Friday's story about Investment Grade Municipal Income Fund Inc. mischaracterized a proposal that failed to command enough shareholder votes. The proposal was for a new management contract with UBS Global Asset Management as adviser, not to renew the existing contract. The fund's board has the right to retain UBS as adviser even if the proposal to modify the contract failed.
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In the wake of Citi's and UBS's exit from the municipal industry, other firms are seizing the opportunity to expand with new hires.
5m ago -
A supply surge hits the market as The Bond Buyer 30-day visible bond volume ticks in at $17.67 billion, $10 billion of which will come the first full week of May, just as macroeconomic data moves all markets to rally.
May 3 -
The latest revision of Oklahoma's fossil fuel "boycotter" list added Barclays, which joins three other municipal bond underwriters placed there last year.
May 3 -
Hawaii Gov. Josh Green's last-minute attempt to resuscitate a bill that would have allowed Hawaii Electric Co. to issue debt, backed by a rate increase, failed.
May 3 -
The Oversight Board has given the local government until Tuesday to introduce a bill to revoke or amend a law that would reduce the Puerto Rico Electric Power Authority's revenues.
May 3 -
Assured's controlling vote is "important to investors who were reassured to hear that there would be a large sophisticated party with a significant economic interest in the success of the project," the insurer said.
May 3