Abrdn National Municipal Income Fund (NYSE: VFL) is a diversified closed-end management investment company focused on providing investors with a high level of current income exempt from federal income tax. Managed by abrdn US Inc., the fund primarily invests in a broad array of U.S. municipal securities, including general obligation and revenue bonds issued by states, municipalities and agencies. Through the use of moderate leverage, the fund seeks to enhance its income potential while maintaining a portfolio weighted toward investment-grade credits.
The fund’s investment strategy emphasizes rigorous credit research and sector diversification, with holdings spanning essential public finance sectors such as transportation, education, healthcare and utilities. While the portfolio typically maintains an emphasis on investment-grade bonds, the management team may opportunistically allocate a portion of assets to high-yield or unrated municipal issues in pursuit of incremental yield. Geographic diversification is a key component of the strategy, providing exposure to municipal issuers across the United States, including large states such as California, New York and Texas, as well as smaller local governments in emerging regions.
Abrdn National Municipal Income Fund was originally launched in the late 1980s and has since evolved under the stewardship of abrdn plc, a global asset manager headquartered in London. The fund benefits from abrdn’s extensive network of fixed income research analysts and credit specialists, drawing on resources across North America and Europe. Combined research capabilities enable a disciplined approach to credit selection, sector weighting and duration management, helping to navigate changing interest-rate environments and credit cycles.
Leadership of the fund resides with a seasoned team of municipal bond specialists at abrdn US Inc., led by senior portfolio managers with decades of experience in public finance. This team leverages abrdn’s proprietary credit models and a robust risk-management framework to monitor market developments and identify income-generating opportunities. The fund is designed for income-oriented investors seeking tax-efficient yield and the potential for capital preservation through broad municipal market exposure.
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