Nuveen Announces Mergers for Ohio and Arizona Closed-End Funds

Nuveen Announces Mergers for Ohio and Arizona 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 certain Nuveen Ohio and Arizona state municipal bond closed-end funds approved a series of mergers. The mergers are intended to create two state funds with lower operating expenses and increased trading volume on the exchange for common shares.

In addition, Nuveen Ohio Quality Income Municipal Fund, Inc. (NUO) and Nuveen Arizona Premium Income Municipal Fund, Inc. (NAZ) announced that shareholders approved a change of domicile reorganization from a Minnesota corporation to a Massachusetts business trust. Upon completion of the change of domicile, the funds will become the Nuveen Ohio Quality Income Municipal Fund and the Nuveen Arizona Premium Income Municipal Fund.


In connection with the shareholder approval, the following Ohio and Arizona state funds will be merged into the newly organized funds as follows:

             
Acquired Fund   Symbol   Acquiring Fund   Symbol

• Nuveen Ohio Dividend Advantage Municipal Fund

  NXI  

Nuveen Ohio Quality Income Municipal Fund

  NUO

• Nuveen Ohio Dividend Advantage Municipal Fund 2

NBJ

• Nuveen Ohio Dividend Advantage Municipal Fund 3

NVJ

 

           
 
             
Acquired Fund   Symbol   Acquiring Fund   Symbol

• Nuveen Arizona Dividend Advantage Municipal Fund

  NFZ   Nuveen Arizona Premium Income Municipal Fund   NAZ

• Nuveen Arizona Dividend Advantage Municipal Fund 2

NKR

• Nuveen Arizona Dividend Advantage Municipal Fund 3

NXE

   

 

       

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 April 8, 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 Investments
Media Contact:
Kristyna Munoz, (312) 917-8343
kristyna.munoz@nuveen.com

KEYWORDS:   United States  North America  Illinois

INDUSTRY KEYWORDS:

The article Nuveen Announces Mergers for Ohio and Arizona Closed-End Funds originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


Increase your money and finance knowledge from home

Forex for Beginners

Learn about trading currencies and foreign exchange transactions

View Course »

Behavioral Finance

Why do investors make the decisions that they do?

View Course »

Add a Comment

*0 / 3000 Character Maximum