Nuveen announces mergers of Connecticut, Georgia, North Carolina closed-ends funds

By Tali David

Minneapolis, May 15 -Nuveen Investments announced the upcoming mergers of its Connecticut, Georgia and North Carolina closed-end funds into single funds for each state, according to a press release.

The Nuveen Connecticut Dividend Advantage Fund, Nuveen Connecticut Dividend Advantage Fund 2 and Nuveen Connecticut Dividend Advantage Fund 3 will merge into the Nuveen Connecticut Premium Income Municipal Fund.

The Nuveen Georgia Premium Income Municipal Fund and Nuveen Georgia Dividend Advantage Municipal Fund will merge into the Nuveen Georgia Dividend Advantage Municipal 2 Fund.

The Nuveen North Carolina Dividend Advantage Municipal Fund, Nuveen North Carolina Dividend Advantage Municipal 2 Fund and Nuveen North Carolina Dividend Advantage Municipal 3 Fund will merge into the Nuveen North Carolina Premium Income Municipal Fund.

The mergers are intended to create single, larger Connecticut, Georgia and North Carolina state funds with lower operating expenses and increased trading volume on the exchange for common shares, Nuveen said.

Nuveen is a Chicago-based investment services company.

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