ASGI - abrdn National Municipal Income Fund Q1 2025 Commentary

2025-06-03 06:50:00 ET

Summary

• The abrdn National Municipal Income Fund returned -1.40% for the first quarter on a net asset value basis, underperforming the -0.22% return of its benchmark, the Bloomberg Municipal Bond Index.
• The Fund’s exposure to education revenue bonds, including Huntington General Authority bonds, weighed on performance.
• During the quarter, we looked for income generating opportunities, which we found in high-quality AA and non-investment grade issuers in credits with strong fundamentals that stand to benefit from macroeconomic tailwinds.

Fund performance

The abrdn National Municipal Income Fund returned -1.40% for the first quarter on a net asset value basis, underperforming the -0.22% return of its benchmark, the Bloomberg Municipal Bond Index.[1]...

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