RiverNorth Managed Duration Municipal Income Fund II, Inc. (RMMZ) is an investment company that primarily focuses on municipal bond strategies. The company's primary goal is to provide its investors with a high level of current income. RMMZ aims to achieve this by investing primarily in a diversified portfolio of municipal securities. To maximize potential returns, the firm tactically invests in closed-end funds investing in municipal bonds across a variety of sectors and credit qualities.
RiverNorth Managed Duration Municipal Income Fund II, Inc., also known as RiverNorth Muni II, is managed by RiverNorth Capital Management, LLC, an investment management firm dedicated to unconventional thinking, proprietary portfolio construction, and investor alignment. RiverNorth is based in Chicago, Illinois, and was founded in 2000 with a specialty in tactical asset allocation.
In providing the shareholders with the potential for tax-exempt income, RMMZ's investment objectives are twofold. On the one hand, it aims for current income exempt from regular U.S. federal income taxes. Simultaneously, it also endeavors to outperform the Bloomberg Barclays Municipal Bond Index on a total return basis.
RMMZ primarily invests at least 80% of its managed assets in municipal securities rated investment grade at the time of investment. The firm also tactically invests in Municipal Closed-End Funds and ETFs. Additionally, RMMZ may opportunistically invest in other securities and derivatives.
The fund also employs a managed distribution policy, under which it makes monthly distributions to shareholders. The policy can provide investors with a steady income stream and may give them the opportunity to reinvest the distributions to purchase additional shares and compound their investment returns over time.
In sum, RiverNorth Managed Duration Municipal Income Fund II, Inc. is a strong choice for investors seeking tax-exempt income from a portfolio primarily focused on municipal securities. With its managed distribution policy and the backing of an experienced investment management firm like RiverNorth Capital Management, LLC, RMMZ offers a unique and promising investment opportunity.