Delaware Investments to redeem preferreds

By Cristal Cody

Tupelo, Miss., Oct. 14 - Delaware Investments' Colorado Municipal Income Fund and Minnesota Municipal Income Fund II plan to redeem all or a major portion of outstanding preferred shares, according to a notice Tuesday.

The first redemption is scheduled for Oct. 22.

The Colorado Municipal Income Fund intends to redeem series A and series B preferreds, and the Minnesota Municipal Income Fund II plans to redeem series B preferreds.

The amount and frequency of the redemption plan remain subject to market conditions, which have recently caused higher short-term interest rates for the funds.

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