PHILADELPHIA, July 13, 2026 /PRNewswire/ -- The reorganization of abrdn National Municipal Income Fund ("VFL") into Aberdeen Municipal Income Fund (NYSE; MFM) (the "Fund") was successfully completed prior to the opening of the New York Stock Exchange on July 13, 2026.
In the reorganization, VFL's common shareholders received an amount of MFM common shares with a net asset value equal to the aggregate net asset value of their holdings of VFL's common shares, as determined at the close of regular business on July 10, 2026.
- VFL common shareholders received 1.87521869 of a newly issued MFM common share for every 1 share of VFL that they had previously held.
Relevant details pertaining to the reorganization are as follows:
Acquiring Fund | Acquired Fund | Acquiring Fund NAV per Share ($) 07/10/2026 | Acquired Fund NAV per Share ($) 07/10/2026 | Conversion Ratio |
MFM | VFL | $6.0322 | $11.3116 | 1.87521869 |
There are no proposed changes to the current investment objective, strategies, structure, or policies of MFM because of the reorganization.
MFM has adopted a stable distribution policy ("SDP") under which the Fund intends to pay regular distributions at an annualized rate of 6.00% of MFM's net asset value as of June 5, 2026. Distributions under the SDP are expected to be derived primarily from current income and may be supplemented, if necessary, by net realized capital gains and a return of paid-in capital.
Shareholders of MFM, including prior VFL shareholders, will be eligible to receive the Fund's upcoming July distribution provided they continue to hold their shares through the applicable record date. On July 10, 2026, the Fund announced details of MFM's July distribution as noted below:
- Distribution amount: $0.0300 per share
- Record date: July 23, 2026
- Ex-dividend date: July 23, 2026
- Pay date: July 31, 2026
Important Information
Shares of closed-end funds are listed for trading on national securities exchanges and are bought and sold in the secondary market. The market price of a fund's shares is determined by supply and demand and may be greater than (a "premium") or less than (a "discount") the fund's net asset value (NAV). A fund's investment return and principal value will fluctuate, and investors may receive more or less than their original investment upon the sale of shares. There is no assurance that a fund will achieve its investment objective. Past performance is not indicative of future results.
The trading price of a closed-end fund's shares may be influenced by various factors, including market conditions, investor sentiment, and other external forces, and is not directly controlled by the fund, its Board of Directors, or its investment adviser. As a result, shares may trade at a premium to or discount from NAV at any given time. A premium to NAV may not be sustained, and a discount to NAV may increase or decrease over time. Investors should consider these risks when purchasing or selling closed-end fund shares.
Shareholders whose fund shares trade at a premium to NAV and who participate in the fund's dividend reinvestment plan should be aware that distributions may be reinvested at prices above NAV, which may adversely affect investment results.
About Aberdeen Investments
Aberdeen Investments Global is the trade name of Aberdeen's investments business, herein referred to as "Aberdeen Investments" or "Aberdeen". In the United States, Aberdeen Investments refers to the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited.
Aberdeen Investments is among the world's largest asset managers, with decades of experience overseeing closed-end funds dating back to the 1980s. As of March 31, 2026, the firm had approximately $506 billion in assets under management. Closed-end funds represent a core component of Aberdeen Investments' client franchise in both the U.S. and global markets. Aberdeen and its affiliates currently manage 27 closed-end funds - 15 available in the U.S. and 12 outside the U.S. - totaling $25.6 billion in assets as of March 31, 2026.
SOURCE Aberdeen Municipal Income Fund
