Managed Duration Investment Grade Municipal Fund Announces Election of CEO Clifford Corso

Managed Duration Investment Grade Municipal Fund (the “Fund”)

announced today the election by the Fund's Board of Trustees of Mr. Clifford D. Corso as Chief Executive Officer. Mr. Corso, who currently also serves as an interested Trustee and President of the Fund, succeeds Mr. Kevin M. Robinson as Chief Executive Officer of the Fund. Mr. Robinson will remain the Chief Legal Officer of the Fund. Clifford D. Corso joined Cutwater Asset Management in 1994, establishing the company's asset management platform and building it into a significant fixed income manager. With a staff of 120 people, Mr. Corso now oversees the investment of $34.2 billion in assets as of June 30, 2012, and directs the investment strategies of Cutwater's clients, including pension funds, global banks, corporations, Taft Hartley and insurance companies as well as hundreds of municipalities across the United States. Prior to joining the firm, Mr. Corso served as senior portfolio manager and co-head of a fixed income division at Alliance Capital Management. In his twenty seven-year career, he has held positions as a credit analyst, restructuring specialist, trader and portfolio manager. He has managed a wide range of fixed income products, including corporate, asset-backed, government, mortgage, municipal, credit default swap and derivative securities. He has developed several unique conduit businesses including East-Fleet, a London based vehicle serving several global banks. He was also an early pioneer in the credit derivatives market, developing several investment programs starting in 2000, and expanding this area to create the MINTS funds, one of the most successful CDS funds ever created with over $1.6 billion in notional value under management.