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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
 

TAXABLE FUNDS

Nuveen Global Income and Currency Fund GCF Andrew Stenwall Timothy Palmer
Wassim Abourjelli
Manuel Labrinos
 
Nuveen Multi-Currency Short-Term Government Income Fund JGT Andrew Stenwall Timothy Palmer
Wassim Abourjelli Naomi Lynch
Manuel Labrinos
 
Nuveen Global Government Enhanced Income Fund JGG Andrew Stenwall Timothy Palmer
Wassim Abourjelli Naomi Lynch
Manuel Labrinos

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, CFA

Paul 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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