- Each fund will eliminate the investment policy requiring it, under normal circumstances, to invest at least 80 percent of its managed assets in municipal securities that are covered by insurance which currently guarantees the timely payment of principal and interest.
- Each fund will continue to invest substantially all (at least 80 percent) of its managed assets in investment grade quality municipal securities.
- Nuveen Insured California Premium Income Municipal Fund, Inc. (NPC), Nuveen Insured California Premium Income Municipal Fund 2, Inc. (NCL) and Nuveen Insured California Dividend Advantage Municipal Fund (NKL) be reorganized into Nuveen Insured California Tax-Free Advantage Municipal Fund (NKX).
- Nuveen Insured California Tax-Free Advantage Municipal Fund (NKX) will change its name to Nuveen California AMT-Free Municipal Income Fund (NKX) upon shareholder approval of the investment policy changes.
Nuveen Announces Investment Policy Changes And Mergers For Insured California Municipal Closed-End Funds
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