abrdn Ultra Short Municipal Income Fund Q1 2025 Commentary

2025-06-03 08:05:00 ET

Summary

• The abrdn Ultra Short Municipal Income Fund returned 0.75% for the first quarter, underperforming the 1.05% return of its benchmark, the Bloomberg Barclays Municipal Bond 1 Year (1-2) Index.
• During the quarter, the Fund’s exposures to other revenue and industrial and pollution control revenue bonds weighed on performance relative to the benchmark.
• During the quarter, we focused on maintaining the Fund’s duration through investments in short-term bonds and variable-rate securities.

Fund performance

The abrdn Ultra Short Municipal Income Fund (Institutional class shares, net of fees) returned 0.75% for the first quarter, underperforming the 1.05% return of its benchmark, the Bloomberg Barclays Municipal Bond 1 Year (1-2) Index.[1]...

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