Nuveen Announces Merger for Michigan Closed-End Funds

Business Wirevia The Motley Fool
Updated

Nuveen Announces Merger for Michigan Closed-End Funds

CHICAGO--(BUSINESS WIRE)-- Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that shareholders of Nuveen's Michigan state municipal bond closed-end funds approved a merger. The merger is intended to create a single Michigan state fund with lower operating expenses and increased trading volume on the exchange for common shares.

In connection with the shareholder approval, the funds will be merged as follows:

Acquired Fund

Symbol

Acquiring Fund

Symbol

  • Nuveen Michigan Premium Income Municipal Fund, Inc.

NMP

Nuveen Michigan Quality Income Municipal Fund, Inc.

NUM

  • Nuveen Michigan Dividend Advantage Municipal Fund

NZW


Subject to the satisfaction of certain customary closing conditions, the reorganizations are expected to close prior to the opening of the New York Stock Exchange on December 10, 2012. 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, 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 $220 billion as of September 30, 2012. For more information, please visit the Nuveen Investments website at www.nuveen.com.



Media Contact:
Nuveen Investments
Kristyna Munoz, 312-917-8343
kristyna.munoz@nuveen.com

KEYWORDS: United States North America Illinois Michigan

INDUSTRY KEYWORDS:

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