Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced shareholder approval of revised investment policies that will go into effect today for the Nuveen Insured Massachusetts Tax-Free Advantage Municipal Fund (AMEX: NGX).
As previously announced on October 31, 2011, the fund’s Board of Trustees recommended changes to NGX’s investment policies intended to increase the fund’s flexibility regarding the types of securities available for investment.
The changes provide that:
- The 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.
- The fund will continue to invest substantially all (at least 80 percent) of its managed assets in investment grade quality municipal securities.
Reflecting its new investment strategy, the fund will change its name to Nuveen Massachusetts AMT-Free Municipal Income Fund, effective May 24, 2012, but the ticker will remain NGX.More information on this 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.