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abrdn National Municipal Income Fund (NYSE American: VFL) is a reputable closed-end management investment company that aims to provide current income exempt from regular federal income tax. Managed by abrdn Inc., the Fund focuses on preserving capital for its investors by investing in high-quality municipal bonds. The Fund has a diverse portfolio including mutual funds, exchange-traded funds, private markets, Delaware Funds by Macquarie Premier Models, managed accounts, closed-end funds, and variable insurance products.
Since abrdn took over the management on July 7, 2023, the Fund has shifted towards higher-yielding securities while reducing its exposure to below-investment-grade securities. This strategic move has enhanced the Fund's monthly earnings and improved the credit quality of its portfolio. In a recent performance report, the Fund ranked in the top quintile within the US closed-end high-yield Morningstar category over the last three months, placing 5th out of 24 funds in its peer group as of November 30, 2023.
On December 14, 2023, abrdn National Municipal Income Fund announced a significant increase in its monthly distribution by 15%, from $0.0325 per share to $0.0375 per share, effective January 31, 2024. This decision reflects the Fund’s enhanced financial condition and commitment to providing sustainable income to its shareholders. Based on the NAV of $11.46 as of November 30, 2023, the distribution rate increased from 3.4% to 3.9%. Similarly, with a share price of $9.51, the share price distribution rate rose from 4.1% to 4.7%.
The Fund distributes a portion of its net investment income monthly to common shareholders, aimed at reducing its current discount to NAV. However, it is important to note that past performance does not guarantee future results. Investment returns and principal values will fluctuate, and shares may be worth more or less than their original cost when sold. Shareholders will receive a Form 1099-DIV at the end of each calendar year, detailing the amount and composition of distributions for accurate tax reporting.
With a well-rounded investment approach, abrdn National Municipal Income Fund remains a significant player in delivering tax-exempt income while focusing on capital preservation. Investors seeking reliable performance and consistent distributions may find this Fund an attractive option.
Delaware Investments National Municipal Income Fund (NYSE American: VFL) has declared a monthly distribution of $0.0450 per share, payable on March 31, 2023. Shareholders of record as of March 24, 2023 will receive this distribution, with an ex-dividend date of March 23, 2023. The fund aims to provide tax-exempt income while preserving capital and may utilize leverage for higher returns. As of September 30, 2022, Macquarie Asset Management manages over $508 billion in assets globally.
Delaware Investments National Municipal Income Fund (NYSE: VFL) announced a monthly distribution of $0.0450 per share, payable on February 24, 2023, to shareholders of record as of February 17, 2023. The ex-dividend date is set for February 16, 2023. The fund aims to provide current income exempt from federal income tax while preserving capital. Leveraging techniques may be utilized to enhance returns, although achieving investment objectives is not guaranteed. Macquarie Asset Management manages the fund and oversees more than $508 billion in global assets.
On December 22, 2022, the Delaware Investments National Municipal Income Fund (symbol: VFL) announced that its Board of Trustees approved a new investment management agreement with abrdn Inc. The change is expected to be finalized in Q2 2023, pending shareholder approval. The Fund’s investment objectives will remain unchanged, focusing on providing tax-exempt income while preserving capital. Shareholders are advised to read the forthcoming definitive Proxy Statement for more details on the abrdn fund adoption.
Delaware Investments National Municipal Income Fund (VFL) announced the results of its tender offer, which accepted 8,678,691 common shares from investors, approximately 41.41% of its outstanding shares. The shares were purchased at $11.95 each, slightly below the net asset value of $12.07. The Fund is also redeeming 360 Muni-MultiMode Preferred Shares to manage its leverage, scheduled for December 20, 2022. The primary objective remains to provide tax-exempt income while utilizing leveraging techniques for potential higher returns.
Delaware Investments National Municipal Income Fund (VFL) announced the results of its tender offer to buy back up to 10,478,347 common shares, equating to 50% of its outstanding shares. The offer, which expired on December 13, 2022, saw approximately 8,018,569 shares tendered. Shareholders will be paid 99% of the net asset value for the shares accepted within ten business days post-expiration. The Fund aims to provide tax-exempt income while managing risk through leveraging techniques. Final share acceptance numbers will be announced later.
The Delaware Investments National Municipal Income Fund (NYSE: VFL) declared a monthly distribution of $0.0450 per share, payable on December 30, 2022, to shareholders on record as of December 22, 2022. The ex-dividend date is set for December 21, 2022. The fund aims to provide current income exempt from federal income tax while preserving capital, with the option to leverage for potential higher returns. However, achieving investment objectives is not guaranteed.
Delaware Investments National Municipal Income Fund (NYSE: VFL) announced its intention to redeem up to 1,350 preferred shares at a price of $100,000 per share, plus accumulated dividends. This move aims to manage leverage levels in relation to its common shares tender offer, previously announced on July 22, 2022. The preferred share redemption is expected to occur on or about December 20, 2022. The Fund plans to finance these redemptions through cash on hand and asset sales. Redemption notifications will be sent to holders via The Depository Trust Company.
The Delaware Investments National Municipal Income Fund (NYSE American: VFL) declared a monthly distribution of $0.0450 per share, payable on November 25, 2022, to shareholders of record on November 18, 2022. The ex-dividend date is November 17, 2022. The fund aims to provide current income exempt from federal income tax while preserving capital, and employs leveraging techniques for higher returns. As of June 30, 2022, Macquarie Asset Management oversees over $534 billion in global assets.
The Delaware Investments National Municipal Income Fund (VFL) announced a tender offer to buy back up to 10,478,347 common shares, equating to 50% of its outstanding shares. The offer opens on November 14, 2022, and will close by 5:00 PM ET on December 13, 2022. Shares will be purchased at 99% of the Fund's net asset value. The Fund's shares have been trading at a discount to net asset value, and its aim is to provide income exempt from federal tax while preserving capital. The offer documents will be available for common shareholders.
Delaware Investments National Municipal Income Fund (VFL) declared a monthly distribution of $0.0450 per share, payable on October 28, 2022. Shareholders on record by October 21, 2022 will be eligible, with an ex-dividend date set for October 20, 2022. The fund aims to provide current income exempt from federal income tax and may use leverage to enhance returns, though there is no guarantee of achieving its investment objectives.
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