Nuveen Investments, a leading global provider of investment services to
institutions as well as individual investors, today announced the Boards
of several Nuveen California municipal closed-end funds approved a
series of mergers. The mergers are subject to customary conditions,
including shareholder approval at annual shareholder meetings in early
2014. The mergers are intended to create two larger funds with lower
operating expenses and increased trading volume on the exchange for
common shares.
More information on the proposed mergers will be contained in the proxy
materials expected to be filed in the coming weeks. The proposed fund
mergers are as follows:
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Acquired Fund
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Symbol
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Acquiring Fund
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Symbol
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Nuveen California Performance Plus Municipal Fund, Inc.
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Nuveen California Municipal Market Opportunity Fund, Inc.
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Nuveen California Investment Quality Municipal Fund, Inc.
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Nuveen California Quality Income Municipal Fund, Inc.
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Nuveen California Select Quality Municipal Fund, Inc.
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NCP
NCO
NQC
NUC
NVC
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Nuveen California Dividend
Advantage Municipal Fund
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NAC
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Nuveen California Premium
Income Municipal Fund
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NCU
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Nuveen California AMT-Free
Municipal Income Fund
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NKX
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More information on these 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,
LLC, Symphony Asset Management LLC, NWQ Investment Management Company,
LLC, Santa Barbara Asset Management, LLC, Tradewinds Global Investors,
LLC, Winslow Capital Management, LLC and Gresham Investment Management
LLC, all of which are registered investment advisers and subsidiaries of
Nuveen Investments, Inc. Funds distributed by Nuveen Securities, LLC, a
subsidiary of Nuveen Investments, Inc. In total, Nuveen Investments
managed approximately $216 billion as of June 30, 2013. For more
information, please visit the Nuveen Investments website at www.nuveen.com.
FORWARD LOOKING STATEMENTS
Certain statements made in this release are forward-looking statements.
Actual future results or occurrences may differ significantly from those
anticipated in any forward-looking statements due to numerous factors.
These include, but are not limited to:
o market developments;
o legal and regulatory developments; and
o other additional risks and uncertainties.
Nuveen and the closed-end funds managed by Nuveen and its affiliates
undertake no responsibility to update publicly or revise any
forward-looking statements.
The Annual and Semi-Annual Reports and other regulatory filings of the
Nuveen closed-end funds with the Securities and Exchange Commission
("SEC") are accessible on the SEC's web site at www.sec.gov
and on Nuveen`s web site at www.nuveen.com
and may discuss the above-mentioned or other factors that affect the
Nuveen closed-end funds. The information contained on our web site is
not a part of this press release.
Nothing contained in this press release shall constitute an offer for
sale of any securities. A joint Proxy Statement/Prospectus relating to
each proposed reorganization will be filed with the SEC in the coming
weeks and will contain important information relating the
reorganization. Shareholders are urged to read each such joint Proxy
Statement/Prospectus carefully. After they are filed, free copies of the
Proxy Statement/Prospectuses will be available on the SEC's web site at www.sec.gov.
Copyright Business Wire 2013