RFM - RiverNorth Flexible Municipal Income Fund

What this means for you

No investor has reported owning 5% or more of this fund. That is the normal state for most closed-end funds.

Nothing is required of you. If that changes, the notice appears here within a day of being filed with the regulator.

Email me if this changes

What happened, and when

1. May 21, 2025

   The fund said it may sell new shares.

   Original document →

2. March 31, 2025

   The fund said it may sell new shares.

   Original document →

3. Feb 20, 2025

   The fund said it may sell new shares.

   Original document →

4. Oct 23, 2024

   The fund said it may sell new shares.

   Original document →

About this fund

• Run by RiverNorth Capital Management, LLC. As of June 30, 2026, from the fund's yearly report. Original document →
• Size: about $98.1 million of holdings, as of June 30, 2026. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund does not borrow. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 2.3% a year in management fees; 4.5% a year in total, including interest on borrowed money. Fiscal year ended June 30, 2026. As of June 30, 2026, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended June 30, 2026) the fund paid $1.09 a share. $0.43 of that was income; $0.66 was your own money back, not income. As of June 30, 2026, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (June 30, 2026): $16.04. The shares traded at $14.78, about 7.9% below that. As of June 30, 2026, from the fund's yearly report. Original document →
  Over the last two years the gap ranged from 11.2% below to 5.5% below. As of June 30, 2026, from the fund's annual report. Original document →
• How the holdings did: up 7.3% over the last three months we have (April-June 2026), before the share price is taken into account. Over the last 12 months: +14.4%. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• How the share price did: the shares returned +14.4% over the last fiscal year (ended June 30, 2026), counting payouts and the change in the market price. As of June 30, 2026, from the fund's annual report. Original document →
• First reported to the regulator in 2019.

What the fund holds

Mostly tax-free municipal bonds (67%), the rest shares and cash and short-term holdings. About 97% issued in the U.S.

1. BlackRock MuniHoldings Fund, Inc. - 9.7%
2. BlackRock MuniYield Quality Fund, Inc. - 7.9%
3. Mansfield Tx Indep Sch Dist, Mansfield Independent School District - 7.6%
4. Port Auth Of New York & New Jersey Ny, Port Authority of New York & New Jersey - 5.4%
5. Chicago Il O'hare International Arpt Revenue, Chicago O'Hare International Airport - 5.4%
6. Kentucky Bond Dev Corp Indl Bldg Revenue, Kentucky Bond Development Corp. - 4.8%
7. Salt Lake City Ut Arpt Revenue, City of Salt Lake City UT Airport Revenue - 4.7%
8. Clark Cnty Nv Wtr Reclamation Dist, Clark County Water Reclamation District - 4.3%
9. Massachusetts St Transprtn Fund Revenue, Commonwealth of Massachusetts Transportation Fund Revenue - 4.3%
10. Gtr Asheville Regl Arpt Auth Nc Arpt Sys Revenue, Greater Asheville Regional Airport Authority - 4.3%

As of June 30, 2026, from the fund's quarterly holdings report. Original document →