Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

MassMutual Income Investors Inc. - Lehman Brothers Collection

MassMutual Income Investors Inc.

List of Deals

MassMutual Income Investors was a closed-end investment trust created in 1972 in Massachusetts by the Massachusetts Mutual Life Insurance Company. The insurance company continued to serve as the investment advisor to the trust after it was created.

The trust went public in December 1972 with an initial public offering of stock at $15 per share that raised a total of $135.6 million.

The trust had as its primary investment objective the goal of seeking a high level of current income through a diversified portfolio in which marketable securities of high quality would predominate. The trust intended to engage in short-term trading of debt securities and also reserved the right to borrow additional funds to obtain investment leverage.

Approximately three months after beginning operations, the trust began making distributions to shareholders of all net investment income on a monthly basis. It also intended to make annual distributions of substantially all of the excess of its net realized long-term capital gains, if any, over its net realized short-term capital losses.

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