RiverNorth Launches Managed Duration Municipal Income Fund with MacKay Municipal Managers™*
RiverNorth Managed Duration Municipal Income Fund, Inc. (RMM)
Company Research
Source: Business Wire
CHICAGO--(BUSINESS WIRE)--RiverNorth Capital Management, LLC (“RiverNorth”), an investment management firm specializing in opportunistic strategies, announced the launch of the RiverNorth Managed Duration Municipal Income Fund, Inc. (the “Fund”), a new municipal bond focused closed-end fund. RiverNorth will act as the investment adviser to the Fund and MacKay Shields LLC ("MacKay Shields") will act as subadviser. This is the second fund co-managed by the investment firms. The Fund will use the load waived pricing structure pioneered by RiverNorth last year. As a result, investors will not pay any upfront expenses, which allows the Fund to be priced at $20.00 per share with an initial net asset value (NAV) of $20.00 per share. Trading on the New York Stock Exchange began on July 26, 2019 under the symbol "RMM.”The Fund’s primary investment objective is current income exempt from regular U.S. federal income taxes (but which may be includable in taxable income for purposes of the Fed
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Sec Filings
- 10/23/24 - Form N-2/A
- 10/1/24 - Form 3
- 9/11/24 - Form N-CEN
- RMM's page on the SEC website