UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No. )
Filed by the Registrant
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Filed by a Party other than the Registrant
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Check the appropriate box:
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Preliminary Proxy Statement.
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Confidential, for Use of the Commission Only (as permitted by
Rule 14a-
6(e)(2)
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Definitive Proxy Statement.
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Definitive Additional Materials.
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Soliciting Material Pursuant to §240.14a-11(c) or §240.14a-12
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Nuveen Insured California Dividend Advantage Municipal Fund (NKL)
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (check the appropriate box):
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No fee required.
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Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
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Title of each class of securities to which transaction applies:
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Aggregate number of securities to which transaction applies:
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3)
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Per unit price or other underlying value of transaction computed pursuant to Exchange Act
Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was
determined):
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4)
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Proposed maximum aggregate value of transaction:
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5)
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Total fee paid:
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Fee paid previously with preliminary materials.
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Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2)
and identify the filing for which the offsetting fee was paid previously. Identify the
previous filing by registration statement number, or the Form or Schedule and the date of its
filing.
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1)
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Amount Previously Paid:
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2)
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Form, Schedule or Registration Statement No.:
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3)
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Filing Party:
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4)
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Date Filed:
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Important Notice
to Fund Shareholders
OCTOBER 11,
2010
Although we recommend that you read the complete Proxy
Statement, for your convenience, we have provided a brief
overview of the issues to be voted on.
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Q.
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Why am I receiving this Proxy Statement?
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A.
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You are receiving this Proxy Statement as a Fund shareholder in
connection with the annual shareholders meeting for the Nuveen
closed-end funds listed at the top of the Notice of Annual
Meeting of Shareholders.
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You are being asked to vote on a number of important matters:
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(i)
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Updated Investment Policies (all Affected Municipal Funds (as
defined in the Proxy Statement)
). Nuveen’s municipal
closed-end funds are seeking to adopt a uniform, “up to
date” set of investment policies (the “New Investment
Policies”). In general, these funds currently have a
somewhat diverse set of policies, reflecting when the funds were
launched over the past 20 years as well as developments
over time in the municipal market, including new types of
securities as well as investment strategies.
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(ii)
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Approval of Fund Board Nominees (all Funds).
Each
year, you and other Fund shareholders must approve the election
of Board members to serve on your Fund’s Board. This is a
requirement for all funds that list their common shares on a
stock exchange. The Funds described in this Proxy Statement are
holding their annual shareholders meetings at which Board
members will be elected. The list of specific nominees is
contained in the enclosed Proxy Statement.
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Your Fund’s Board of Trustees/Directors, including your
Board’s independent members, unanimously recommends that
you vote
FOR
each proposal.
Your vote is very important. We encourage you as a
shareholder to participate in your Fund’s governance by
returning your vote as soon as possible. If enough shareholders
don’t cast their votes, your Fund may not be able to hold
its meeting or the vote on each issue, and will be required to
incur additional solicitation costs in order to obtain
sufficient shareholder participation.
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Q.
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What are the potential benefits of the New Investment
Policies for common shareholders of the Affected Municipal
Funds?
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A.
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The potential benefits to common shareholders are:
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• Enhanced ability of the Affected
Municipal Funds to generate attractive tax-free income while
retaining their orientation on investment grade quality
municipal securities;
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• Increased flexibility in diversifying
portfolio risks and managing duration (the sensitivity of bond
prices to interest rate changes) to pursue the preservation and
possible growth of capital, which, if successful, will help to
sustain and build net asset value; and
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• Improved secondary market
competitiveness that may lead to a higher relative market price
and/or
stronger premium/discount performance.
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What are the potential benefits of the New Investment
Policies for preferred shareholders of the Affected Municipal
Funds?
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A.
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The potential benefits to preferred shareholders are increased
flexibility in diversifying portfolio risks and managing
duration (the sensitivity of bond prices to interest rate
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changes) to pursue the preservation and possible growth of
capital, which, if successful, will help to sustain and build
net asset value and therefore asset coverage levels for
preferred shares.
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What actions are required in order to implement the New
Investment Policies?
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A.
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In order to implement the New Investment Policies and obtain the
potential benefits described above, each Affected Municipal Fund
must make certain changes to its existing policies, including
certain fundamental policies that require approval of
shareholders. In some cases, this may require shareholder
approval of the elimination of an existing fundamental policy as
well as the implementation of a new replacement fundamental
policy. Because each Affected Municipal Fund tends to be
situated somewhat differently, the specific changes required to
implement the New Investment Policies often vary from fund to
fund.
