Morgan Stanley Municipal Closed-End Funds to redeem $56.85 million auction-rate preferreds

By Cristal Cody

Springdale, Ark., Aug. 22 - The Morgan Stanley Municipal Closed-End Funds announced Friday plans to redeem $56.85 million of auction-rate preferred shares.

The redemptions make up 7.17% of outstanding preferreds sold by the funds and will bring the total redemptions to 24.1%.

The funds that will redeem preferreds Sept. 9-12 and Sept. 15 include Morgan Stanley's California Insured Municipal Income Trust, the California Quality Municipal Securities, the Insured Municipal Bond Trust, the Insured Municipal Income Trust, the Insured Municipal Trust, the Municipal Premium Income Trust, the New York Quality Municipal Securities, the Quality Municipal Income Trust, the Quality Municipal Investment Trust and the Quality Municipal Securities.

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