Nuveen Announces Closed-End Fund Merger
April 30 2014 - 3:28PM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced that the Board of Directors of Nuveen Investment Quality
Municipal Fund, Inc. (NQM) approved a merger with American
Municipal Income Portfolio, Inc. (XAA), a closed-end fund managed
by US Bancorp Asset Management, Inc. and sub-advised by Nuveen Fund
Advisors, LLC and Nuveen Asset Management, LLC. The merger is
intended to create a larger fund with lower operating expenses and
increased secondary market appeal through greater outstanding float
for its common shares.
Completion of the proposed merger is subject to a number of
conditions, including approval by the shareholders of each fund in
the third quarter 2014. More information on the proposed merger
will be contained in the proxy materials expected to be filed in
the coming weeks. The proposed fund merger is as follows:
Acquired Fund Symbol Acquiring
Fund Symbol American Municipal Income Portfolio,
Inc. XAA
Nuveen Investment QualityMunicipal Fund,
Inc.
NQM
More information on NQM is available on Nuveen’s web site at
www.nuveen.com/cef. More information on XAA is available at
www.firstamericanfunds.com.
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 approximately $221 billion as of December 31, 2013. 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 each proposed reorganization
will be filed with the SEC in the coming weeks and will contain
important information relating 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 InvestmentsMedia Contact:Kathleen Cardoza, (312)
917-7813kathleen.cardoza@nuveen.com
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