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Q.
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What happens if shareholders don’t approve the
elimination of the fundamental investment policies and/or
don’t approve the New Investment Policy or Policies?
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A.
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An Affected Municipal Fund will not be able to implement the New
Investment Policies as discussed above. The Affected Municipal
Fund would likely incur further expenses to solicit additional
shareholder participation, and may experience potential
disruptions to its investment operations. The Boards of the
Affected Municipal Funds urge you to vote without delay in order
to avoid the potential for higher costs and/or disruptions to
portfolio operations.
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Q.
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Who do I call if I have questions?
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A.
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If you need any assistance, or have any questions regarding the
proposals or how to vote your shares, please call Computershare
Fund Services, your Fund’s proxy solicitor, at
(866) 612-5814.
Please have your proxy material available when you call.
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How do I vote my shares?
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A.
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You can vote your shares by completing and signing the enclosed
proxy card, and mailing it in the enclosed postage-paid
envelope. Alternatively, you may vote by telephone by calling
the toll-free number on the proxy card or by computer by going
to the Internet address provided on the proxy card and following
the instructions, using your proxy card as a guide.
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Q.
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Will anyone contact me?
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A.
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You may receive a call from Computershare Fund Services,
the proxy solicitor hired by your Fund, to verify that you
received your proxy materials, to answer any questions you may
have about the proposals and to encourage you to vote your proxy.
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We recognize the inconvenience of the proxy solicitation process
and would not impose on you if we did not believe that the
matters being proposed were important and in the best interests
of the Funds. Once your vote has been registered with the proxy
solicitor, your name will be removed from the solicitor’s
follow-up
contact list.
333 West Wacker
Drive
Chicago, Illinois 60606
(800) 257-8787
Notice
of Annual Meeting
of Shareholders
November 16, 2010
October 11,
2010
Nuveen
Floating Rate Income Fund (JFR)
Nuveen
Floating Rate Income Opportunity Fund (JRO)
Nuveen
Senior Income Fund (NSL)
Nuveen
Tax-Advantaged Floating Rate Fund (JFP)
Nuveen
Arizona Dividend Advantage Municipal Fund (NFZ)
Nuveen
Arizona Dividend Advantage Municipal Fund 2 (NKR)
Nuveen
Arizona Dividend Advantage Municipal Fund 3 (NXE)
Nuveen
Arizona Premium Income Municipal Fund, Inc. (NAZ)
Nuveen
California Dividend Advantage Municipal Fund (NAC)
Nuveen
California Dividend Advantage Municipal Fund 2
(NVX)
Nuveen
California Dividend Advantage Municipal Fund 3 (NZH, NZH
PrC)
Nuveen
California Investment Quality Municipal Fund, Inc.
(NQC)
Nuveen
California Municipal Market Opportunity Fund, Inc.
(NCO)
Nuveen
California Municipal Value Fund, Inc. (NCA)
Nuveen
California Municipal Value 2 (NCB)
Nuveen
California Performance Plus Municipal Fund, Inc. (NCP)
Nuveen
California Premium Income Municipal Fund (NCU)
Nuveen
California Quality Income Municipal Fund, Inc. (NUC)
Nuveen
California Select Quality Municipal Fund, Inc. (NVC)
Nuveen
Insured California Dividend Advantage Municipal Fund
(NKL)
Nuveen
Insured California Premium Income Municipal Fund, Inc.
(NPC)
Nuveen
Insured California Premium Income Municipal Fund 2, Inc.
