N@N

MZF Declares Monthly Distributions for November and December 2010

^{Published on 2010-11-02 06:31:30 - Market Wire}
 

LISLE, Ill.--([ BUSINESS WIRE ])--(NYSE: [ MZF ]) [ Managed Duration Investment Grade Municipal Fund ], a closed-end management investment company, announced that it is declaring its November and December 2010 distributions of $0.0825 per common share. These distributions represent an annualized distribution rate of 6.60% based upon the closing market price of $15.00 on October 29, 2010.

The Funda™s taxable equivalent distribution rate on closing market price, as of October 29, 2010, is 10.15%. The taxable equivalent distribution rate is calculated by taking the current distribution rate and dividing it by one minus the highest federal marginal tax bracket, which is currently at 35%.

The aforementioned returns assume reinvestment of dividends. Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. The investment return and principal value of an investment will fluctuate with changes in market conditions and other factors so that an investor's shares, when sold, may be worth more or less than their original cost. All returns for periods longer than one year are annualized. The Barclays Municipal Bond Index is a rules-based, market-value-weighted index engineered for the long-term tax-exempt bond market. To be included in the index, bonds must be rated investment-grade (Baa3/BBB- or higher) by at least two of the following ratings agencies: Moodya™s, S&P, Fitch.

The November 2010 dividend will be paid on November 30, 2010 to shareholders of record as of November 15, 2010 with an ex-dividend date of November 10, 2010. The December 2010 dividend will be paid on December 31, 2010 to shareholders of record as of December 15, 2010 with an ex-dividend date of December 13, 2010. If it is determined that a notification is required, pursuant to Section 19(a) of the Investment Company Act of 1940, as amended, such notice will be posted to the Funda™s website after the close of business three business days prior to the payable date.

Cutwater Asset Management Corp. (aCutwatera) serves as the Funda™s investment adviser. Based in Armonk, New York, Cutwater, formerly known as MBIA Capital Asset Management Corporation, was created in 1991 to provide fixed-income investment products and services to institutional and retail clients.The firm specializes in the management of fixed-income securities and provides expertise in investment-grade municipal bond investing. Cutwater is a wholly-owned subsidiary of MBIA, Inc., which is listed on the New York Stock Exchange and is a component stock of the S&P 500 Index. Additional information can be found at [ www.cutwater.com ].

Claymore Securities, Inc. has changed its name to Guggenheim Funds Distributors, Inc. The change marks the next phase of business integration following the acquisition of Claymore by Guggenheim Partners, LLC, (aGuggenheim Fundsa) announced on October 15, 2009. The Guggenheim Funds business will continue to support the current product lineup of exchange-traded funds (ETFs), unit investment trusts (UITs) and closed-end funds (CEFs), with their respective strategies and investment policies remaining unchanged.

Guggenheim Funds Distributors, Inc., the Funda™s servicing agent, and its affiliates (together, aGuggenheim Fundsa) offers strategic investment solutions for financial advisors and their valued clients. As an innovator in exchange-traded funds (ETFs), unit investment trusts (UITs) and closed-end funds (CEFs), Guggenheim Funds often leads its peers with creative investment strategy solutions. Guggenheim Funds and its affiliates provide supervision, management or servicing of assets with a commitment to consistently delivering exceptional service. Guggenheim Funds is a wholly-owned subsidiary of Guggenheim Partners, a global, diversified financial services firm with more than $100 billion in assets under supervision. Guggenheim Partners, through its affiliates, provides investment management, investment advisory, insurance, investment banking, and capital markets services. The firm is headquartered in Chicago and New York with a global network of offices throughout the United States, Europe, and Asia.

This information does not represent an offer to sell securities of the Fund and it is not soliciting an offer to buy securities of the Fund. There can be no assurance that the Fund will achieve its investment objectives. The net asset value of the Fund will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value. Past performance is not indicative of future performance. An investment in the Fund is subject to certain risks and other considerations. Such risks and considerations include, but are not limited to: Liquidity and Market Price of Shares Risk; Market Risk and Selection Risk; Municipal Bond Market Risk; Interest Rate and Credit Risk; Call and Redemption Risk; Private Activity Bonds Risk; Risks of Tobacco-Related Municipal Bonds; Leverage Risk; Inflation Risk; Auction-Market Preferred Shares Risk; Portfolio Strategies Risk; Derivatives Risk; Affiliated Insurers Risk; Anti-Takeover Provisions; and Market Disruption.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Fund carefully before they invest. For this and more information, please contact a securities representative or Guggenheim Funds Distributors, Inc., 2455 Corporate West Drive, Lisle, Illinois 60532, 800-345-7999.

Member FINRA/SIPC (11/10)

NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE