RiverNorth Managed Duration Municipal Income Fund, Inc.

RiverNorth Managed Duration Municipal Income Fund, Inc. is a closed-end fixed income mutual fund specializing in U.S. municipal bonds. Managed by RiverNorth Capital Management, LLC, in collaboration with MacKay Shields LLC, its primary purpose is to provide investors with current income that is generally exempt from regular U.S. federal income taxes, which plays a significant role for tax-sensitive investors. The fund primarily invests in high-quality, investment-grade municipal debt securities and applies a combination of fundamental and quantitative analysis to portfolio construction. Its performance is benchmarked against the Bloomberg Barclays Municipal Bond Index, underscoring its alignment with broader municipal bond market trends. While the fund can invest in securities of any maturity, it is also designed with a predefined life, scheduled to terminate on or before July 25, 2031, subject to possible extensions at the discretion of its board. RiverNorth Managed Duration Municipal Income Fund, Inc. thus serves as a specialized vehicle for investors seeking tax-advantaged income and diversification within the U.S. municipal bond market, while balancing considerations for risk, liquidity, and market conditions.