(NCL)
Nuveen
Insured California Tax-Free Advantage Municipal Fund
(NKX)
Nuveen
Connecticut Dividend Advantage Municipal Fund (NFC, NFC
PrC)
Nuveen
Connecticut Dividend Advantage Municipal Fund 2 (NGK, NGK
PrC)
Nuveen
Connecticut Dividend Advantage Municipal Fund 3 (NGO, NGO
PrC)
Nuveen
Connecticut Premium Income Municipal Fund (NTC, NTC
PrC)
Nuveen
Georgia Dividend Advantage Municipal Fund (NZX, NZX
PrC)
Nuveen
Georgia Dividend Advantage Municipal Fund 2 (NKG, NKG
PrC)
Nuveen
Georgia Premium Income Municipal Fund (NPG, NPG PrC)
Nuveen
Maryland Dividend Advantage Municipal Fund (NFM, NFM
PrC)
Nuveen
Maryland Dividend Advantage Municipal Fund 2 (NZR, NZR
PrC)
Nuveen
Maryland Dividend Advantage Municipal Fund 3 (NWI, NWI
PrC)
Nuveen
Maryland Premium Income Municipal Fund (NMY, NMY PrC)
Nuveen
Massachusetts Dividend Advantage Municipal Fund (NMB, NMB
PrC)
Nuveen
Massachusetts Premium Income Municipal Fund (NMT, NMT
PrC)
Nuveen
Insured Massachusetts Tax-Free Advantage Municipal Fund
(NGX, NGX PrC)
Nuveen
Michigan Dividend Advantage Municipal Fund (NZW)
Nuveen
Michigan Premium Income Municipal Fund, Inc. (NMP)
Nuveen
Michigan Quality Income Municipal Fund, Inc. (NUM)
Nuveen
Missouri Premium Income Municipal Fund (NOM)
Nuveen
New Jersey Dividend Advantage Municipal Fund (NXJ)
Nuveen
New Jersey Dividend Advantage Municipal Fund 2
(NUJ)
Nuveen
New Jersey Investment Quality Municipal Fund, Inc.
(NQJ)
Nuveen
New Jersey Municipal Value Fund (NJV)
Nuveen
New Jersey Premium Income Municipal Fund, Inc. (NNJ)
Nuveen
North Carolina Dividend Advantage Municipal Fund (NRB, NRB
PrC)
Nuveen
North Carolina Dividend Advantage Municipal Fund 2 (NNO,
NNO PrC)
Nuveen
North Carolina Dividend Advantage Municipal Fund 3 (NII,
NII PrC)
Nuveen
North Carolina Premium Income Municipal Fund (NNC, NNC
PrC)
Nuveen
Ohio Dividend Advantage Municipal Fund (NXI)
Nuveen
Ohio Dividend Advantage Municipal Fund 2 (NBJ)
Nuveen
Ohio Dividend Advantage Municipal Fund 3 (NVJ)
Nuveen
Ohio Quality Income Municipal Fund, Inc. (NUO)
Nuveen
Pennsylvania Municipal Value Fund (NPN)
Nuveen
Pennsylvania Dividend Advantage Municipal Fund (NXM)
Nuveen
Pennsylvania Dividend Advantage Municipal Fund 2
(NVY)
Nuveen
Pennsylvania Investment Quality Municipal Fund (NQP)
Nuveen
Pennsylvania Premium Income Municipal Fund 2
(NPY)
Nuveen
Texas Quality Income Municipal Fund (NTX)
Nuveen
Virginia Dividend Advantage Municipal Fund (NGB, NGB
PrC)
Nuveen
Virginia Dividend Advantage Municipal Fund 2 (NNB, NNB
PrC)
Nuveen
Virginia Premium Income Municipal Fund (NPV, NPV PrC)
To the
Shareholders of the Above Funds:
Notice is hereby given that the Annual Meeting of Shareholders
(the “Annual Meeting”) of Nuveen Arizona Premium
Income Municipal Fund, Inc. (“Arizona Premium
Income”), Nuveen California Investment Quality Municipal
Fund, Inc. (“California Investment Quality”), Nuveen
California Municipal Market Opportunity Fund, Inc.
(“California Market Opportunity”), Nuveen California
Municipal Value Fund, Inc. (“California Value”),
Nuveen California Performance Plus Municipal Fund, Inc.
