DWS Closed-End Funds Announce Results of Annual Meeting of Shareholders

Rhea-AI Summary

DWS Municipal Income Trust (NYSE: KTF) and DWS Strategic Municipal Income Trust (NYSE: KSM) held their 2022 Joint Annual Meeting of Shareholders on September 23, 2022, where Trustees were successfully elected. The nominees, including Chad D. Perry and Catherine Schrand for Class II Trustee, received sufficient votes from both common and preferred shareholders. The Funds highlight the risks associated with bond investments, including interest-rate, credit, and market risks. Investors should note that closed-end fund shares may trade at a discount to net asset value and are not insured by federal agencies.

Positive

• Trustee nominees received sufficient votes for election.
• Quorum was present at the Joint Annual Meeting.

Negative

• Investments in bonds carry inherent risks such as interest-rate and credit risks.
• Shares may trade at a discount to net asset value.

NEW YORK--(BUSINESS WIRE)-- DWS Municipal Income Trust (NYSE: KTF) and DWS Strategic Municipal Income Trust (NYSE: KSM) (each, a “Fund” and collectively, the “Funds”) announced today the results of the 2022 Joint Annual Meeting of Shareholders of the Funds held on September 23, 2022.

For each of KTF and KSM, a quorum was present and the Class II Trustee nominees (Mr. Chad D. Perry and Ms. Catherine Schrand) and preferred share Trustee nominees (Mr. Keith R. Fox and Ms. Dawn-Marie Driscoll) received a sufficient number of votes from the common shareholders and preferred shareholders, voting together as a single class, and from the preferred shareholders only, voting as a separate class, respectively, to be elected as Trustees.

For more information on the Funds, including their most recent month-end performance, visit dws.com or call (800) 349-4281.

Important Information

DWS Municipal Income Trust. Bond investments are subject to interest-rate, credit, liquidity and market risks to varying degrees. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Municipal securities are subject to the risk that litigation, legislation or other political events, local business or economic conditions or the bankruptcy of the issuer could have a significant effect on an issuer’s ability to make payments of principal and/or interest. The market for municipal bonds may be less liquid than for taxable bonds and there may be less information available on the financial condition of issuers of municipal securities than for public corporations. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. Leverage results in additional risks and can magnify the effect of any gains or losses. Although the fund seeks income that is exempt from federal income taxes, a portion of the fund’s distributions may be subject to federal, state and local taxes, including the alternative minimum tax.

DWS Strategic Municipal Income Trust. Bond investments are subject to interest-rate, credit, liquidity and market risks to varying degrees. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Municipal securities are subject to the risk that litigation, legislation or other political events, local business or economic conditions or the bankruptcy of the issuer could have a significant effect on an issuer’s ability to make payments of principal and/or interest. The market for municipal bonds may be less liquid than for taxable bonds and there may be less information available on the financial condition of issuers of municipal securities than for public corporations. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. Leverage results in additional risks and can magnify the effect of any gains or losses. Although the fund seeks income that is exempt from federal income taxes, a portion of the fund’s distributions may be subject to federal, state and local taxes, including the alternative minimum tax.

Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering and once issued, shares of closed-end funds are bought and sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to the net asset value. The price of a fund’s shares is determined by a number of factors, several of which are beyond the control of the fund. Therefore, the fund cannot predict whether its shares will trade at, below or above net asset value.

Past performance is no guarantee of future results.

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

War, terrorism, sanctions, economic uncertainty, trade disputes, public health crises and related geopolitical events have led, and, in the future, may lead to significant disruptions in US and world economies and markets, which may lead to increased market volatility and may have significant adverse effects on the fund and its investments.

NOT FDIC/ NCUA INSURED • MAY LOSE VALUE • NO BANK GUARANTEE

NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas, Inc. and RREEF America L.L.C. which offer advisory services. (R-092001-1) (09/22)

View source version on businesswire.com: https://www.businesswire.com/news/home/20220923005333/en/

For additional information:

DWS Press Office (212) 454-4500

Shareholder Account Information (800) 294-4366

DWS Closed-End Funds (800) 349-4281

Source: DWS Closed-End Funds

FAQ

What was the outcome of the 2022 Joint Annual Meeting for KTF and KSM?

Trustee nominees for KTF and KSM were successfully elected during the 2022 Joint Annual Meeting held on September 23, 2022.

What are the risks associated with investing in DWS Municipal Income Trust (KTF)?

Investing in KTF involves risks like interest-rate, credit, liquidity, and market risks that may affect bond performance.

What happened on September 23, 2022, for KTF and KSM?

On September 23, 2022, the 2022 Joint Annual Meeting was held, during which Trustees were elected.

Are shares of KTF and KSM insured?

No, shares of KTF and KSM are not FDIC or NCUA insured.

How may the market conditions affect the Funds KTF and KSM?

Market disruptions such as war, economic uncertainty, and trade disputes may lead to increased volatility and adversely affect the Funds.