Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced the Board of Trustees of certain Nuveen single-state municipal bond closed-end funds approved a series of mergers. The mergers are subject to customary conditions, including shareholder approval at the funds’ regular shareholder meeting later this year. The mergers in each of the three respective states are intended to create a single, larger state fund with lower operating expenses and increased trading volume on the exchange for its common shares.
More information on the proposed mergers will be contained in the proxy materials expected to be filed in the coming weeks. The proposed fund mergers are:
|Acquired Fund||Symbol||Acquiring Fund||Symbol|
-- Nuveen Arizona Dividend Advantage Municipal Fund
|NFZ||Nuveen Arizona Premium Income Municipal Fund, Inc.||NAZ|
|-- Nuveen Arizona Dividend Advantage Municipal Fund 2||NKR|
|-- Nuveen Arizona Dividend Advantage Municipal Fund 3||NXE|
|-- Nuveen Michigan Premium Income Municipal Fund, Inc.||NMP||Michigan Quality Income Municipal Fund, Inc.||NUM|
|-- Nuveen Michigan Dividend Advantage Municipal Fund||NZW|
|-- Nuveen Ohio Dividend Advantage Municipal Fund||NXI||Nuveen||NUO|
|-- Nuveen Ohio Dividend Advantage Municipal Fund 2||NBJ||Ohio Quality Income Municipal Fund, Inc.|
|-- Nuveen Ohio Dividend Advantage Municipal Fund 3||NVJ|
More information on these and other Nuveen closed-end funds is posted on Nuveen’s web site at www.nuveen.com/cef.
Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutional and individual investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates—Nuveen Asset Management, Symphony Asset Management, NWQ Investment Management Company, Santa Barbara Asset Management, Tradewinds Global Investors, Winslow Capital Management, and Gresham Investment Management. In total, Nuveen Investments managed approximately $230 billion as of January 31, 2012. For more information, please visit the Nuveen Investments website at www.nuveen.com.
FORWARD LOOKING STATEMENTS
Certain statements made in this release are forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to:
o market developments;
o legal and regulatory developments; and
o other additional risks and uncertainties.
Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statements.
The Annual and Semi-Annual Reports and other regulatory filings of the Nuveen closed-end funds with the Securities and Exchange Commission ("SEC") are accessible on the SEC's web site at www.sec.gov and on Nuveen`s web site at www.nuveen.com and may discuss the above-mentioned or other factors that affect the Nuveen closed-end funds. The information contained on our web site is not a part of this press release.
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