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RiverNorth Managed Duration Municipal Income Fund, Inc. is a diversified, closed-end management investment company registered under the 1940 Act. Its investment objective is to provide current income with managed duration through investment in municipal bonds and related instruments. The Fund is advised by RiverNorth Capital Management, LLC and subadvised by MacKay Shields LLC. The Adviser is paid a management fee of 1.40% of average daily Managed Assets, and the Subadviser is paid 0.20% annually by the Adviser. The Fund employs a level distribution policy, distributing a fixed monthly rate equal to 5.50% of the average NAV from the prior year’s final five trading days. Common Shares may be offered from time to time through ALPS Distributors, Inc. via an at-the-market offering program, with UBS Securities LLC acting as Sub-Placement Agent. The Fund does not currently issue preferred shares and utilizes leverage to enhance income, which may result in return of capital distributions.
News and Notices
RiverNorth Capital Management, LLC
2019
'40 Act
Exchange-Traded CEF
USD
Semi-Annually
Daily
1.40%
June 30
News and Notices
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1-10 of 27
Notices
Date
Time (ET)
Notice Type
Source
Notice
Feb 20, 2025
17:04
Compliance
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RiverNorth Managed Duration Municipal Income Fund identified its 2026 annual fund voting report as covering no other included managers and no series, with Marc Collins, General Counsel, signing on August 11, 2026.
Apr 28, 2024
14:49
Compliance
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RiverNorth Funds renewed its financial institution fidelity insurance for May 31, 2026 to May 31, 2027, with $6.75 million of coverage and a $9,972 premium. Participating RiverNorth vehicles are allocated minimum coverage and premium amounts under the joint insurance agreement.
Feb 05, 2023
16:28
Distributions
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RiverNorth Managed Duration Municipal Income Fund said it will consider an SEC staff comment to add monthly return-of-capital estimates to its website’s distribution table. Any website update could provide shareholders clearer distribution composition details.
May 18, 2025
16:21
Ownership
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RiverNorth Financial Holdings reported direct ownership of 0 common shares of beneficial interest in RiverNorth Managed Duration Municipal Income Fund, indicating no reportable equity position following the transaction.
Apr 26, 2024
17:01
Ownership, Personnel
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RiverNorth funds are holding a September 22, 2025 Annual Meeting to elect two Class II Directors for each fund, plus one Class III Director for OPP and RIV, with J. Wayne Hutchens, Jerry R. Raio and David M. Swanson nominated. Stockholders of record on August 19, 2025 may vote, and the Boards unanimously recommend approval.
Dec 19, 2022
21:30
Other
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RiverNorth Managed Duration Municipal Income Fund reported its 2025 fund voting record, signed by General Counsel Marc Collins on August 8, 2025. No separate investor-facing operational update or implication is explicitly communicated.
Aug 16, 2022
00:15
Other
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RiverNorth Managed Duration Municipal Income Fund’s registration statement became effective on April 15, 2025 at 11:00 a.m., reflecting regulatory effectiveness for its registered offering.
Jan 31, 2025
06:21
Fees, Marketing Materials, Performance
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RiverNorth Managed Duration Municipal Income Fund, Inc. updated its prospectus with December 31, 2024 leverage and expense figures, including tender option bond leverage of 38.87% of Managed Assets and a 3.89% weighted average leverage cost. It also refreshed market data, showing March 11, 2025 NAV of $15.93, a $14.57 share price, and $314.4 million of net assets.
Jul 20, 2024
17:03
Debt Issuances, Marketing Materials, Performance
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RiverNorth Managed Duration Municipal Income Fund, Inc. updated its prospectus and SAI to reflect leverage usage, including $4.1 million outstanding under the BNP Facility as of December 31, 2024, and a 45% effective leverage limit. It also updated market data to a $16.15 NAV and $14.42 last sale price per share, plus amended Rule 12d1-4 fund-of-funds agreements.
Apr 23, 2024
06:03
Debt Issuances, Performance, Personnel
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RiverNorth Managed Duration Municipal Income Fund, Inc. added Jonathan Browne as a co-portfolio manager effective September 30, 2024, and disclosed that he was responsible for 4 other registered investment companies with $1.2 billion in assets as of August 31, 2024. The filing also updates financing disclosures, including a $15 million BNP Paribas credit facility and a Pershing margin agreement, and refreshes NAV information at $16.38 per share on August 31, 2024.
Preview
RiverNorth Managed Duration Municipal Income Fund
RiverNorth Capital Management, LLC is responsible for managing RiverNorth Managed Duration Municipal Income Fund.
RiverNorth Managed Duration Municipal Income Fund launched in 2019.
RiverNorth Managed Duration Municipal Income Fund is registered as a '40 Act fund.
RiverNorth Managed Duration Municipal Income Fund is structured as a Exchange-Traded CEF fund.
You can invest in RiverNorth Managed Duration Municipal Income Fund by meeting its eligibility requirements and subscribing through the fund's offering process or an approved platform. Visit their website for more details.
You can invest in RiverNorth Managed Duration Municipal Income Fund daily, subject to eligibility and fund subscription deadlines.
You can redeem shares of RiverNorth Managed Duration Municipal Income Fund semi-annually, subject to redemption limits and notice requirements.
Shares of RiverNorth Managed Duration Municipal Income Fund can be purchased in USD.
RiverNorth Managed Duration Municipal Income Fund's fiscal year end is June 30.
RiverNorth Managed Duration Municipal Income Fund's net asset value was $292.6 million and its portfolio had a fair value of $483.9 million as of March 31, 2026.
Among other deal types, RiverNorth Managed Duration Municipal Income Fund primarily makes Debt Investments.
Among other asset classes, RiverNorth Managed Duration Municipal Income Fund primarily invests in Public Debt.
Among other regions, RiverNorth Managed Duration Municipal Income Fund primarily invests in the USA.
RiverNorth Managed Duration Municipal Income Fund charges a 1.40% annual management fee, which is calculated based on NAV.
You can invest in RMM shares with a minimum initial investment of $2,000.
There is no minimum subsequent investment for RMM shares, allowing you to invest any amount.
You will be subject to paying an early repurchase/redemption fee of 0%.
RiverNorth Managed Duration Municipal Income Fund's RMM share class generated an annualized 1-month return of 7.52% and since-inception return of 0.88% as of June 30, 2023.
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