NUVEEN CALIFORNIA MUNICIPAL VALUE FUND

Nuveen California Municipal Value Fund is a closed-end fixed income mutual fund that invests primarily in municipal securities issued in California. The fund targets investment-grade securities rated Baa/BBB or higher and focuses on municipal bonds that generate income exempt from both federal and California state income taxes. The portfolio is constructed using fundamental analysis with a bottom-up security selection approach, with performance benchmarked against the S&P California Municipal Bond Index and S&P National Municipal Bond Index.

The fund is managed by Nuveen Fund Advisors LLC and Nuveen Asset Management LLC, both subsidiaries of Nuveen Investments, a Chicago-based asset management firm. As a closed-end fund structure, NCA issues a fixed number of shares that trade on the New York Stock Exchange, distinguishing it from open-end mutual funds. The fund was established in October 1987 and maintains its domicile in the United States.