Nuveen Announces Completion of the California and Massachusetts Closed-End Fund Mergers
June 09 2014 - 9:00AM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced that the reorganizations of certain Nuveen California and
Massachusetts closed-end funds were completed prior to the opening
of the New York Stock Exchange on June 9. As part of previously
announced reorganizations, the funds have been merged as
follows:
Acquired Funds Symbol
Acquiring Fund Symbol
- Nuveen California Performance Plus Municipal Fund, Inc.
NCP
- Nuveen California Municipal Market Opportunity Fund, Inc.
NCO
Nuveen California Dividend Advantage
Municipal Fund
NAC
- Nuveen California Investment Quality Municipal Fund, Inc.
NQC
- Nuveen California Quality Income Municipal Fund, Inc.
NUC
- Nuveen California Select Quality Municipal Fund, Inc.
NVC
Acquired Fund
Symbol
Acquiring Fund
Symbol
Nuveen California Premium Income Municipal
Fund
NCU
Nuveen California AMT-Free Municipal
Income Fund
NKX
Acquired Funds
Symbol
Acquiring Fund
Symbol
- Nuveen Massachusetts Dividend Advantage Municipal Fund
NMB
Nuveen Massachusetts Premium Income
Municipal Fund
NMT
- Nuveen Massachusetts AMT-Free Municipal Income Fund
NGX
In the mergers, the acquiring funds NAC, NKX and NMT acquired
substantially all of the assets and liabilities of the acquired
funds NCP, NCO, NQC, NUC, NVC, NCU, NMB and NGX, as set forth
above, in tax-free transactions in exchange for an equal aggregate
value of newly-issued common shares. The exchanges took place based
upon the funds’ closing net asset values on June 6, 2014. The
exchange ratios at which common shares of each acquired fund were
exchanged for common shares of the acquiring funds are listed
below:
Fund Exchange
Ratio Nuveen California Performance Plus Municipal Fund, Inc.
1.01618550 Nuveen California Municipal Market
Opportunity Fund, Inc. 1.04765986 Nuveen California
Investment Quality Municipal Fund, Inc. 1.03165896
Nuveen California Quality Income Municipal Fund, Inc.
1.06123458 Nuveen California Select Quality Municipal Fund, Inc.
1.04696102 Nuveen California Premium Income Municipal
Fund 1.02299895 Nuveen Massachusetts Dividend
Advantage Municipal Fund 0.99141407 Nuveen
Massachusetts AMT-Free Municipal Income Fund
0.96093745
Additionally, preferred shareholders of each acquired fund
received an equivalent number of newly issued preferred shares from
the acquiring fund, with substantially the same terms as their
previous preferred shares.
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 nearly $225 billion as of March 31, 2014. For more
information, please visit the Nuveen Investments website at
www.nuveen.com.
Nuveen InvestmentsMedia Contact:Kathleen Cardoza,
312-917-7813kathleen.cardoza@nuveen.com
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