(“California Performance Plus”), Nuveen California
Quality Income Municipal Fund, Inc. (“California Quality
Income”), Nuveen California Select Quality Municipal Fund,
Inc. (“California Select Quality”), Nuveen Insured
California Premium Income Municipal Fund, Inc. (“Insured
California Premium Income”), Nuveen Insured California
Premium Income Municipal Fund 2, Inc. (“Insured
California Premium Income 2”), Nuveen Michigan Premium
Income Municipal Fund, Inc. (“Michigan Premium
Income”), Nuveen Michigan Quality Income Municipal Fund,
Inc. (“Michigan Quality Income”), Nuveen New Jersey
Investment Quality Municipal Fund, Inc. (“New Jersey
Investment Quality”), Nuveen New Jersey Premium Income
Municipal Fund, Inc. (“New Jersey Premium Income”) and
Nuveen Ohio Quality Income Municipal Fund, Inc. (“Ohio
Quality Income”),
each a Minnesota corporation
(each
a “Minnesota Fund” and collectively, the
“Minnesota Funds”), and Nuveen Floating Rate Income
Fund (“Floating Rate Income”), Nuveen Floating Rate
Income Opportunity Fund (“Floating Rate Income
Opportunity”), Nuveen Senior Income Fund (“Senior
Income”), Nuveen Tax-Advantaged Floating Rate Fund
(“Tax-Advantaged Floating Rate”), Nuveen Arizona
Dividend Advantage Municipal Fund (“Arizona Dividend
Advantage”), Nuveen Arizona Dividend Advantage Municipal
Fund 2 (“Arizona Dividend Advantage 2”), Nuveen
Arizona Dividend Advantage Municipal Fund 3 (“Arizona
Dividend Advantage 3”), Nuveen California Dividend
Advantage Municipal Fund (“California Dividend
Advantage”), Nuveen California Dividend Advantage Municipal
Fund 2 (“California Dividend Advantage 2”),
Nuveen California Dividend Advantage Municipal Fund 3
(“California Dividend Advantage 3”), Nuveen California
Municipal Value 2 (“California Value 2”), Nuveen
California Premium Income Municipal Fund (“California
Premium Income”), Nuveen Insured California Dividend
Advantage Municipal Fund (“Insured California Dividend
Advantage”), Nuveen Insured California Tax-Free Advantage
Municipal Fund (“Insured California Tax-Free
Advantage”), Nuveen Connecticut Dividend Advantage
Municipal Fund (“Connecticut Dividend Advantage”),
Nuveen Connecticut Dividend Advantage Municipal Fund 2
(“Connecticut Dividend Advantage 2”), Nuveen
Connecticut Dividend Advantage Municipal
Fund 3 (“Connecticut Dividend Advantage 3”),
Nuveen Connecticut Premium Income Municipal Fund
(“Connecticut Premium Income”), Nuveen Georgia
Dividend Advantage Municipal Fund (“Georgia Dividend
Advantage”), Nuveen Georgia Dividend Advantage Municipal
Fund 2 (“Georgia Dividend Advantage 2”), Nuveen
Georgia Premium Income Municipal Fund (“Georgia Premium
Income”), Nuveen Maryland Dividend Advantage Municipal Fund
(“Maryland Dividend Advantage”), Nuveen Maryland
Dividend Advantage Municipal Fund 2 (“Maryland
Dividend Advantage 2”), Nuveen Maryland Dividend Advantage
Municipal Fund 3 (“Maryland Dividend Advantage
3”), Nuveen Maryland Premium Income Municipal Fund
(“Maryland Premium Income”), Nuveen Massachusetts
Dividend Advantage Municipal Fund (“Massachusetts Dividend
Advantage”), Nuveen Massachusetts Premium Income Municipal
Fund (“Massachusetts Premium Income”), Nuveen Insured
Massachusetts Tax-Free Advantage Municipal Fund (“Insured
Massachusetts Tax-Free Advantage”), Nuveen Michigan
Dividend Advantage Municipal Fund (“Michigan Dividend
Advantage”), Nuveen Missouri Premium Income Municipal Fund
(“Missouri Premium Income”), Nuveen New Jersey
Dividend Advantage Municipal Fund (“New Jersey Dividend
Advantage”), Nuveen New Jersey Dividend Advantage Municipal
Fund 2 (“New Jersey Dividend Advantage 2”),
Nuveen New Jersey Municipal Value Fund (“New Jersey
Value”), Nuveen North Carolina Dividend Advantage Municipal
Fund (“North Carolina Dividend Advantage”), Nuveen
North Carolina Dividend Advantage Municipal Fund 2
(“North Carolina Dividend Advantage 2”), Nuveen North
Carolina Dividend Advantage Municipal Fund 3 (“North
Carolina Dividend Advantage 3”), Nuveen North Carolina
Premium Income Municipal Fund (“North Carolina Premium
Income”), Nuveen Ohio Dividend Advantage Municipal Fund
(“Ohio Dividend Advantage”), Nuveen Ohio Dividend
Advantage Municipal Fund 2 (“Ohio Dividend Advantage
2”), Nuveen Ohio Dividend Advantage Municipal Fund 3
(“Ohio Dividend Advantage 3”), Nuveen Pennsylvania
Municipal Value Fund (“Pennsylvania Value”), Nuveen
Pennsylvania Dividend Advantage Municipal Fund
(“Pennsylvania Dividend Advantage”), Nuveen
Pennsylvania Dividend Advantage Municipal Fund 2
(“Pennsylvania Dividend Advantage 2”), Nuveen
Pennsylvania Investment Quality Municipal Fund
(“Pennsylvania Investment Quality”), Nuveen
Pennsylvania Premium Income Municipal Fund 2
