Nuveen California Quality Municipal Income Fund

Nuveen California Quality Municipal Income Fund is a closed-end fixed income fund that primarily seeks to provide investors with current income exempt from both regular federal income taxes and California personal income tax. Managed by Nuveen Fund Advisors LLC, this fund invests at least 80% of its assets in investment-grade municipal securities or securities judged of comparable quality, with the flexibility to allocate up to 20% of assets to below-investment-grade bonds. The portfolio is designed to target underrated or undervalued municipal bonds, including those from underrepresented sectors of the California municipal market, aiming to enhance overall portfolio value relative to the broader municipal bond market. By leveraging its assets, the fund seeks to deliver a higher income distribution, making it relevant to individuals subject to high California and federal taxes. The fund plays a notable role in providing tax-advantaged income for investors while supporting public projects in California, including infrastructure, education, and healthcare initiatives funded through municipal bonds.