RiverNorth Opportunistic Municipal Income Fund, Inc. Overview
Pro stress-test →RMI combines tactical municipal closed-end fund strategies with municipal bond expertise to deliver tax-advantaged income and capital growth. The fund commenced investment operations in October 2018 and seeks current income exempt from regular United States federal income taxes as its primary objective, with total return as a secondary objective.
Strategic Profile
Pro stress-test →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.
Competitive Landscape
Pro stress-test →RMI competes with other tax-exempt closed-end funds and municipal bond strategies. Similar RiverNorth funds include RFM (Flexible Municipal Income) and RMM (Managed Duration Municipal Income). Broader competitors include traditional open-end municipal bond funds and individual municipal bond ladders.
Industry Context
RiverNorth Opportunistic Municipal Income Fund, Inc. operates in Municipal bond closed-end funds.
Key facts
Founded: 2018 · Headquarters: West Palm Beach, US · Employees: N/A · Revenue: N/A · Market cap: N/A