Printer Friendly

VOYAGEUR FUND MANAGERS LAUNCH THREE NEW MUNICIPAL INCOME FUNDS ON THE AMERICAN STOCK EXCHANGE

 NEW YORK, Feb. 19 /PRNewswire/ -- The American Stock Exchange today announced that it has commenced trading the common shares of three new municipal income funds, including Voyageur Minnesota Municipal Income Fund II, Inc., Voyageur Florida Insured Municipal Income Fund, and Voyageur Arizona Municipal Income Fund, Inc.
 Trading under ticker symbols "VMM", "VFL" and "VAZ" respectively, each fund opened on a quote of 15 (bid) - 15-1/8 (ask). The funds, managed by Minneapolis, Minn.-based Voyageur Fund Managers, have selected Kalb, Voorhis & Co. as their specialist firm.
 The initial public offering of these funds consists of 1,500,000 shares of common stock each. PaineWebber Incorporated is the lead manager of these offerings, which were registered under the Investment Company Act of 1940.
 Each fund is a newly organized, closed-end, diversified management investment company. The Minnesota and Arizona funds seek as high a level of current income exempt from both regular federal income tax and Minnesota and Arizona state personal income taxes, consistent with the preservation of capital. These two funds will invest in portfolios of investment grade (Baa-Moody's Investors Services, Inc./BBB-Standard & Poor's Corporation) Minnesota and Arizona Municipal Obligations which Voyageur believes do not involve undue risk to income or principal. The funds may also invest up to 20 percent of their assets in non-rated Minnesota and Arizona Municipal Obligations determined by Voyageur to be of comparable quality.
 The Florida fund's investment objective is to seek as high a level of current income exempt from regular federal income tax, consistent with the preservation of capital. The fund, which will also seek to maintain its portfolio so that the common shares will be exempt from the Florida intangible personal property tax, will invest in a portfolio of investment grade (Aaa-Moody's/AAA-S&P) Florida Municipal Obligations which Voyageur believes does not involve undue risk to income or principal. The fund may also invest up to 20 percent of its assets in uninsured Florida Municipal Obligations determined by Voyageur to be of comparable quality.
 The American Stock Exchange is committed to becoming the recognized, premier marketplace for growth companies and derivative securities. By responding to listed company needs and initiating quality services, the Amex finds innovative ways to add value to the expanding community of companies and investors it serves.
 -0- 2/19/93
 /CONTACT: Paul Nobile, manager, Equities Communications of Amex, 212-306-2028/
 (VMM VFL VAZ)


CO: Voyageur Fund Managers ST: Minnesota IN: FIN SU:

PS -- NY038 -- 8407 02/19/93 12:53 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 19, 1993
Words:411
Previous Article:DUFF & PHELPS: NATIONSBANK CORPORATION CREDIT RATINGS REAFFIRMED
Next Article:DATA RACE: COURT ENTERS PRELIMINARY INJUNCTION
Topics:


Related Articles
NUVEEN EXCHANGE-TRADED FUNDS DECLARE TAX-FREE DIVIDENDS
NUVEEN EXCHANGE-TRADED FUNDS DECLARE TAX-FREE DIVIDENDS
PUTNAM CALIFORNIA INVESTMENT GRADE MUNICIPAL TRUST COMMENCES TRADING OF THE AMERICAN STOCK EXCHANGE IN INITIAL PUBLIC OFFERING
PUTNAM NEW YORK INVESTMENT GRADE MUNICIPAL TRUST LISTS ON THE AMERICAN STOCK EXCHANGE
NUVEEN GEORGIA PREMIUM INCOME MUNICIPAL FUND AND NUVEEN MISSOURI PREMIUM INCOME MUNICIPAL FUND LIST ON THE AMERICAN STOCK EXCHANGE
MINNESOTA MUNICIPAL INCOME PORTFOLIO INC. LISTS ON THE AMERICAN STOCK EXCHANGE
FIVE NEW NUVEEN FUNDS LIST ON THE AMERICAN STOCK EXCHANGE
VOYAGEUR COLORADO INSURED MUNICIPAL INCOME FUND, INC. IPO TRADES ON THE AMERICAN STOCK EXCHANGE
THREE NEW NUVEEN FUNDS LIST ON THE AMERICAN STOCK EXCHANGE
VOYAGEUR FUNDS LAUNCHES FIRST DOUBLE TAX EXEMPT MUTUAL FUND FOR IOWA RESIDENTS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters