abrdn National Municipal Income Fund
VFL
New York Stock Exchange American- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- John McCarthy Jr.
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 2005 Market Street Philadelphia PA United States of America 19103-7094
- IPO Date
- Feb 19, 1993
- CIK
- 0000895574
- Website
- abrdnvfl.com
- Similar Companies
- Business
- abrdn National Municipal Income Fund (NYSE American: VFL) is a closed-end management investment company that seeks to provide current income exempt from regular federal income tax, consistent with the preservation of capital. The Fund invests substantially all (at least 80%) of its net assets in Municipal Obligations, comprising debt obligations issued by or on behalf of states, territories, agencies, instrumentalities, municipalities, and political subdivisions whose interest is excludable from gross income for federal income taxation; these include general obligation bonds, revenue bonds, and other municipal securities across investment-grade and select below-investment-grade categories, employing bottom-up credit research and sector allocation strategies. The Fund benchmarks its performance against the Bloomberg Municipal Bond Index and the Lipper CEF General & Insured Municipal Debt Funds (Leveraged) Average, targeting retail and institutional investors seeking tax-efficient fixed income exposure with monthly distributions. Organized as a Massachusetts business trust and domiciled in the United States, the Fund was formed on February 26, 1993, with headquarters at 1900 Market Street, Suite 200, Philadelphia, Pennsylvania 19103; it operates under the investment advisory oversight of abrdn Inc., with a portfolio management team including Jake van Roden, Miguel Laranjeiro, Jonathan Mondillo, Gregory A. Gizzi, and Stephen J. Czepiel. The Fund focuses on the U.S. municipal bond market, diversifying across sectors for yield optimization and risk management while pursuing a consistent distribution policy that saw a 10% increase approved by the Board in September 2024. In December 2025, the Board of Trustees approved a proposed reorganization of VFL into MFS Municipal Income Trust (NYSE: MFM), the Surviving Fund, pending shareholder approval at a special meeting tentatively scheduled for March 11, 2026, with closing expected in Q2 2026; this strategic transaction aims to create a larger, more efficient combined entity with greater economic scale, increased trading volume to potentially narrow discounts to net asset value, and a targeted 6% annual distribution rate based on the Surviving Fund's net asset value. Upon completion, the Surviving Fund intends to appoint abrdn Inc. as investment adviser, adopt a new board comprising incumbent VFL trustees plus one additional independent trustee, and change its name to Aberdeen Municipal Income Fund. No other major acquisitions, partnerships, funding rounds, or product launches have been reported in the last 1-2 years.