Thursday 30, April 2009 by

Four new Nuveen closed-end funds attract approximately $135 million

Nuveen Investments said it has successfully completed the initial public offering of four state-specific closed-end funds. These funds include the Nuveen California Municipal Value Fund 2 (NCB), Nuveen New Jersey Municipal Value Fund (NJV), Nuveen New York Municipal Value Fund 2 (NYV) and Nuveen Pennsylvania Municipal Value Fund (NPN). The new funds will consist primarily of investment-grade municipal bonds, and seek to provide monthly income exempt from federal income taxes with no leverage from preferred shares. The funds have already begun trading on the NYSE Amex.

Features & Analyses

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After years of milestones, Islamic finance in Dubai and beyond still has work to do, writes Abdulla Mohammed Al Awar, CEO of DIEDC read more