Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that shareholders of certain Maryland state municipal bond closed-end funds approved the proposal to merge their individual funds to create a single Maryland state fund. The intent of the merger is to lower operating expenses and increase 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 Maryland Dividend Advantage Municipal Fund
• Nuveen Maryland Dividend Advantage Municipal Fund 2
|NZR||Nuveen Maryland Premium Income Municipal Fund||NMY|
• Nuveen Maryland Dividend Advantage Municipal Fund 3
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 August 6, 2012. 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, Symphony Asset Management, NWQ Investment Management Company, Santa Barbara Asset Management, Tradewinds Global Investors, Winslow Capital Management, and Gresham Investment Management. In total, Nuveen Investments managed approximately $227 billion as of March 31, 2012. For more information, please visit the Nuveen Investments website at www.nuveen.com.