RiverNorth Closed-End Funds Declare Year-End Capital Gain Distributions

CHICAGO–(BUSINESS WIRE)–The RiverNorth Opportunistic Municipal Revenue Fund, Inc. and the RiverNorth Versatile Municipal Revenue Fund, Inc. have every declared a year-end capital acquire distribution, as detailed under. These year-end capital acquire distributions are along with every fund’s common month-to-month distribution and are being paid to permit the funds to fulfill their 2020 distribution necessities for federal excise tax functions.

___________________________________________________________________________________

1. RiverNorth doesn’t present tax recommendation; seek the advice of an expert tax advisor relating to your particular tax state of affairs. Revenue could also be topic to state and native taxes in addition to the AMT.

As of the date of this launch, RiverNorth Managed Period Municipal Revenue Fund, Inc., RiverNorth/DoubleLine Strategic Alternative Fund, Inc., and RiverNorth Specialty Finance Corp. don’t anticipate having to make a year-end capital acquire distribution. Such determinations are based mostly on then present estimates and are topic to alter.

With every distribution that doesn’t consist solely of internet funding revenue, the respective Fund will challenge a discover to shareholders and an accompanying press launch that can present detailed info relating to the quantity and composition of the distribution and different associated info. The quantities and sources of distributions reported within the discover to shareholders are solely estimates and should not being supplied for tax reporting functions. The precise quantities and sources of the quantities for tax reporting functions will rely upon the Fund’s funding expertise throughout its full fiscal yr and could also be topic to modifications based mostly on tax rules. Every Fund will ship shareholders a Kind 1099-DIV for the calendar yr that can inform them the best way to report these distributions for federal revenue tax functions.

Every Fund could at occasions distribute greater than its internet funding revenue and internet realized capital positive factors; subsequently, a portion of the distribution could end in a return of capital. A return of capital happens when some or the entire cash that shareholders invested within the Fund is paid again to them. A return of capital doesn’t essentially mirror the Fund’s funding efficiency and shouldn’t be confused with ‘yield’ or ‘revenue.’ Any such returns of capital will lower the Fund’s complete property and, subsequently, might have the impact of accelerating the Fund’s expense ratio. As well as, in an effort to make the extent of distributions known as for underneath its plan, the Fund could need to promote its portfolio securities at a lower than opportune time.

About RiverNorth

RiverNorth Capital Administration, LLC is an funding administration agency based in 2000. With $4.4 billion² in property underneath administration as of October 31, 2020, RiverNorth makes a speciality of opportunistic funding methods in area of interest markets the place the potential to use inefficiencies is best. RiverNorth is an institutional funding supervisor to registered funds, non-public funds and individually managed accounts.

This knowledge is for info solely and shouldn’t be construed as an official tax type, nor ought to or not it’s thought of tax or funding recommendation. RiverNorth is just not a tax advisor and traders ought to seek the advice of a tax skilled for steerage relating to their particular tax state of affairs. When making ready your tax return, please confer with your Kind 1099-DIV and seek the advice of your authorized or tax advisor.

A portion of the distribution could also be handled as paid from sources aside from internet revenue, together with however not restricted to brief‐time period capital acquire, lengthy‐time period capital acquire and return of capital.

Previous efficiency is not any assure of future outcomes.

Buyers ought to think about the Fund’s funding goal, dangers, fees and bills fastidiously earlier than investing. The prospectus must be learn fastidiously earlier than investing. For extra info, please learn the prospectus, name your monetary skilled or name 844.569.4750.

The Funds referenced above are closed-end funds, and closed-end funds don’t constantly challenge shares on the market as open-end mutual funds do. Because the preliminary public providing durations have closed, every Fund now trades within the secondary market. Buyers wishing to purchase or promote shares want to position orders by an middleman or dealer. The share value of a closed-end fund is predicated in the marketplace’s worth.

Shares of closed-end funding firms ceaselessly commerce at a reduction to their internet asset worth and preliminary providing value. The danger of loss as a result of this low cost could also be larger for preliminary traders anticipating to promote their shares in a comparatively brief interval after completion of the preliminary public providing.

Investments within the Funds should not applicable for all traders and should not meant to be full funding applications. The Funds are designed as a long-term investments and never as a buying and selling autos.

Danger is inherent in all investing. Investing in any funding firm safety entails danger, together with the danger that you could be obtain little or no return in your funding and even that you could be lose half or all your funding. Due to this fact, earlier than investing within the frequent shares of a Fund, you must think about the dangers in addition to the opposite info in every Fund’s prospectus.

²Agency AUM displays Managed Property which incorporates the results of leverage and investments in affiliated funds.

Chris Lakumb is a registered consultant of ALPS Distributors, Inc.

Not FDIC Insured | Might Lose Worth | No Financial institution Assure

ALPS Distributors, Inc. is the FINRA Member Agency.

RiverNorth® is a registered trademark of RiverNorth Capital Administration, LLC.

DoubleLine® is a registered trademark of DoubleLine Capital LP.

©2000-2020 RiverNorth Capital Administration, LLC. All rights reserved.

RMI000183