RiverNorth Managed Duration Municipal Income Fund II, Inc. Overview
Pro stress-test →RiverNorth Managed Duration Municipal Income Fund II is a closed-end fund that combines two investment strategies, including individual municipal bonds and fund-of-funds exposure. The fund has $146.6m in common assets and $231m in total AUM with a yield of 6.9%.
Strategic Profile
Pro stress-test →The fund's primary investment objective is current income exempt from regular U.S. federal income taxes, with a secondary objective of total return. The fund combines a municipal closed-end fund strategy with MacKay Municipal Managers, a municipal bond team within MacKay Shields LLC, providing an attractive investment vehicle for tax-conscious investors.
Competitive Landscape
Pro stress-test →RMMZ competes within the closed-end municipal bond fund space. Direct competitors include other RiverNorth municipal funds (such as RMM and RFM) as well as other established municipal CEF providers including BlackRock MuniYield Quality Fund and Western Asset Managed Municipals Fund. The competitive advantage derives from the hybrid municipal/fund-of-funds strategy and active duration management.
Industry Context
RiverNorth Managed Duration Municipal Income Fund II, Inc. operates in Closed-end municipal bond funds.
Key facts
Founded: 2021 · Headquarters: West Palm Beach, FL, US · Revenue: $231M (AUM) · Market cap: N/A