GBAB Announces Investment Policy Modifications and Name Change
August 31 2020 - 4:15PM
Guggenheim Investments announced today that the Board of Trustees
of Guggenheim Taxable Municipal Managed Duration Trust (“GBAB” or
the “Trust”) approved modifications to certain non-fundamental
investment policies along with a corresponding name change. The
modifications are primarily intended to provide the Trust with
greater investment flexibility while remaining consistent with the
Trust’s overall investment objectives. The modifications and name
change will become effective on or around November 19, 2020.
The Trust will expand its non-fundamental 80% investment policy
to include, in addition to taxable municipal securities, other
investment grade, income-generating debt securities. In addition to
the 80% investment policy change, the Trust will (i) remove certain
limitations on the composition of the other 20% of its net assets
plus the amount of any borrowings for investment purposes (“Managed
Assets”), (ii) remove the limitation on illiquid investments and
(iii) add a policy to invest at least 50% of its Managed Assets in
taxable municipal securities.
In connection with the investment policy modifications, the
Trust’s name will change to: Guggenheim Taxable Municipal Bond
& Investment Grade Debt Trust. The Trust will continue to trade
on the NYSE under its current ticker symbol, “GBAB”.
No change to the Trust’s portfolio management team is currently
anticipated, nor is it currently anticipated that there will be
substantial portfolio turnover in the immediate future in
conjunction with these changes.
No action is required by shareholders of the Trust in connection
with these investment policy modifications.
For updated information and a discussion of the risk
considerations associated with an investment in the Trust, please
visit the Trust’s website at guggenheiminvestments.com/GBAB.
About Guggenheim Investments
There can be no assurance that the Trust will achieve its
investment objectives. An investment in the Trust involves
operating expenses and fees. The net asset value of the Trust will
fluctuate with the value of the underlying securities. It is
important to note that closed-end funds trade on their market
value, not net asset value, and closed-end funds can trade at a
discount or premium to their net asset value. Past performance is
not indicative of future performance.
Investors should consider the investment
objectives and policies, risk considerations, charges and expenses
of any investment before they invest. For this and more
information,
visitwww.guggenheiminvestments.com
or contact a securities representative or Guggenheim Funds
Distributors, LLC 227 West Monroe Street, Chicago, IL 60606,
800-345-7999.
Analyst InquiriesWilliam T.
Korvercefs@guggenheiminvestments.com
Not FDIC-Insured | Not Bank-Guaranteed | May Lose
Value
Member FINRA/SIPC (8/20) 44689
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