DWS Municipal Income Trust filings document governance and shareholder-voting matters for a closed-end municipal income fund. The fund's proxy materials cover annual meeting procedures, trustee election proposals, Board structure, and the voting rights of common and preferred shareholders.
Regulatory disclosures also frame the fund's public-company and fund-specific context, including closed-end share structure, municipal bond investment risks, leverage and derivatives considerations, net asset value trading dynamics, distributions, and tax-exempt income treatment.
DWS Municipal Income Trust (KTF) is soliciting proxies for its annual meeting on September 19, 2025 at 1:00 p.m. ET in Boston. Holders of record as of August 1, 2025 may vote. The meeting will elect one Class II trustee (nominated: Catherine Schrand) by common and preferred shareholders voting together, and two trustees (nominated: Keith R. Fox and Chad D. Perry) to be elected solely by preferred shareholders.
The Board has approved termination of the Fund and a liquidating distribution to shareholders to be made no later than November 30, 2026; nominees elected at the meeting will serve until the Fund's termination. As of the record date the Fund had 39,172,837.98 common shares outstanding and 3,800 preferred shares. Major known holders include Sit Investment Associates (9,442,267 common; 24.1%) and Karpus Investment Management (2,325,849 common; 5.94%); JPMorgan Chase Bank holds all 3,800 preferred shares (100%).
The meeting requires a quorum of 30% of shares outstanding and trustees are elected by plurality. The Fund's independent registered public accounting firm is Ernst & Young LLP, with audit fees to the Fund of $54,731 for fiscal 2024 and total non-audit fees related to the Fund and related DIMA entities of $635,835.
Schedule 13D/A Amendment No. 10 filed on 06/30/2025 discloses that Sit Investment Associates, Inc. (SIA) and its affiliate Sit Fixed Income Advisors II, LLC (SFI) jointly report beneficial ownership of 9,442,267 common shares of DWS Municipal Income Trust (NYSE: KTF). The filing date of the reportable event is 06/27/2025.
Based on the issuer’s 39,172,838 shares outstanding as of 11/30/2024, the Sit entities’ position represents 24.1 % of the fund’s outstanding shares. Both entities disclose shared voting and dispositive power over the entire stake; no sole voting or dispositive power is reported. Shares are held in client accounts, and neither SIA nor SFI’s directors or officers hold KTF shares directly.
The amendment updates the original Schedule 13D first filed on 10/06/2023 and subsequently amended nine times. Other than the current ownership figures and confirmation of shared control, no further changes to the previously filed disclosure items are noted. A schedule of transactions executed in the last 60 days is provided in Exhibit A (details not included in the excerpt).
- Reporting Persons: Sit Investment Associates, Inc.; Sit Fixed Income Advisors II, LLC
- Stake: 9,442,267 shares; 24.1 % of class
- Voting/Dispositive Power: Shared for entire stake; none held solely
- Source of Funds: “OO” (other) – client accounts
- Filings Referenced: Original 13D plus Amendments 1-9 filed between 11/06/2023 and 01/14/2025
No legal proceedings, additional agreements, or going-forward plans are described in the excerpt. Certification is signed by Roger J. Sit, Chairman & CEO of both reporting entities.