Nuveen Enhanced Municipal Value Fund to sell 5.2 million shares

By Toni Weeks

San Luis Obispo, Calif., April 11 - Nuveen Enhanced Municipal Value Fund intends to sell 5.2 million common shares through an underwriting syndicate, through privately negotiated transactions or in at-the-market transactions, according to a 497 filing with the Securities and Exchange Commission.

The diversified closed-end management investment company seeks to provide current income exempt from regular federal income tax with the enhancement of portfolio value and total return as a secondary objective. The fund aims to achieve its investment objectives by investing in municipal securities, the income from which is exempt from regular federal income tax. At least 80% of the securities are investment-grade quality.

Steven M. Hlavin is the designated portfolio manager of the fund.

Shares of the fund are listed on the New York Stock Exchange under the symbol "NEV." On April 10, the closing share price was $13.94.

The maximum sales charge is 4%. Including management fees of 0.9%, the fund's total annual expenses are expected to be 1.08%.

Chicago-based Nuveen Fund Advisors, LLC is the investment adviser.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.