DWS Municipal Income Trust and DWS Strategic Municipal Income Trust Announce Portfolio Manager Changes
July 08 2021 - 4:30PM
Business Wire
DWS Municipal Income Trust (NYSE: KTF) and DWS Strategic
Municipal Income Trust (NYSE: KSM) (each, a “Fund,” and,
collectively, the “Funds”) announced today changes to each
Fund’s portfolio management team effective October 1, 2021. Ashton
P. Goodfield will leave each Fund’s portfolio management team
effective October 1, 2021.
KTF will continue to be managed by Michael J. Generazo and Peter
Aloisi along with Chad H. Farrington, who will join the Fund’s
management team effective October 1, 2021. Mr. Farrington joined
DWS in 2018 with 20 years of industry experience. He previously
worked as Portfolio Manager, Head of Municipal Research, and Senior
Credit Analyst at Columbia Threadneedle and has a BS from Montana
State University.
KSM will continue to be managed by Chad H. Farrington and
Michael J. Generazo along with Peter Aloisi, who will join the
Fund’s management team effective October 1, 2021. Mr. Aloisi joined
DWS in 2010 with five years of industry experience. He previously
served as an Associate at Banc of America Securities and has a BA
and MBA, from Boston College.
For more information on the Funds, including its most recent
month-end performance, visit dws.com or call (800) 349-4281.
Important Information
DWS Municipal Income Trust. Bond investments are subject to
interest-rate, credit, liquidity and market risks to varying
degrees. When interest rates rise, bond prices generally fall.
Credit risk refers to the ability of an issuer to make timely
payments of principal and interest. Municipal securities are
subject to the risk that litigation, legislation or other political
events, local business or economic conditions or the bankruptcy of
the issuer could have a significant effect on an issuer’s ability
to make payments of principal and/or interest. The market for
municipal bonds may be less liquid than for taxable bonds and there
may be less information available on the financial condition of
issuers of municipal securities than for public corporations.
Investing in derivatives entails special risks relating to
liquidity, leverage and credit that may reduce returns and/or
increase volatility. Leverage results in additional risks and can
magnify the effect of any gains or losses. Although the fund seeks
income that is exempt from federal income taxes, a portion of the
fund’s distributions may be subject to federal, state and local
taxes, including the alternative minimum tax.
DWS Strategic Municipal Income Trust. Bond investments are
subject to interest-rate, credit, liquidity and market risks to
varying degrees. When interest rates rise, bond prices generally
fall. Credit risk refers to the ability of an issuer to make timely
payments of principal and interest. Municipal securities are
subject to the risk that litigation, legislation or other political
events, local business or economic conditions or the bankruptcy of
the issuer could have a significant effect on an issuer’s ability
to make payments of principal and/or interest. The market for
municipal bonds may be less liquid than for taxable bonds and there
may be less information available on the financial condition of
issuers of municipal securities than for public corporations.
Investing in derivatives entails special risks relating to
liquidity, leverage and credit that may reduce returns and/or
increase volatility. Leverage results in additional risks and can
magnify the effect of any gains or losses. Although the fund seeks
income that is exempt from federal income taxes, a portion of the
fund’s distributions may be subject to federal, state and local
taxes, including the alternative minimum tax.
Closed-end funds, unlike open-end funds, are not continuously
offered. There is a one-time public offering and once issued,
shares of closed-end funds are bought and sold in the open market
through a stock exchange. Shares of closed-end funds frequently
trade at a discount to the net asset value. The price of a fund’s
shares is determined by a number of factors, several of which are
beyond the control of the fund. Therefore, the fund cannot predict
whether its shares will trade at, below or above net asset
value.
Past performance is no guarantee of future results.
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction.
War, terrorism, economic uncertainty, trade disputes, public
health crises (including the recent pandemic spread of the novel
coronavirus) and related geopolitical events could lead to
increased market volatility, disruption to US and world economies
and markets and may have significant adverse effects on the funds
and their investments.
NOT FDIC/ NCUA INSURED • MAY LOSE VALUE • NO
BANK GUARANTEE NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL
GOVERNMENT AGENCY
The brand DWS represents DWS Group GmbH & Co. KGaA and any
of its subsidiaries such as DWS Distributors, Inc. which offers
investment products or DWS Investment Management Americas, Inc. and
RREEF America L.L.C. which offer advisory services. (R-084287-1)
(07/21)
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version on businesswire.com: https://www.businesswire.com/news/home/20210708005905/en/
For additional information:
DWS Press Office (212) 454-4500 Shareholder Account
Information (800) 294-4366 DWS Closed-End Funds (800)
349-4281
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