(“Pennsylvania Premium Income 2”), Nuveen Texas
Quality Income Municipal Fund (“Texas Quality
Income”), Nuveen Virginia Dividend Advantage Municipal Fund
(“Virginia Dividend Advantage”), Nuveen Virginia
Dividend Advantage Municipal Fund 2 (“Virginia
Dividend Advantage 2”) and Nuveen Virginia Premium Income
Municipal Fund (“Virginia Premium Income”),
each a
Massachusetts business trust
(each a “Massachusetts
Fund” and collectively, the “Massachusetts
Funds”) (the Minnesota Funds and Massachusetts Funds are
each, a “Fund” and collectively, the
“Funds”), will be held in the 32nd Floor
Conference Room of Nuveen Investments, 333 West Wacker
Drive, Chicago, Illinois 60606, on Tuesday, November 16,
2010, at 10:30 a.m., Central time, for the following
purposes and to transact such other business, if any, as may
properly come before the Annual Meeting:
Matters
to Be Voted on by Shareholders:
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1.
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To elect Members to the Board of Directors/Trustees (each a
“Board” and each Director or Trustee a “Board
Member”) of each Fund as outlined below:
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a.
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For each Minnesota Fund, except California Value, to elect nine
(9) Board Members:
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i)
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seven (7) Board Members to be elected by the holders of
Common Shares and Municipal Auction Rate Cumulative Preferred
Shares (“Preferred Shares”), voting together as a
single class; and
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ii)
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two (2) Board Members to be elected by the holders of
Preferred Shares only, voting separately as a single class.
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b. For California Value, to elect three (3) Board
Members.
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c.
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For each Massachusetts Fund, except Floating Rate Income,
Floating Rate Income Opportunity, Senior Income, Tax-Advantaged
Floating Rate, California Value 2, New Jersey Value and
Pennsylvania Value, to elect four (4) Board Members:
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i)
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two (2) Board Members to be elected by the holders of
Common Shares and Preferred Shares, voting together as a single
class; and
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ii)
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two (2) Board Members to be elected by the holders of
Preferred Shares only, voting separately as a single class.
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d.
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For Floating Rate Income, Floating Rate Income Opportunity,
Senior Income, Tax-Advantaged Floating Rate, California Value 2,
New Jersey Value and Pennsylvania to elect three (3) Board
Members.
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2.
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To approve the elimination of fundamental investment policies
and/or
to
approve the new fundamental investment policies for Arizona
Dividend Advantage 2, California Market Opportunity, California
Quality Income, California Select Quality, Missouri Premium
Income, North Carolina Dividend Advantage and North Carolina
Dividend Advantage 2.
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3.
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To transact such other business as may properly come before the
Annual Meeting.
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Shareholders of record at the close of business on
September 17, 2010 are entitled to notice of and to vote at
the Annual Meeting.
All shareholders are cordially invited to attend the Annual
Meeting. In order to avoid delay and additional expense and to
assure that your shares are represented, please vote as promptly
as possible, regardless of whether or not you plan to attend the
Annual Meeting. You may vote by mail, telephone or over the
Internet. To vote by mail, please mark, sign, date and mail the
enclosed proxy card. No postage is required if mailed in the
United States. To vote by telephone, please call the toll-free
number located on your proxy card and follow the recorded
instructions, using your proxy card as a guide. To vote over the
Internet, go to the Internet address provided on your proxy card
and follow the instructions, using your proxy card as a
guide.
