The Neuberger Berman California Municipal Fund Inc (NBW) is a mutual fund that primarily invests in municipal bonds issued by the state of California. These bonds are used to fund various public projects such as infrastructure, education, and healthcare. The fund aims to provide investors with tax-free income and potential capital appreciation while also supporting the development of local communities in California. Managed by Neuberger Berman, a global investment management firm, this fund offers a diversified portfolio of high-quality municipal bonds with a focus on the California market.