Managed Duration to redeem AMPS via $60 million private placement

By Susanna Moon

Chicago, July 13 – Managed Duration Investment Grade Municipal Fund said it plans to redeem its outstanding auction market preferred shares in early August.

Managed Duration will fund the redemption using proceeds of a $60 million private placement of variable-rate munifund term preferred shares due July 31, 2020, according to a notice.

The redemption and paying agent is Computershare Inc.

The New York-based fund is a diversified closed-end management investment company.

Insight Investment, a subsidiary of Bank of New York Mellon, is responsible for the implementation and execution of the investment strategy on a day-to-day basis.

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