Nuveen gets shareholder OK to merge two Florida funds into national municipal bond funds

By Angela McDaniels

Tacoma, Wash., June 18 - Nuveen Investments Inc. said the common and preferred shareholders of Nuveen Insured Florida Tax-Free Advantage Municipal fund and Nuveen Insured Florida Premium Income Municipal fund approved the merger of their funds into the Nuveen Insured Tax-Free Advantage Municipal Fund and the Nuveen Insured Municipal Opportunity Fund, respectively.

The vote by shareholders of Nuveen's two remaining Florida closed-end funds, Nuveen Florida Investment Quality Municipal fund and Nuveen Florida Quality Income Municipal fund, to approve their merger with the Nuveen Premium Income Municipal Fund 2 remains open, and the meetings for those Florida funds have been adjourned until Friday.

Nuveen said the vote by shareholders of the three national closed-end funds named above to approve their mergers with the Florida closed-end funds remains open, and the meetings for those funds has been adjourned until July 24.

ISS Governance Services Inc. has recommended that shareholders in the four Florida and three national funds vote in favor of each of the proposed mergers, according to a Nuveen news release.

Nuveen is an investment management firm based in Chicago.

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