NYLI MacKay California Muni Intermediate ETF

The New York Life Investment Management California Municipal Income Fund is a closed-end fund focusing on delivering income to its investors through tax-exempt municipal bonds. Its primary function is to provide high current income that is exempt from federal and California income taxes, making it particularly appealing to California-based investors seeking tax-efficient investment solutions. This fund targets a diversified portfolio of municipal bonds with varying maturities issued by local governments and agencies within California, supporting sectors such as education, infrastructure, and public safety. By investing in this fund, investors help finance public projects essential to community development and improvement. The fund's significance in the financial market lies in its ability to offer tax advantages, diversification, and relatively stable income streams, especially for those residing in California who may benefit from the dual tax-exempt status. By focusing on investment-grade bonds, the fund seeks to manage risk while delivering steady income, representing an essential component of fixed-income portfolios for risk-averse investors.