Kevin J. McCarthy
Vice President and Secretary
333 West Wacker
Drive
Chicago, Illinois 60606
(800) 257-8787
Joint
Proxy Statement
October
11, 2010
This Joint Proxy Statement is first being mailed to shareholders
on or about October 11, 2010.
Nuveen
Floating Rate Income Fund (JFR)
Nuveen
Floating Rate Income Opportunity Fund (JRO)
Nuveen
Senior Income Fund (NSL)
Nuveen
Tax-Advantaged Floating Rate Fund (JFP)
Nuveen
Arizona Dividend Advantage Municipal Fund (NFZ)
Nuveen
Arizona Dividend Advantage Municipal Fund 2 (NKR)
Nuveen
Arizona Dividend Advantage Municipal Fund 3 (NXE)
Nuveen
Arizona Premium Income Municipal Fund, Inc. (NAZ)
Nuveen
California Dividend Advantage Municipal Fund (NAC)
Nuveen
California Dividend Advantage Municipal Fund 2
(NVX)
Nuveen
California Dividend Advantage Municipal Fund 3 (NZH, NZH
PrC)
Nuveen
California Investment Quality Municipal Fund, Inc.
(NQC)
Nuveen
California Municipal Market Opportunity Fund, Inc.
(NCO)
Nuveen
California Municipal Value Fund, Inc. (NCA)
Nuveen
California Municipal Value 2 (NCB)
Nuveen
California Performance Plus Municipal Fund, Inc. (NCP)
Nuveen
California Premium Income Municipal Fund (NCU)
Nuveen
California Quality Income Municipal Fund, Inc. (NUC)
Nuveen
California Select Quality Municipal Fund, Inc. (NVC)
Nuveen
Insured California Dividend Advantage Municipal Fund
(NKL)
Nuveen
Insured California Premium Income Municipal Fund, Inc.
(NPC)
Nuveen
Insured California Premium Income Municipal Fund 2, Inc.
(NCL)
Nuveen
Insured California Tax-Free Advantage Municipal Fund
(NKX)
Nuveen
Connecticut Dividend Advantage Municipal Fund (NFC, NFC
PrC)
Nuveen
Connecticut Dividend Advantage Municipal Fund 2 (NGK, NGK
PrC)
Nuveen
Connecticut Dividend Advantage Municipal Fund 3 (NGO, NGO
PrC)
Nuveen
Connecticut Premium Income Municipal Fund (NTC, NTC
PrC)
Nuveen
Georgia Dividend Advantage Municipal Fund (NZX, NZX
PrC)
Nuveen
Georgia Dividend Advantage Municipal Fund 2 (NKG, NKG
PrC)
Nuveen
Georgia Premium Income Municipal Fund (NPG, NPG PrC)
Nuveen
Maryland Dividend Advantage Municipal Fund (NFM, NFM
PrC)
Nuveen
Maryland Dividend Advantage Municipal Fund 2 (NZR, NZR
PrC)
Nuveen
Maryland Dividend Advantage Municipal Fund 3 (NWI, NWI
PrC)
Nuveen
Maryland Premium Income Municipal Fund (NMY, NMY PrC)
Nuveen
Massachusetts Dividend Advantage Municipal Fund (NMB, NMB
PrC)
Nuveen
Massachusetts Premium Income Municipal Fund (NMT, NMT
PrC)
Nuveen
Insured Massachusetts Tax-Free Advantage Municipal Fund
(NGX, NGX PrC)
Nuveen
Michigan Dividend Advantage Municipal Fund (NZW)
Nuveen
Michigan Premium Income Municipal Fund, Inc. (NMP)
Nuveen
Michigan Quality Income Municipal Fund, Inc. (NUM)
Nuveen
Missouri Premium Income Municipal Fund (NOM)
Nuveen
New Jersey Dividend Advantage Municipal Fund (NXJ)
Nuveen
New Jersey Dividend Advantage Municipal Fund 2
(NUJ)
Nuveen
New Jersey Investment Quality Municipal Fund, Inc.
