Nuveen Florida Closed-End Funds’ Trustees Approve Mergers Into Nuveen National CEFs
October 05 2009 - 9:27AM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions and high-net-worth investors, today
announced that on October 16, 2009, four closed-end funds, NWF,
NFL, NQF and NUF, will consummate the mergers with three of
Nuveen’s national closed-end municipal bond funds as follows:
Nuveen Insured Florida Premium Income Municipal Fund (NFL)To
be merged intoNuveen Insured Municipal Opportunity Fund, Inc.
(NIO)
Nuveen Florida Investment Quality Municipal Fund (NQF);
andNuveen Florida Quality Income Municipal Fund (NUF)To be
merged intoNuveen Premium Income Municipal Fund 2, Inc.
(NPM)
Nuveen Insured Florida Tax-Free Advantage Municipal Fund
(NWF)To be merged intoNuveen Insured Tax-Free Advantage
Municipal Fund (NEA)
The exchanges will take place based upon the funds’ closing net
asset values on October, 16, 2009, with Florida fund shareholders
receiving national shares of equivalent total net asset value The
net asset values of the Florida funds will reflect the accrual of
unpaid merger related expenses, including expected legal expenses
in connection with the previously announced merger-related
litigation filed in Massachusetts Federal District Court.
Nuveen Investments provides high quality investment services
designed to help secure the long-term goals of institutions and
high net worth investors as well as the consultants and financial
advisors who serve them. Nuveen Investments markets its growing
range of specialized investment solutions under the high-quality
brands of HydePark, NWQ, Nuveen, Santa Barbara, Symphony,
Tradewinds and Winslow Capital. In total, the Company managed $128
billion of assets on June 30, 2009. For more information, please
visit the Nuveen Investments website at www.nuveen.com.
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