Nuveen Announces Merger for New York Closed-End Funds
January 28 2013 - 4:34PM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced that shareholders of certain Nuveen’s New York state
municipal bond closed-end funds approved a merger. The merger is
intended to create a single New York 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 New York Quality Income Municipal
Fund, Inc.
NUN
• Nuveen New York Premium Income Municipal
Fund, Inc.
NNF
• Nuveen New York Investment Quality
Municipal Fund, Inc.
NQN
Nuveen New York AMT-Free Municipal Income
Fund
NRK
• Nuveen New York Select Quality Municipal
Fund, Inc.
NVN
• Nuveen New York Dividend Advantage
Municipal Income Fund
NKO
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 March 11, 2013. 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. In total, Nuveen Investments managed
approximately $219 billion as of December 31, 2012. 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:
- market developments;- legal and regulatory developments; and-
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 the proposed reorganization will
be filed with the SEC in the coming weeks and will contain
important information relating to 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.
Nuveen New York Premium Income Municipal Fund, Inc. (NYSE:NNF)
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