About ITCAX
Western Asset Intermediate Maturity California Municipals Fund Class A is an actively managed municipal bond mutual fund focused on generating tax-exempt income for California residents. The fund primarily invests in investment-grade California municipal securities with an intermediate interest-rate profile, typically targeting portfolios with durations of about four to six years to balance income and interest-rate sensitivity. Its mandate emphasizes monthly income that is generally exempt from regular federal and California state personal income taxes, aligning with the needs of tax-sensitive investors in the state. The strategy concentrates on California issuers across essential-service revenue bonds, general obligation debt, and related municipal sectors, reflecting the state’s broad infrastructure and public finance landscape. Managed by Western Asset, the fund’s category positioning is within Muni California Intermediate, where performance and risk are assessed against state-specific municipal benchmarks. Investors should note that expenses have been cited as relatively high versus peers, creating a performance hurdle compared with lower-cost alternatives. Overall, the fund serves a specialized role in providing state-specific, tax-advantaged fixed income exposure within diversified portfolios.
Fund Family Franklin Templeton Investments
Category Muni California Intermediate
Performance Rating Average
Risk Rating Above Average
Stock Exchange NASDAQ
Ticker Symbol ITCAX
Share Class Class A
Index Bloomberg Muni M.F. CA Intermediate TR
ITCAX had a total return of 4.18% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.04%.
