumstances, we invest so that at least 90% of the fund’s income distributions are exempt from federal income tax and California personal income tax, except during times of adverse market conditions, when more than 10% of the fund’s income distributions could be subject to these taxes. Such tax-exempt investments in which the fund will invest are issued by or for states, territories or possessions of the United States or by their political subdivisions, agencies, authorities or other government entities, and the income from these investments is exempt from both federal and California personal income tax.
This investment policy cannot be changed without the approval of the fund’s shareholders. We may consider, among other factors, credit, interest rate and prepayment risks, as well as general market conditions, when deciding whether to buy or sell investments.
C000202778 Holdings
Top 10 holdings of Putnam California Tax Exempt Income Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| California State Public Works Board | 1.90% |
| City of Los Angeles | 1.58% |
| California Pollution Control Financing Authority | 1.57% |
| FHLMC Multifamily ML Certificates | 1.50% |
| City of Los Angeles | 1.44% |
| Tobacco Securitization Authority of Southern California | 1.39% |
| New Hampshire Business Finance Authority | 1.35% |
| California Community Choice Financing Authority | 1.32% |
| Chabot-Las Positas Community College District | 1.17% |
| San Diego Housing Authority, Inc. | 1.16% |
C000202778 Portfolio Allocation
Asset-class allocation of Putnam California Tax Exempt Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 99.6% |
| Securitized | 1.6% |
| Other | 0.6% |
| Cash & Equivalents | 0.2% |
C000202778 Performance
Total returns for C000202778 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -0.3% |
| 3 years (annualised) | 5.4% |
| 5 years (annualised) | 1.0% |
C000202778 Risk Information
Risk metrics for C000202778, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 5.4%
C000202778 Costs and Fees
C000202778 costs about $63 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.63%
- Gross expense ratio: 0.63%
- Portfolio turnover: 30%
- Brokerage commissions: 0.07 bps of average net assets (SEC N-CEN)
C000202778 Cashflows
Over the 12 months to 2025-09, Putnam California Tax Exempt Income Fund had net outflows of $93.63M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2025-09 | −$15.04M |
| 2025-08 | −$20.82M |
| 2025-07 | −$13.85M |
| 2025-06 | −$2.79M |
| 2025-05 | −$2.80M |
| 2025-04 | −$3.09M |
C000202778 Debt Constituents
Largest debt holdings of Putnam California Tax Exempt Income Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| California State Public Works Board | 1.90% |
| City of Los Angeles | 1.58% |
| California Pollution Control Financing Authority | 1.57% |
| City of Los Angeles | 1.44% |
| Tobacco Securitization Authority of Southern California | 1.39% |
| New Hampshire Business Finance Authority | 1.35% |
| California Community Choice Financing Authority | 1.32% |
| Chabot-Las Positas Community College District | 1.17% |
| San Diego Housing Authority, Inc. | 1.16% |
| California Municipal Finance Authority | 1.16% |
C000202778 Prospectus and SEC Filings
Official Putnam California Tax Exempt Income Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-01-28
- Prospectus (485BPOS) — filed 2024-01-26
- Prospectus (485BPOS) — filed 2023-01-27
- Portfolio holdings (N-PORT) — filed 2025-11-24
- Portfolio holdings (N-PORT) — filed 2025-08-26
- Portfolio holdings (N-PORT) — filed 2025-05-29
- Annual census (N-CEN) — filed 2025-12-12
- Annual census (N-CEN) — filed 2023-12-08
Related Funds
Other Long Municipal - National Bond 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.