RiverNorth Managed Duration Municipal Income Fund Inc (RMM) - Net Assets
Based on the latest financial reports, RiverNorth Managed Duration Municipal Income Fund Inc (RMM) has net assets worth $290.50 Million USD as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($480.49 Million) and total liabilities ($189.99 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Read total liabilities of RiverNorth Managed Duration Municipal In for a breakdown of total debt and financial obligations.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $290.50 Million |
| % of Total Assets | 60.46% |
| Annual Growth Rate | -4.16% |
| 5-Year Change | -28.59% |
| 10-Year Change | N/A |
| Growth Volatility | 11.33 |
RiverNorth Managed Duration Municipal Income Fund Inc - Net Assets Trend (2019–2024)
This chart illustrates how RiverNorth Managed Duration Municipal Income Fund Inc's net assets have evolved over time, based on quarterly financial data. Also explore RMM total asset value for the complete picture of this company's asset base.
Annual Net Assets for RiverNorth Managed Duration Municipal Income Fund Inc (2019–2024)
The table below shows the annual net assets of RiverNorth Managed Duration Municipal Income Fund Inc from 2019 to 2024. For live valuation and market cap data, see RiverNorth Managed Duration Municipal In (RMM) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $290.50 Million | -10.59% |
| 2023-12-31 | $324.93 Million | +1.13% |
| 2022-12-31 | $321.30 Million | -0.85% |
| 2021-12-31 | $324.06 Million | -20.34% |
| 2020-12-31 | $406.81 Million | +13.20% |
| 2019-12-31 | $359.37 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to RiverNorth Managed Duration Municipal Income Fund Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 1286512900.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $327.30 Million | 112.67% |
| Total Equity | $290.50 Million | 100.00% |
RiverNorth Managed Duration Municipal Income Fund Inc Competitors by Market Cap
The table below lists competitors of RiverNorth Managed Duration Municipal Income Fund Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Jiin Yeeh Ding Enterprise Co Ltd
TWO:8390
|
$277.38 Million |
|
Odfjell Technology Ltd
OL:OTL
|
$277.40 Million |
|
ProKidney Corp.
NASDAQ:PROK
|
$277.43 Million |
|
Can2 Termik AS
IS:CANTE
|
$277.50 Million |
|
Kiri Industries Limited
NSE:KIRIINDUS
|
$277.30 Million |
|
TruBridge Inc.
NASDAQ:TBRG
|
$277.27 Million |
|
Pure Cycle Corporation
NASDAQ:PCYO
|
$277.19 Million |
|
Beijing Bohui Science & Technology Co Ltd
SHG:688004
|
$277.05 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in RiverNorth Managed Duration Municipal Income Fund Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 324,926,772 to 290,500,976, a change of -34,425,796 (-10.6%).
- Net loss of 12,858,278 reduced equity.
- Dividend payments of 21,567,518 reduced retained earnings.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-12.86 Million | -4.43% |
| Dividends Paid | $21.57 Million | -7.42% |
| Total Change | $- | -10.59% |
Book Value vs Market Value Analysis
This analysis compares RiverNorth Managed Duration Municipal Income Fund Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.99x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.80x to 0.99x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | $18.21 | $14.54 | x |
| 2020-12-31 | $20.59 | $14.54 | x |
| 2021-12-31 | $16.39 | $14.54 | x |
| 2022-12-31 | $16.21 | $14.54 | x |
| 2023-12-31 | $16.39 | $14.54 | x |
| 2024-12-31 | $14.72 | $14.54 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently RiverNorth Managed Duration Municipal Income Fund Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -4.43%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.00%
- • Asset Turnover: -0.01x
- • Equity Multiplier: 1.65x
- Recent ROE (-4.43%) is below the historical average (0.44%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | -4.82% | -93.86% | 0.03x | 1.66x | $-53.26 Million |
| 2020 | 17.00% | 99.94% | 0.11x | 1.57x | $28.48 Million |
| 2021 | -18.79% | 0.00% | -0.11x | 1.78x | $-93.29 Million |
| 2022 | 5.92% | 99.60% | 0.04x | 1.70x | $-13.10 Million |
| 2023 | 7.78% | 99.34% | 0.05x | 1.63x | $-7.23 Million |
| 2024 | -4.43% | 0.00% | -0.01x | 1.65x | $-41.91 Million |
Industry Comparison
This section compares RiverNorth Managed Duration Municipal Income Fund Inc's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,190,644,204
- Average return on equity (ROE) among peers: 18.77%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| RiverNorth Managed Duration Municipal Income Fund Inc (RMM) | $290.50 Million | -4.82% | 0.65x | $277.34 Million |
| Acadian Asset Management Inc (AAMI) | $84.00 Million | 95.24% | 7.06x | $1.86 Billion |
| AllianceBernstein Holding L.P. (AB) | $1.60 Billion | 17.42% | 0.00x | $3.64 Billion |
| Associated Capital Group Inc (AC) | $964.38 Million | 0.92% | 0.04x | $78.56 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $190.80 Million | 139.32% | 0.02x | $265.69 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $8.56 Million | -137.00% | 1.03x | $194.14 Million |
| Alvarium Tiedemann Holdings Inc. (ALTI) | $75.99 Million | 5.18% | 0.76x | $385.27 Million |
| Affiliated Managers Group Inc (AMG) | $337.80 Million | 7.58% | 0.79x | $8.61 Billion |
| Ameriprise Financial Inc (AMP) | $7.29 Billion | 9.95% | 10.74x | $41.87 Billion |
| AMTD IDEA Group (AMTD) | $602.83 Million | 14.44% | 3.67x | $42.91 Million |
| Artisan Partners Asset Management Inc (APAM) | $749.92 Million | 34.64% | 1.16x | $2.67 Billion |
About RiverNorth Managed Duration Municipal Income Fund Inc
Rivernorth Managed Duration Municipal Income Fund Inc. is a closed ended fixed income mutual fund launched and managed by RiverNorth Capital Management, LLC. The fund is co-managed by MacKay Shields LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal debt securities. It seeks to invest in securities of any maturity. The fund e… Read more