Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, announced that revised investment policies took effect today for 12 insured closed-end municipal bond funds.
As previously announced on October 31, 2011, the funds’ Board of Trustees approved changes to each fund’s investment policies intended to increase the fund’s flexibility regarding the types of securities available for investment.
The changes provide that:
- 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 guaranteeing 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.
In connection with the changes in policy, each fund has changed its name as follows:
|Previous Fund Name||Ticker Symbol (remains unchanged)||New Fund Name|
|Nuveen Insured Quality Municipal Fund, Inc.||NQI||Nuveen Quality Municipal Fund, Inc.|
|Nuveen Insured Municipal Opportunity Fund, Inc.||NIO||Nuveen Municipal Opportunity Fund, Inc.|
|Nuveen Premier Insured Municipal Income Fund, Inc.||NIF||Nuveen Premier Municipal Opportunity Fund, Inc.|
|Nuveen Insured Premium Income Municipal Fund 2||NPX||Nuveen Premium Income Municipal Opportunity Fund|
|Nuveen Insured Dividend Advantage Municipal Fund||NVG||Nuveen Dividend Advantage Municipal Income Fund|
|Nuveen Insured Tax-Free Advantage Municipal Fund||NEA||Nuveen AMT-Free Municipal Income Fund|
|Nuveen New York Quality Income Municipal Fund, Inc.||NUN||Nuveen New York Quality Income Municipal Fund, Inc.|
|Nuveen Insured New York Premium Income Municipal Fund, Inc.||NNF||Nuveen New York Premium Income Municipal Fund, Inc.|
|Nuveen New York Investment Quality Municipal Fund, Inc.||NQN||Nuveen New York Investment Quality Municipal Fund, Inc.|
|Nuveen New York Select Quality Municipal Fund, Inc.||NVN||Nuveen New York Select Quality Municipal Fund, Inc.|
|Nuveen Insured New York Dividend Advantage Municipal Fund||NKO||Nuveen New York Dividend Advantage Municipal Income Fund|
|Nuveen Insured New York Tax-Free Advantage Municipal Fund||NRK||Nuveen New York AMT-Free Municipal Income Fund|
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