American Funds Tax-Exempt Fund of CA Cl F-1 Shs

This fund is designed to achieve its investment goals primarily by allocating capital to municipal debt instruments originating from the State of California, its various agencies, and local government bodies. While its core focus remains within California, the portfolio also possesses the flexibility to acquire municipal securities issued by jurisdictions beyond the state's borders. A key mandate for the fund is to ensure that a minimum of 80% of its total assets, or the income generated from them, comes from securities that are exempt from both standard federal and California state income taxes, and which, importantly, do not expose investors to the federal Alternative Minimum Tax (AMT).