Delaware Investments to redeem preferreds from three closed-end funds

By Cristal Cody

Tupelo, Miss., Oct. 16 - Delaware Investments said Thursday that it plans to redeem outstanding preferred shares from three closed-end funds on Oct. 24.

Delaware Investments' Arizona Municipal Income Fund and the National Municipal Income Fund plan to redeem shares from each fund's series A and series B.

The Minnesota Municipal Income Fund II intends to redeem series A, C and D preferreds.

The funds are redeeming the shares due to the potential for a lower rate of return in the current market conditions.

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