(NQJ)
1
Nuveen
New Jersey Municipal Value Fund (NJV)
Nuveen
New Jersey Premium Income Municipal Fund, Inc. (NNJ)
Nuveen
North Carolina Dividend Advantage Municipal Fund (NRB, NRB
PrC)
Nuveen
North Carolina Dividend Advantage Municipal Fund 2 (NNO,
NNO PrC)
Nuveen
North Carolina Dividend Advantage Municipal Fund 3 (NII,
NII PrC)
Nuveen
North Carolina Premium Income Municipal Fund (NNC, NNC
PrC)
Nuveen
Ohio Dividend Advantage Municipal Fund (NXI)
Nuveen
Ohio Dividend Advantage Municipal Fund 2 (NBJ)
Nuveen
Ohio Dividend Advantage Municipal Fund 3 (NVJ)
Nuveen
Ohio Quality Income Municipal Fund, Inc. (NUO)
Nuveen
Pennsylvania Municipal Value Fund (NPN)
Nuveen
Pennsylvania Dividend Advantage Municipal Fund (NXM)
Nuveen
Pennsylvania Dividend Advantage Municipal Fund 2
(NVY)
Nuveen
Pennsylvania Investment Quality Municipal Fund (NQP)
Nuveen
Pennsylvania Premium Income Municipal Fund 2
(NPY)
Nuveen
Texas Quality Income Municipal Fund (NTX)
Nuveen
Virginia Dividend Advantage Municipal Fund (NGB, NGB
PrC)
Nuveen
Virginia Dividend Advantage Municipal Fund 2 (NNB, NNB
PrC)
Nuveen
Virginia Premium Income Municipal Fund (NPV, NPV PrC)
General
Information
This Joint Proxy Statement is furnished in connection with the
solicitation by the Board of Directors or Trustees (each a
“Board” and collectively, the “Boards,” and
each Director or Trustee, a “Board Member” and
collectively, the “Board Members”) of Nuveen Arizona
Premium Income Municipal Fund, Inc. (“Arizona Premium
Income”), Nuveen California Investment Quality Municipal
Fund, Inc. (“California Investment Quality”), Nuveen
California Municipal Market Opportunity Fund, Inc.
(“California Market Opportunity”), Nuveen California
Municipal Value Fund, Inc. (“California Value”),
Nuveen California Performance Plus Municipal Fund, Inc.
(“California Performance Plus”), Nuveen California
Quality Income Municipal Fund, Inc. (“California Quality
Income”), Nuveen California Select Quality Municipal Fund,
Inc. (“California Select Quality”), Nuveen Insured
California Premium Income Municipal Fund, Inc. (“Insured
California Premium Income”), Nuveen Insured California
Premium Income Municipal Fund 2, Inc. (“Insured
California Premium Income 2”), Nuveen Michigan Premium
Income Municipal Fund, Inc. (“Michigan Premium
Income”), Nuveen Michigan Quality Income Municipal Fund,
Inc. (“Michigan Quality Income”), Nuveen New Jersey
Investment Quality Municipal Fund, Inc. (“New Jersey
Investment Quality”), Nuveen New Jersey Premium Income
Municipal Fund, Inc. (“New Jersey Premium Income”) and
Nuveen Ohio Quality Income Municipal Fund, Inc. (“Ohio
Quality Income”), each a
Minnesota Corporation
(each
referred to herein as a “Minnesota Fund” and
collectively, the “Minnesota Funds”), and Nuveen
Floating Rate Income Fund (“Floating Rate Income”),
Nuveen Floating Rate Income Opportunity Fund (“Floating
Rate Income Opportunity”), Nuveen Senior Income Fund
(“Senior Income”), Nuveen Tax-Advantaged Floating Rate
Fund (“Tax-Advantaged Floating Rate”), Nuveen Arizona
Dividend Advantage Municipal Fund (“Arizona Dividend
Advantage”), Nuveen Arizona Dividend Advantage Municipal
Fund 2 (“Arizona Dividend Advantage 2”), Nuveen
Arizona Dividend Advantage Municipal Fund 3 (“Arizona
Dividend Advantage 3”), Nuveen California Dividend
Advantage Municipal Fund (“California Dividend
Advantage”), Nuveen California Dividend Advantage Municipal
Fund 2 (“California Dividend Advantage 2”),
Nuveen California Dividend Advantage Municipal Fund 3
(“California Dividend Advantage 3”), Nuveen California
Municipal Value 2 (“California Value 2”), Nuveen
California Premium Income Municipal Fund (“California
