RMMZRiverNorth Managed Duration Municipalome Fund II
About RiverNorth Managed Duration Municipalome Fund II
RiverNorth Managed Duration Municipal Income Fund II (NYSE:RMM) is focused on achieving high income and capital appreciation by primarily investing in a diversified portfolio of municipal securities. The company employs a dynamic approach, adjusting its portfolio in response to market conditions and opportunities, aiming to provide shareholders with tax-exempt income. RiverNorth's strategy involves active management of its investments, leveraging the expertise of its investment team to identify undervalued municipal bonds with strong return potential. The fund's objective emphasizes not only generating income but also managing risk, to ensure a stable financial performance over time.
What is RMMZ known for?
Snapshot
Public US
Ownership
2021
Year founded
24
Employees
West Palm Beach, United States
Head office
1 of 5
US Rank
Unknown
Sector
N/A
Sector rank
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Operations
All Locations
West Palm Beach, US
Products and/or services of RiverNorth Managed Duration Municipalome Fund II
- Income Generation: RMMZ focuses on investing in municipal bonds, which are debt instruments issued by state and local governments in the United States. These bonds generally offer tax-exempt interest income for most US investors.
- Managed Duration: The fund has a "managed duration" approach, meaning the portfolio managers aim to control the interest rate sensitivity of the fund. This can help mitigate the impact of rising interest rates on the fund's price.
- Investment-Grade Focus: RMMZ primarily invests in investment-grade municipal bonds, which are considered to have a lower risk of default compared to high-yield bonds.
- Active Management: The fund is actively managed by a team of professionals who select municipal bonds based on their credit quality, maturity, and other factors.
- Monthly Distributions: RMMZ has a level distribution policy, aiming to distribute a fixed amount of money to shareholders each month. These distributions may consist of income earned by the fund and potential return of capital.
- Tax-Advantaged Potential: Municipal bond interest is generally exempt from federal income tax and often state and local taxes as well (depending on the investor's residence). This tax-exempt feature can be attractive for investors seeking income with reduced tax implications.