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Today, Delaware Investments National Municipal Income Fund (the "Fund"), a New York Stock Exchange American-listed closed-end fund trading under the symbol "VFL", announced that its Board of Trustees (the "Board") approved a new investment management agreement with abrdn Inc. and the nomination of four new trustees who are currently trustees of existing abrdn funds (collectively, the "abrdn fund adoption"), subject to the conditions discussed below.
The Fund's investment objective and principal investment policies will not change as a result of the proposed change in investment manager to abrdn Inc., an experienced manager of US registered closed-end funds and municipal bond funds.
It is currently expected that the abrdn fund adoption will be completed in the second quarter of 2023 subject to (i) Fund shareholder approval of the new investment management agreement with abrdn Inc., (ii) Fund shareholder election of four trustees for the Fund, constituting a new Fund board of trustees, each to take office only if the investment management agreement proposal is approved by Fund shareholders and upon the resignation of the current trustees of the Fund, and (iii) the satisfaction of customary closing conditions.
Delaware Management Company, a series of Macquarie Investment Management Business Trust, is currently the investment manager of the Fund.
The initial proxy statement describing these shareholder proposals in further detail has been filed with the US Securities and Exchange Commission (the "SEC") today, but will not be distributed to shareholders of the Fund unless and until the proxy statement is declared effective by the SEC and a "definitive Proxy Statement" is filed.
This press release is not intended to be, and does not constitute, an offer to purchase or sell shares of the Fund nor is this press release intended to solicit a proxy from any shareholder of the Fund. The solicitation of proxies to effect the abrdn fund adoption will only be made by a definitive Proxy Statement of the Fund.
SHAREHOLDERS OF THE FUND ARE URGED TO READ CAREFULLY THE DEFINITIVE PROXY STATEMENT AND OTHER DOCUMENTS IN THEIR ENTIRETY WHEN THEY ARE FILED WITH THE SEC AND BECOME AVAILABLE BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE ABRDN FUND ADOPTION.
The proxy statement will not constitute an offer to buy or sell securities, in any state where such offer or sale is not permitted.
About the Fund
Posted In: VFL
