Nuveen California Municipal Value Fund
NCA
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- James Norman Nelson
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 333 West Wacker Drive Chicago IL United States of America 60606-1220
- IPO Date
- Oct 7, 1987
- CIK
- 0000818851
- Website
- nuveen.com
- Similar Companies
- Business
- Nuveen California Municipal Value Fund (NYSE: NCA) is a closed-end management investment company that provides current income exempt from both regular federal income taxes and California personal income taxes, with a secondary objective of enhancing portfolio value relative to the California municipal bond market. The Fund invests primarily in a diversified portfolio of municipal securities issued by or on behalf of the State of California and its political subdivisions that pay interest exempt from regular federal and California state income taxes; at least 80% of its managed assets are invested in investment-grade securities (rated Baa/BBB or better, or unrated but judged comparable by the investment manager), with up to 20% permitted in below-investment-grade municipal securities (of which up to 10% may be rated below B-/B3 or comparable), including inverse floating rate municipal securities known as tender option bonds that may create up to 10% effective leverage. It employs a fundamental, bottom-up investment approach to select tax-exempt California municipal securities believed to be underrated, undervalued, or representing undervalued municipal market sectors, benchmarking performance against the S&P California Municipal Bond Index and S&P National Municipal Bond Index, and serves individual and institutional investors seeking tax-advantaged income from California's municipal market with shares trading on the New York Stock Exchange. The Fund, formed on October 7, 1987 as a Minnesota corporation and headquartered at 333 West Wacker Drive, Chicago, Illinois, successfully completed a reorganization in 2021 whereby it acquired substantially all assets and liabilities of Nuveen California Municipal Value Fund 2 (NYSE: NCB) in exchange for newly issued common shares, streamlining Nuveen's municipal closed-end fund lineup, eliminating product overlap, increasing assets under management for greater scale and liquidity, reducing net operating expenses through economies of scale and a lower effective management fee rate, and enhancing portfolio flexibility while maintaining similar investment objectives, policies, and risks under the same portfolio management team led by specialists including Kristen M. DeJong and Scott R. Romans of Nuveen Fund Advisors, LLC (investment adviser) and Nuveen Asset Management, LLC (sub-adviser). In connection with this reorganization, the Fund also changed its domicile from a Minnesota corporation to a Massachusetts business trust, standardizing governance with other Nuveen funds, simplifying administration, and achieving cost savings by aligning with Massachusetts law across the Nuveen family. The Fund continues to operate without reported additional major strategic shifts, acquisitions, partnerships, or new product launches in 2024-2025, maintaining focus on its core California municipal bond strategy amid ongoing portfolio oversight by senior municipal debt specialists.