Nuveen Closed-End Fund Proposals Receive Support of Leading Proxy Advisory Service
04 Maggio 2009 - 2:00PM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions and high-net-worth investors, today
announced that Institutional Shareholder Services Inc. (ISS) has
recommended that shareholders vote in favor of proposed investment
policy changes for Nuveen�s New York State closed-end municipal
bond funds. ISS is widely recognized as the leading independent
proxy advisory firm in the nation. Its recommendations are relied
upon by hundreds of major institutional investment firms, mutual
funds, and other fiduciaries throughout the country.
ISS recommends the funds� shareholders vote in favor of the
proposed changes at the funds� annual shareholder�s meeting on
Wednesday, May 6, 2009. The closed-end funds holding the
shareholder meeting and vote include:
Nuveen New York Dividend Advantage Municipal Fund � (NAN) Nuveen
New York Dividend Advantage Municipal Fund 2 (NXK) Nuveen New York
Investment Quality Municipal Fund, Inc. (NQN) Nuveen New York
Municipal Value Fund, Inc. (NNY) Nuveen New York Performance Plus
Municipal Fund, Inc. (NNP) Nuveen New York Quality Income Municipal
Fund, Inc. (NUN) Nuveen New York Select Quality Municipal Fund,
Inc. (NVN) Nuveen Insured New York Dividend Advantage Municipal
Fund (NKO) Nuveen Insured New York Premium Income Municipal Fund,
Inc. (NNF) Nuveen Insured New York Tax-Free Advantage Municipal
Fund (NRK) �
The affected funds� Board of Trustees has recommended that
shareholders vote in favor of implementing the new investment
policies in order to help provide the funds� management:
- Enhanced ability to meet
investment objectives while maintaining the quality orientation of
funds' investment portfolio.
- Increased flexibility in
diversifying portfolio risks and managing duration to help sustain
and build net asset value.
- Improved secondary market
competitiveness that may lead to a higher relative market price
and/or stronger premium/discount performance.
Investors who have not mailed in their proxy and wish to vote
via the Internet may download their fund's proxy statement and vote
their proxy online. To vote over the internet, investors should go
to www.proxyweb.com if they received their proxy materials directly
from Nuveen. Investors who received their proxy material from their
Financial Advisor should go to www.proxyvote.com. In both cases,
investors should enter the control number provided with their
Notice of Annual/Special Meeting of Shareholders, and follow the
proxy voting instructions. Additionally, shareholders who wish to
vote by telephone, should call the toll-free number located on
their proxy card and follow the recorded instructions, using their
proxy card as a guide.
For more information on these proposals and other Nuveen
closed-end funds, please visit www.nuveen.com/cef.
Nuveen Investments provides high quality investment services
designed to help secure the long-term goals of institutions and
high net worth investors as well as the consultants and financial
advisors who serve them. Nuveen Investments markets its growing
range of specialized investment solutions under the high-quality
brands of HydePark, NWQ, Nuveen, Santa Barbara, Symphony,
Tradewinds and Winslow Capital. In total, the Company managed $119
billion of assets on December 31, 2008. For more information,
please visit the Nuveen Investments website at www.nuveen.com.
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