RiverNorth Managed Duration Municipal Income Fund, Inc. Overview
Pro stress-test →RiverNorth Managed Duration Municipal Income Fund, Inc. is a closed-end fixed income mutual fund launched and managed by RiverNorth Capital Management, LLC. The fund primarily invests in investment grade municipal debt securities and seeks to provide current income exempt from regular U.S. federal income taxes with a secondary objective of total return.
Strategic Profile
Pro stress-test →The RMM fund utilizes tactical municipal closed-end fund strategies to deliver managed duration and diversified income opportunities. RiverNorth believes closed-end funds offer a distinct structure whereby investors can purchase a diversified fund and potentially generate additional return through the change in the relationship between the closed-end fund's market price and Net Asset Value, and combining a municipal closed-end fund strategy with MacKay Municipal Managers provides an attractive investment vehicle.
Competitive Landscape
Pro stress-test →RMM competes within the municipal bond closed-end fund space, where peer funds include other RiverNorth municipal offerings and broad-based municipal bond CEFs. The fund differentiates through its managed duration strategy and dual-manager approach, focusing on investment-grade municipal securities with potential for market price appreciation relative to NAV in tactical market conditions.
Industry Context
RiverNorth Managed Duration Municipal Income Fund, Inc. operates in Municipal bond closed-end funds.
Key facts
Founded: 2019 · Headquarters: Boston, US · Employees: N/A · Revenue: N/A · Market cap: N/A