About GCMFX
PIMCO California Municipal Opportunistic Value Fund Institutional Shares is a mutual fund focused on providing current income that is exempt from both regular federal income tax and California state personal income taxes. Structured as an intermediate-term municipal bond fund, it primarily invests at least 80% of its assets in California municipal debt securities, making it particularly relevant for California residents seeking tax-advantaged income. The fund prioritizes securities with durations between 4 and 6 years, balancing income generation with moderate interest rate sensitivity. Notable features include an institutional share class, a relatively high minimum initial investment, and a diversified portfolio with more than 90% of assets allocated to municipal bonds. The fund's typical portfolio includes debt issued by a range of California entities, such as city and county agencies, airport authorities, universities, and healthcare facilities. Managed by PIMCO, a prominent fixed income asset manager, this fund plays a significant role in the municipal bond market by channeling capital to important public projects across California while serving as a tax-efficient investment option for income-focused investors in the state.
Fund Family PIMCO
Category Muni California Intermediate
Performance Rating Above Average
Risk Rating Below Average
Stock Exchange NASDAQ
Ticker Symbol GCMFX
Share Class Institutional Class
Index Bloomberg California TaxExempt Muni Bd TR
GCMFX had a total return of 3.10% in the past year, including dividends. Since the fund's
inception, the average annual return has been 1.83%.
