Institutional Shareholder Services, Inc. and Glass, Lewis & Co Supports the BlackRock Muni New York
July 09, 2019 at 03:14 pm EDT
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On July 9, 2019, Institutional Shareholder Services, Inc. (‘ISS’) and Glass, Lewis & Co. (‘Glass Lewis’) announced that they have released their reports on the upcoming shareholder meeting of BlackRock Muni New York Intermediate Duration Fund, Inc. (the ‘Fund’), which is scheduled to take place on, July 18, 2019. Both ISS and Glass Lewis recommended that shareholders vote for the incumbent Board-approved nominees and against a shareholder proposal seeking a tender offer for all of the Fund’s shares and the potential to liquidate or open-end the Fund on its proxy card.
BlackRock Muni New York Intermediate Duration Fund, Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fund's investment objective is to provide shareholders with high current income exempt from federal income tax and New York State and New York City personal income taxes. The Fund seeks to invest at least 80% of its assets in municipal obligations exempt from federal income tax (except that the interest may be subject to the federal alternative minimum tax) and New York State and New York City personal income taxes. Under normal market conditions, it invests at least 75% of its assets in municipal obligations that are investment-grade quality at the time of investment. Under normal market conditions, it invests at least 80% of its assets in municipal obligations with a duration of 3 to 10 years. The Fund may invest directly in such securities or synthetically through the use of derivatives. The Fund's investment manager is BlackRock Advisors, LLC.
BLACKROCK MUNI NEW YORK INTERMEDIATE DURATION FUND, INC. 
