Nuveen Insured Massachusetts Tax-Free Advantage Municipal Fund Announces Policy Changes
15 Mai 2012 - 3:00PM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced shareholder approval of revised investment policies that
will go into effect today for the Nuveen Insured Massachusetts
Tax-Free Advantage Municipal Fund (AMEX: NGX).
As previously announced on October 31, 2011, the fund’s Board of
Trustees recommended changes to NGX’s investment policies intended
to increase the fund’s flexibility regarding the types of
securities available for investment.
The changes provide that:
- The fund will eliminate the investment
policy requiring it, under normal circumstances, to invest at least
80 percent of its managed assets in municipal securities that are
covered by insurance guaranteeing the timely payment of principal
and interest.
- The fund will continue to invest
substantially all (at least 80 percent) of its managed assets in
investment grade quality municipal securities.
Reflecting its new investment strategy, the fund will change its
name to Nuveen Massachusetts AMT-Free Municipal Income Fund,
effective May 24, 2012, but the ticker will remain NGX.
More information on this 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 $230 billion as of January 31, 2012. For more
information, please visit the Nuveen Investments website at
www.nuveen.com.
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