Guggenheim Investments, the investment management division of Guggenheim Partners, announced a new open-end mutual fund offering: Guggenheim Municipal Income Fund. The fund is the latest addition to the company’s recently expanded suite of fixed-income mutual funds, which provide access to the firm’s institutional strategies and investment capabilities.
The Guggenheim Municipal Income Fund looks to provide current income, with an emphasis on income exempt from federal income tax, while also considering capital appreciation. The fund invests in a diversified portfolio of primarily investment-grade municipal securities whose interest is exempt from federal income tax.
With over $78 billion in fixed-income assets, Guggenheim draws on a stable of dedicated resources—and more than 100 industry professionals—that allows the company access to a wide range of investments.
“We have designed an approach to the municipal market that leverages the strengths of our hallmark investment process research-intensive security selection by sector specialists and portfolio managers,” said Scott Minerd, chief investment officer for Guggenheim. “We are pleased to now offer all investors access to our approach in a tax-exempt municipal bond fund.”
Minerd, who has been with the organization for over 12 years and guides the investment strategies of the portfolio management and research divisions, is part of a team that has over 75 years of combined industry experience.
Anne Walsh, senior managing director with 27 years of industry experience, and James Pass, MD with 25 years of experience, also manage the fund.
“Our comprehensive credit approach to municipal investing allows us, we believe, to identify tax-exempt securities with the potential to provide higher income and capital appreciation,” stated Pass. “Our relationships with issuers, both large and small, and other municipal market participants, enhance our investment approach as well. We are excited to offer this fund and believe it offers sound value to a diversified fixed income portfolio.”