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.