The Pimco California Municipal Income Fund (PCQ) is a mutual fund that primarily invests in municipal bonds issued by the state of California. These bonds are issued by local governments and are used to fund public projects such as schools, roads, and utilities. The fund aims to provide investors with a steady stream of tax-free income while also preserving the capital invested. It is managed by Pimco, a global investment management firm known for its expertise in fixed income investments. PCQ is a suitable option for investors seeking tax-exempt income from investments in California municipal bonds.