RiverNorth believes closed-end funds offer investors the ability to purchase a diversified fund with potential for additional returns through changes in the fund's market price relative to Net Asset Value, combining this structure with MacKay Municipal Managers' municipal bond expertise. The fund allocates assets between tactical municipal closed-end fund strategy and municipal bond income strategy, targeting security selection, sector rotation, yield curve positioning and duration management in investment-grade municipal debt securities.
RMI is an established municipal income closed-end fund with a clear tax-advantaged value proposition and dual-strategy approach combining tactical closed-end positioning with traditional municipal bond management. The fund has consistent monthly distributions and disciplined portfolio construction, though performance depends on municipal bond market conditions and closed-end fund discount/premium dynamics.
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