425 1 d141377d425.htm NUVEEN DIVIDEND ADVANTAGE MUNICIPAL FUND Nuveen Dividend Advantage Municipal Fund

Filed by Nuveen Dividend Advantage Municipal Fund

pursuant to Rule 425 under the Securities Act of 1933, as amended,

and deemed filed pursuant to Rule 14a-6 under the Securities Exchange Act of 1934, as amended

Subject Companies:

Nuveen Premium Income Municipal Fund, Inc.

Commission File No. 811-05570

Nuveen Investment Quality Municipal Fund, Inc.

Commission File No. 811-06091

Nuveen Select Quality Municipal Fund, Inc.

Commission File No. 811-06240

Nuveen Premier Municipal Income Fund, Inc.

Commission File No. 811-06456

Investment Policy Revision

Effective August 5, 2016, a number of Nuveen AMT-Free and non-AMT municipal closed-end funds have approved changes to their investment policies altering the limits on exposure to securities subject to the federal alternative minimum tax applicable to individuals (AMT).

AMT FREE MUNICIPAL FUNDS

The two AMT-Free funds listed below adopted a new investment policy to require the funds to invest 100% of its managed assets in securities the income from which is exempt from AMT at the time of purchase. While the funds were previously being managed as such, the new AMT policy will be in addition to the current policy which requires that only 80% of the funds’ assets be invested in securities exempt from the AMT. The 80% policy was adopted to meet the “Names Rule” under the Investment Company Act of 1940 and is subject to change by the board upon 60 days’ notice to shareholders. The new 100% AMT policy is subject to change by the fund’s board without shareholder notice. The new AMT policy is consistent with Nuveen’s other AMT-Free funds. The new policy was adopted for the following funds:

 

Ticker

 

    

Nuveen Fund Name

 

NRK

    

Nuveen New York AMT-Free Municipal Income Fund

NKX

    

Nuveen California AMT-Free Municipal Income Fund

MUNICIPAL FUNDS THAT ARE NOT AMT-FREE

All of the Nuveen municipal closed-end funds listed below have adopted an investment policy to limit the amount securities subject to AMT to no more than 20% of a fund’s managed assets. As set forth below the vast majority of these funds previously did not have a limit on AMT securities while six funds had a 30% limit on AMT securities. The new AMT investment policy will replace each fund’s old investment policy. Together with a number of other Nuveen funds, these changes will create a uniform 20% limit on AMT securities across Nuveen’s municipal complex. The following is a list of the funds adopting the new 20% limit and each fund’s previous investment policy with respect to AMT securities.

 

Ticker

 

  

Nuveen Fund Name

 

  

Prior AMT
Exposure Limit

 

  

New AMT Policy
Limit

 

    

NAZ

  

Nuveen Arizona Premium Income Municipal Fund

   30%    20%  

NEV

  

Nuveen Enhanced Municipal Value Fund

   30%    20%  

NHA

  

Nuveen Municipal 2021 Target Term Fund

   30%    20%  

NID

   Nuveen Intermediate Duration Municipal Term Fund    30%    20%  

NIQ

   Nuveen Intermediate Duration Quality Municipal Term Fund    30%    20%  


NMZ

  

Nuveen Municipal High Income Opportunity Fund

   30%    20%  

NAC

  

Nuveen California Dividend Advantage Municipal Fund

   No Limit    20%  

NAD

  

Nuveen Dividend Advantage Municipal Fund

   No Limit    20%  

NAN

  

Nuveen New York Dividend Advantage Municipal Fund

   No Limit               20%             

NCA

  

Nuveen California Municipal Value Fund, Inc.

   No Limit    20%  

NIM

  

Nuveen Select Maturities Municipal Fund

   No Limit    20%  

NKG

  

Nuveen Georgia Dividend Advantage Municipal Fund 2

   No Limit    20%  

NMI

  

Nuveen Municipal Income Fund, Inc.

   No Limit    20%  

NMS

  

Nuveen Minnesota Municipal Income Fund

   No Limit    20%  

NMT

  

Nuveen Massachusetts Premium Income Municipal Fund

   No Limit    20%  

NMY

  

Nuveen Maryland Premium Income Municipal Fund

   No Limit    20%  

NNC

  

Nuveen North Carolina Premium Income Municipal Fund

   No Limit    20%  

NNY

  

Nuveen New York Municipal Value Fund, Inc.

   No Limit    20%  

NOM

  

Nuveen Missouri Premium Income Municipal Fund

   No Limit    20%  

NPV

  

Nuveen Virginia Premium Income Municipal Fund

   No Limit    20%  

NQP

  

Nuveen Pennsylvania Investment Quality Municipal Fund

   No Limit    20%  

NTC

  

Nuveen Connecticut Premium Income Municipal Fund

   No Limit    20%  

NTX

  

Nuveen Texas Quality Income Municipal Fund

   No Limit    20%  

NUM

  

Nuveen Michigan Quality Income Municipal Fund

   No Limit    20%  

NUO

  

Nuveen Ohio Quality Income Municipal Fund

   No Limit    20%  

NUV

  

Nuveen Municipal Value Fund, Inc.

   No Limit    20%  

NVX

  

Nuveen California Dividend Advantage Municipal Fund 2

   No Limit    20%  

NXJ

  

Nuveen New Jersey Dividend Advantage Municipal Fund

   No Limit    20%  

NZF

  

Nuveen Enhanced Municipal Credit Opportunities Fund

   No Limit    20%  

NZH

 

  

Nuveen California Dividend Advantage Municipal Fund 3

 

  

No Limit

 

   20%