Nuveen California Quality Municipal Income Fund
NAC
New York Stock Exchange- -
USD
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- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 333 West Wacker Drive Chicago IL France 60606-1220
- IPO Date
- May 26, 1999
- CIK
- 0001074952
- Website
- nuveen.com
- Similar Companies
- Business
- Nuveen California Quality Municipal Income Fund (NAC) is a closed-end fixed income mutual fund that seeks current income exempt from regular federal and California state personal income taxes; its secondary objective is to enhance portfolio value relative to the municipal bond market. The Fund invests primarily in undervalued or underrated tax-exempt municipal securities issued by or on behalf of the State of California and its political subdivisions, including municipal bonds rated investment grade (Baa/BBB or better by Moody's or S&P) or deemed comparable if unrated; it allocates at least 80% of managed assets to such securities, with up to 20% in below-investment-grade issues (limited to 10% below B-/B3). The portfolio employs leverage, uses fundamental bottom-up analysis, and benchmarks performance against the S&P California Municipal Bond Index and S&P National Municipal Bond Index, with an average maturity of approximately 21 years. Launched on December 1, 1998, and formerly known as Nuveen California Dividend Advantage Municipal Fund, NAC is managed by Nuveen Fund Advisors, LLC and Nuveen Asset Management, LLC, with portfolio managers Kristen M. DeJong and Scott R. Romans; it is domiciled in the United States with headquarters at 333 West Wacker Drive, Chicago, Illinois. The Fund trades on the NYSE under ticker NAC and targets high-net-worth California residents and tax-sensitive investors seeking tax-advantaged income from the municipal fixed income sector. NAC operates exclusively within U.S. municipal markets focused on California issuers, with no international geographic exposure. In the parent organization context, Nuveen, a subsidiary of TIAA with over $1.3 trillion in assets under management, has pursued strategic expansions including a September 2025 partnership with Hunter Point Capital and Temasek to enhance private capital strategies in infrastructure, clean energy, and AI sectors; a July 2025 raise of $785 million in committed capital for its C-PACE lending platform via Nuveen Green Capital; and a June 2025 acquisition of Brooklyn Investment Group to bolster multi-asset direct indexing and wealth channel capabilities. These initiatives reflect Nuveen's broader push into alternatives and sustainable financing, though NAC remains focused on its core California municipal bond mandate with recent SEC filings including an August 2025 prospectus supplement and ongoing monthly portfolio reports. No fund-specific acquisitions, name changes, or major operational shifts for NAC have been reported in the last 1-2 years.