FYI: -RiverNorth Capital Management, LLC (“RiverNorth”), an investment management firm specializing in opportunistic strategies, announced the launch of the RiverNorth Managed Duration Municipal Income Fund, Inc. (the “Fund”), a new municipal bond focused closed-end fund. RiverNorth will act as the investment adviser to the Fund and MacKay Shields LLC ("MacKay Shields") will act as subadviser. This is the second fund co-managed by the investment firms. The Fund will use the load waived pricing structure pioneered by RiverNorth last year. As a result, investors will not pay any upfront expenses, which allows the Fund to be priced at $20.00 per share with an initial net asset value (NAV) of $20.00 per share. Trading on the New York Stock Exchange began on July 26, 2019 under the symbol "RMM.”
Regards,
Ted
https://www.businesswire.com/news/home/20190730005945/en/RiverNorth-Launches-Managed-Duration-Municipal-Income-Fund
