The Process Pillar is our assessment of how sensible, clearly defined, and repeatable VCADX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the VCADX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of VCADX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Still one of the best California muni offerings.
Elizabeth Foos
Associate Director
Summary
We have qualitatively reviewed this strategy and reaffirmed its Above Average Process and People ratings. The following text is from March 8, 2023.