Core Insights - AllianceBernstein has launched the AB California Intermediate Municipal ETF (CAM), an actively managed ETF designed to meet client demand for state-specific investment options in municipal bonds [1][2][3] Company Overview - AllianceBernstein is a leading global investment management firm with over 30 years of experience in municipal bond capabilities, managing over $82 billion in municipal assets [3] - As of August 2025, AllianceBernstein had $844 billion in assets under management, providing diversified investment services to institutional investors, individuals, and private wealth clients [4] Product Details - The CAM ETF aims to provide safety of principal and maximize total return for California residents after accounting for federal and state taxes [2] - The ETF is part of a broader strategy to offer versatile investment vehicles that can serve both as long-term investments and liquidity sleeves within municipal portfolios [2]