Nuveen California Performance Plus Municipal Fund, Inc. is a closed-end exchange traded fund. The Fund's primary investment objective is to provide current income exempt from both regular federal and California income tax. The Fund invests substantially all of its assets in a diversified portfolio of investment-grade tax-exempt California municipal obligations rated within the four highest grades (Baa/BBB or better). The Fund may invest up to 20% of its assets in unrated California municipal obligations. The Fund may employ financial futures and options. It is authorized to invest in inverse floating-rate securities and zero coupon securities. The Fund's adviser is Nuveen Asset Management, a wholly owned subsidiary of Nuveen Investments, Inc.