Several Nuveen Closed-End Funds Announce Updated Portfolio Manager Teams
Nuveen Investments, a leading global provider of investment services to institutions as well as high-net-worth and affluent investors, today announced changes to the portfolio management responsibilities for several Nuveen closed-end funds, effective as of January 1, 2011. These changes are taking place as a result of the completion on December 31, 2010, of the strategic combination of FAF Advisors and Nuveen Asset Management, the largest investment affiliate of Nuveen Investments. As part of this transaction, Nuveen Investments acquired the approximately $27 billion long-term investment business of FAF Advisors, including investment management responsibilities for the long-term mutual funds of the First American Funds family. In addition, the investment professionals managing these assets and most other key personnel, have become part of Nuveen Asset Management.
As a result of this new combination, Nuveen Asset Management is capitalizing on its collective and complementary strength to strategically realign portfolio manager responsibilities across a number of the funds its investment teams manage, to better position the funds for future growth. Following below is a complete list of those closed-end funds that are announcing a change in its portfolio management as well biographies for the funds’ new portfolio managers.
|CLOSED-END FUND NAME||Ticker||Previous Manager||New Manager|
|TAX FREE BOND FUNDS|
|Nuveen Premier Municipal Income Fund||NPF||Paul Brennan||Dan Close|
|Nuveen Premium Income Municipal Fund 4||NPT||John Wilhelm||Chris Drahn|
|Nuveen Insured Premium Income Municipal Fund 2||NPX||Paul Brennan||Doug White|
|Nuveen Insured Quality Municipal Fund||NQI||Paul Brennan||Doug White|
|Nuveen Investment Quality Municipal Fund||NQM||John Wilhelm||Chris Drahn|
|Nuveen Municipal Income Fund||NMI||Paul Brennan||Chris Drahn|
|STATE SPECIFIC FUNDS|
|Nuveen Arizona Premium Income Muni Fund||NAZ||Scott Romans||Michael Hamilton|
|Nuveen Connecticut Dividend Advantage Municipal Fund||NFC||Cathryn Steeves||Michael Hamilton|
|Nuveen Maryland Dividend Advantage Municipal Fund||NFM||Cathryn Steeves||Tom Spalding|
|Nuveen Arizona Dividend Advantage Muni Fund||NFZ||Scott Romans||Michael Hamilton|
|Nuveen Virginia Dividend Advantage Municipal Fund||NGB||Cathryn Steeves||Tom Spalding|
|Nuveen Connecticut Dividend Advantage Municipal Fund 2||NGK||Cathryn Steeves||Michael Hamilton|
|Nuveen Connecticut Dividend Advantage Muni Fund 3||NGO||Cathryn Steeves||Michael Hamilton|
|Nuveen Insured MA Tax Free Adv Muni Fund||NGX||Cathryn Steeves||Michael Hamilton|
|Nuveen New Jersey Value Fund||NJV||Cathryn Steeves||Paul Brennan|
|Nuveen Arizona Dividend Advantage Municipal Fund 2||NKR||Scott Romans||Michael Hamilton|
|Nuveen Massachusetts Dividend Advantage Municipal Fund||NMB||Cathryn Steeves||Michael Hamilton|
|Nuveen Massachusetts Premium Income Municipal Fund||NMT||Cathryn Steeves||Michael Hamilton|
|Nuveen Maryland Premium Income Muni Fund||NMY||Cathryn Steeves||Tom Spalding|
|Nuveen Virginia Dividend Advantage Municipal Fund 2||NNB||Cathryn Steeves||Tom Spalding|
|Nuveen New Jersey Premium Income Municipal Fund||NNJ||Cathryn Steeves||Paul Brennan|
|Nuveen Missouri Premium Income Municipal Fund||NOM||Scott Romans||Chris Drahn|
|Nuveen Pennsylvania Municipal Value Fund||NPN||Cathryn Steeves||Paul Brennan|
|Nuveen Virginia Premium Income Municipal Fund||NPV||Cathryn Steeves||Tom Spalding|
|Nuveen Pennsylvania Premium Income Municipal Fund 2||NPY||Cathryn Steeves||Paul Brennan|
|Nuveen New Jersey Investment Quality Municipal Fund||NQJ||Cathryn Steeves||Paul Brennan|
|Nuveen Pennsylvania Investment Quality Municipal Fund||NQP||Cathryn Steeves||Paul Brennan|
|Nuveen Connecticut Premium Income Municipal Fund||NTC||Cathryn Steeves||Michael Hamilton|
|Nuveen New Jersey Dividend Advantage Municipal Fund 2||NUJ||Cathryn Steeves||Paul Brennan|
|Nuveen Pennsylvania Dividend Advantage Municipal Fund||NVY||Cathryn Steeves||Paul Brennan|
|Nuveen Maryland Dividend Advantage Muni Fund 3||NWI||Cathryn Steeves||Tom Spalding|
|Nuveen Arizona Dividend Advantage Muni Fund 3||NXE||Scott Romans||Michael Hamilton|
|Nuveen New Jersey Dividend Advantage Municipal Fund||NXJ||Cathryn Steeves||Paul Brennan|
|Nuveen Pennsylvania Dividend Advantage Municipal Fund||NXM||Cathryn Steeves||Paul Brennan|
|Nuveen Maryland Dividend Advantage Municipal Fund 2||NZR||Cathryn Steeves||Tom Spalding|
|Nuveen Global Income and Currency Fund||GCF||Andrew Stenwall||Timothy Palmer|
|Nuveen Multi-Currency Short-Term Government Income Fund||JGT||Andrew Stenwall||Timothy Palmer|
|Wassim Abourjelli||Naomi Lynch|
|Nuveen Global Government Enhanced Income Fund||JGG||Andrew Stenwall||Timothy Palmer|
|Wassim Abourjelli||Naomi Lynch|
Note: The transaction results in subsidiaries of Nuveen Investments assuming investment management responsibilities for each of the former First American Funds, other than money market funds, and serving as sub-adviser to the First American closed-end funds.
Paul Brennan, CFAPaul manages several Nuveen municipal national and state mutual funds and closed-end bond funds. Paul began his career in the investment business in 1991, as a municipal credit analyst for Flagship Financial, before becoming a portfolio manager in 1994. He joined Nuveen Investments in 1997, when Nuveen acquired Flagship Financial that year. He earned his B.S. in Accountancy and Finance from Wright State University. He is a CPA, has earned the Chartered Financial Analyst (CFA) designation, and currently sits on the Nuveen Asset Management Investment Management Committee. Brennan replaces the fund’s previously named portfolio manager, who remains with Nuveen Asset Management.
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