Nuveen Closed-End Funds’ Board Approves Fund Merger

Acquiring Fund to be Renamed upon Merger Completion to Better Reflect Investment Strategy

CHICAGO--(BUSINESS WIRE)-- Nuveen Investments, an operating division of TIAA Global Asset Management, today announced the board of three Nuveen California municipal closed-end funds approved a merger. The merger is subject to customary conditions, including shareholder approval at the annual shareholder meeting. The merger is intended to create a larger fund with lower operating expenses and increased trading volume on the exchange for common shares. Additionally, the acquiring fund, the Nuveen California Dividend Advantage Municipal Fund (NYSE: NAC) will change its name to the Nuveen California Enhanced Quality Municipal Fund upon completion of the merger. The ticker for the fund will remain NAC.

More information on the proposed merger will be contained in proxy materials expected to be filed in the coming weeks. The proposed fund merger is as follows:

More information on these and other Nuveen closed-end funds is posted on Nuveen’s web site at www.nuveen.com/cef.

Nuveen provides investment solutions designed to help secure the long-term goals of individual investors and the financial advisors who serve them. Through the expertise and capabilities of TIAA Global Asset Management’s high-caliber investment managers, Nuveen is committed to providing world-class consultative services and advice that align with client needs. Funds distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. Nuveen Investments is an operating division of TIAA Global Asset Management. For more information, please visit the Nuveen Investments website at www.nuveen.com.

16604-INV-O-05/17

View source version on businesswire.com: http://www.businesswire.com/news/home/20160526006466/en/

Nuveen Investments
Media Contact:
Kristyna Munoz, (312) 917-8343
[email protected]

Source: Nuveen Investments

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