Nuveen Closed-End Funds’ Board Approves Fund Mergers
August 06 2013 - 5:00PM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced the Board of Trustees of the Nuveen New York Dividend
Advantage Municipal Fund (NYSE: NAN), Nuveen New York
Performance Plus Municipal Fund, Inc. (NYSE: NNP) and Nuveen
New York Dividend Advantage Municipal Fund 2 (NYSE MKT: NXK)
approved a merger. The merger is subject to customary conditions,
including shareholder approval at annual shareholder meetings in
early 2014. The merger is intended to create a larger fund with
lower operating expenses and increased trading volume on the
exchange for its common shares.
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:
Acquiring Fund Symbol
Acquired Funds Symbol
Nuveen New York Dividend Advantage
Municipal Fund
NAN
Nuveen New York Dividend Advantage
Municipal Fund 2
Nuveen New York Performance Plus Municipal
Fund, Inc.
NXK
NNP
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. Funds distributed by Nuveen Securities, LLC., a
subsidiary of Nuveen Investments, Inc. In total, Nuveen Investments
managed approximately $224 billion as of March 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:
o market developments;
o legal and regulatory developments; and
o 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:Kristyna Munoz, (312)
917-8343kristyna.munoz@nuveen.com
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