Guggenheim announces new Guggenheim Municipal Income Fund

By Tali David

Minneapolis, Jan. 25 - Guggenheim Investments is launching a new open-end mutual fund, the Guggenheim Municipal Income Fund, according to a press release.

The fund seeks to provide current income, with an emphasis on income exempt from federal income tax, while also targeting capital appreciation. The fund invests in a diversified portfolio of primarily investment-grade municipal securities whose interest is exempt from federal income tax.

Guggenheim said the fund is the latest addition to its recently expanded suite of fixed-income mutual funds that provide access to the firm's institutional strategies and investment capabilities. The fund's class A, class C and institutional class shares will trade under the symbols "GIJAX," "GIJCX" and "GIJIX," respectively.

The portfolio managers will be Scott Minerd, chief investment officer for Guggenheim, Anne Walsh, a senior managing director, and James Pass, a managing director.

The fund's investment adviser is Santa Monica, Calif.-based Guggenheim Partners Asset Management, LLC.

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