RiverNorth Flexible Municipal Income Fund II, Inc. (RFMZ)

Profile

RiverNorth Flexible Duration Municipal Income Fund II, Inc. is a closed-end fund primarily focused on providing current income that is exempt from regular U.S. federal income taxes. The fund achieves this objective by investing in a diversified portfolio of municipal securities, leveraging a flexible mandate to manage duration and optimize income potential in fluctuating interest rate environments. It employs a variety of income-seeking strategies, including the use of tender option bond issuers, while maintaining strict limits to manage risk exposure—a single tender option bond issuer cannot represent more than 5% of managed assets. The fund is notable for its finite lifespan, with termination planned on or before February 26, 2036, subject to limited board-approved extensions in response to market conditions. An innovative feature is its potential to conduct tender offers near termination, allowing shareholders to sell shares at net asset value, depending on fund asset thresholds. RiverNorth Flexible Duration Municipal Income Fund II, Inc. plays a distinct role in the municipal bond sector by offering investors targeted tax-exempt income and active portfolio management across the municipal market.