Closed-end management investment company that seeks high current income exempt from regular federal income tax by investing in municipal bonds.
RiverNorth Managed Duration Municipal Income Fund Inc., launched on July 26, 2019, operates as a closed-end fixed income mutual fund managed by RiverNorth Capital Management, LLC, in collaboration with MacKay Shields LLC. Specializing in the fixed income markets of the United States, the fund primarily invests in investment grade municipal debt securities. These securities span various maturities, providing the fund with flexibility in its investment approach.
The investment strategy of RiverNorth Managed Duration Municipal Income Fund Inc. combines fundamental and quantitative analysis to optimize portfolio performance. It benchmarks its investment outcomes against the Bloomberg Barclays Municipal Bond Index, a widely recognized indicator for municipal bond market performance. The fund utilizes proprietary research to identify promising opportunities within the municipal bond sector, aiming to deliver competitive returns while managing risk effectively.
Based in the United States, RiverNorth Managed Duration Municipal Income Fund Inc. operates within a structured framework that emphasizes disciplined investment practices and rigorous risk management. As it navigates the dynamic landscape of fixed income investments, the fund remains dedicated to meeting investor expectations through strategic portfolio management and adherence to its investment objectives. While its current focus remains on traditional fixed income securities, the evolving financial environment may prompt exploration of emerging trends, including potential involvement in digital assets and cryptocurrencies in the future.