Nuveen updates portfolio management of six municipal bond funds

By Melissa Kory

Cleveland, Dec. 6 - Nuveen Investments announced an update to the portfolio management for five of its municipal bond closed-end funds and one municipal bond mutual fund.

This update follows the departure of John Wilhelm from the firm.

The funds affected include Nuveen Investment Quality Municipal Fund, Nuveen Municipal High Income Opportunity Fund 2, Nuveen Municipal Income Fund, Nuveen Enhanced Municipal Value Fund, Nuveen Premium Income Municipal Fund 4 and Nuveen All-American Municipal Bond Fund.

Nuveen Asset Management's municipal chief investment officer, John Miller, will assume portfolio management responsibilities for the Nuveen All-American Municipal Bond Fund and the Nuveen Municipal High Income Opportunity Fund 2 (NMD).

The Nuveen Municipal Income Fund (NMI), Nuveen Premium Income Municipal Fund 4 (NPT) and Nuveen Investment Quality Municipal Fund (NQM) will be managed by Paul Brennan, and the Nuveen Enhanced Municipal Value Fund (NEV) will be managed by Steven Hlavin.

Miller joined Nuveen in 1996 and supervises Nuveen's municipal fixed-income investment activities. Brennan joined Nuveen in 1997 and manages several national open- and closed-end municipal bond funds. Hlavin joined Nuveen in 2003 and is an assistant portfolio manager for the firm's SPDR Nuveen exchange-traded funds and several institutional portfolios.

Chicago-based Nuveen sells investment products.

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