Nuveen Select Quality Municipal Fund Establishes Equity Shelf Program
April 11 2012 - 6:16PM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced that the Nuveen Select Quality Municipal Fund, Inc.
(NYSE: NQS) has filed an initial registration statement to
establish an equity shelf program. The program is designed to
provide the fund’s portfolio managers with additional flexibility
in pursuing attractive investment opportunities they believe may
enhance long-term shareholder returns. Under its equity shelf
program, the fund, subject to market conditions, may raise
additional equity capital from time to time in varying amounts and
offering methods at a net price at or above the fund’s net asset
value per common share.
The fund’s primary investment objective is to provide current
income exempt from regular federal income tax. Its secondary
objective is to enhance portfolio value relative to the municipal
bond market by investing in tax-exempt municipal securities that
the fund’s adviser believes are underrated or undervalued or that
represent municipal market sectors that are undervalued. The fund
seeks to achieve its investment objective by investing at least 80
percent of its assets in tax-exempt municipal securities rated
within the four highest grades (Baa/BBB or better) by at least one
nationally recognized statistical rating organization or are
unrated but deemed to be of comparable quality.
The fund has filed a preliminary prospectus with the Securities
and Exchange Commission relating to the shelf offering of the fund.
The information in the preliminary prospectus is not complete and
may be changed. New shares of the fund will not be sold until the
registration statement is effective. The preliminary prospectus is
not an offer to sell newly registered shares and it is not
soliciting an offer to buy newly registered shares in any
jurisdiction where the offer or sale is not permitted.
Investors should consider the fund’s investment objectives,
risks, charges and expenses carefully before investing. The fund’s
preliminary prospectus contains this and other information about
the fund. Investors should read the fund’s prospectus carefully
before investing. Investors may obtain a prospectus by visiting
Nuveen’s web site at www.nuveen.com/cef or by contacting Nuveen
Investments at 1-800-257-8787.
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 $230 billion as of January 31, 2012. For more
information, please visit the Nuveen Investments website at
www.nuveen.com.
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