Nuveen California Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments Inc The fund is comanaged by Nuveen Fund Advisors LLC and Nuveen Asset Management LLC It invests in the fixed income markets of California United States The fund invests in undervalued municipal securities and other related investments that are exempt from regular federal and California income taxes It primarily invests in securities that are rated Baa or BBB or better by Moodys Investors Service Inc or Standard Poors and have an average maturity of 2096 years The fund employs fundamental analysis with a bottomup approach to create its portfolio It benchmarks the performance of its portfolio against the Standard Poors SP California Municipal Bond Index and Standard Poors SP National Municipal Bond Index The fund was formerly known as Nuveen California Dividend Advantage Municipal Fund Nuveen California Quality Municipal Income Fund was formed on December 1 1998 and is domiciled in the United States