RiverNorth Capital Management, LLC has announced the launch of Rivernorth Managed Duration Municipal Income Fund Inc, a closed-ended fixed income mutual fund. The fund is co-managed by MacKay Shields LLC and invests in the fixed income markets of the United States, with a focus on investment grade municipal debt securities of any maturity. The fund's portfolio performance is benchmarked against the Bloomberg Barclays Municipal Bond Index and utilizes proprietary research to create its portfolio. Rivernorth Managed Duration Municipal Income Fund Inc. was formed on July 26, 2019 and is domiciled in the United States.