2
Premium Income”), Nuveen Insured California Dividend
Advantage Municipal Fund (“Insured California Dividend
Advantage”), Nuveen Insured California Tax-Free Advantage
Municipal Fund (“Insured California Tax-Free
Advantage”), Nuveen Connecticut Dividend Advantage
Municipal Fund (“Connecticut Dividend Advantage”),
Nuveen Connecticut Dividend Advantage Municipal Fund 2
(“Connecticut Dividend Advantage 2”), Nuveen
Connecticut Dividend Advantage Municipal Fund 3
(“Connecticut Dividend Advantage 3”), Nuveen
Connecticut Premium Income Municipal Fund (“Connecticut
Premium Income”), Nuveen Georgia Dividend Advantage
Municipal Fund (“Georgia Dividend Advantage”), Nuveen
Georgia Dividend Advantage Municipal Fund 2 (“Georgia
Dividend Advantage 2”), Nuveen Georgia Premium Income
Municipal Fund (“Georgia Premium Income”), Nuveen
Maryland Dividend Advantage Municipal Fund (“Maryland
Dividend Advantage”), Nuveen Maryland Dividend Advantage
Municipal Fund 2 (“Maryland Dividend Advantage
2”), Nuveen Maryland Dividend Advantage Municipal
Fund 3 (“Maryland Dividend Advantage 3”), Nuveen
Maryland Premium Income Municipal Fund (“Maryland Premium
Income”), Nuveen Massachusetts Dividend Advantage Municipal
Fund (“Massachusetts Dividend Advantage”), Nuveen
Massachusetts Premium Income Municipal Fund (“Massachusetts
Premium Income”), Nuveen Insured Massachusetts Tax-Free
Advantage Municipal Fund (“Insured Massachusetts Tax-Free
Advantage”), Nuveen Michigan Dividend Advantage Municipal
Fund (“Michigan Dividend Advantage”), Nuveen Missouri
Premium Income Municipal Fund (“Missouri Premium
Income”), Nuveen New Jersey Dividend Advantage Municipal
Fund (“New Jersey Dividend Advantage”), Nuveen New
Jersey Dividend Advantage Municipal Fund 2 (“New
Jersey Dividend Advantage 2”), Nuveen New Jersey Municipal
Value Fund (“New Jersey Value”), Nuveen North Carolina
Dividend Advantage Municipal Fund (“North Carolina Dividend
Advantage”), Nuveen North Carolina Dividend Advantage
Municipal Fund 2 (“North Carolina Dividend Advantage
2”), Nuveen North Carolina Dividend Advantage Municipal
Fund 3 (“North Carolina Dividend Advantage 3”),
Nuveen North Carolina Premium Income Municipal Fund (“North
Carolina Premium Income”), Nuveen Ohio Dividend Advantage
Municipal Fund (“Ohio Dividend Advantage”), Nuveen
Ohio Dividend Advantage Municipal Fund 2 (“Ohio
Dividend Advantage 2”), Nuveen Ohio Dividend Advantage
Municipal Fund 3 (“Ohio Dividend Advantage 3”),
Nuveen Pennsylvania Municipal Value Fund (“Pennsylvania
Value”), Nuveen Pennsylvania Dividend Advantage Municipal
Fund (“Pennsylvania Dividend Advantage”), Nuveen
Pennsylvania Dividend Advantage Municipal Fund 2
(“Pennsylvania Dividend Advantage 2”), Nuveen
Pennsylvania Investment Quality Municipal Fund
(“Pennsylvania Investment Quality”), Nuveen
Pennsylvania Premium Income Municipal Fund 2
(“Pennsylvania Premium Income 2”), Nuveen Texas
Quality Income Municipal Fund (“Texas Quality
Income”), Nuveen Virginia Dividend Advantage Municipal Fund
(“Virginia Dividend Advantage”), Nuveen Virginia
Dividend Advantage Municipal Fund 2 (“Virginia
Dividend Advantage 2”) and Nuveen Virginia Premium Income
Municipal Fund (“Virginia Premium Income”), each a
Massachusetts Business Trust
(each referred to herein as
a “Massachusetts Fund” and collectively, the
“Massachusetts Funds”) (the Massachusetts Funds and
Minnesota Funds are each, a “Fund” and collectively,
the “Funds”), of proxies to be voted at the Annual
Meeting of Shareholders to be held in the 32nd Floor
Conference Room of Nuveen Investments, 333 West Wacker
Drive, Chicago, Illinois 60606, on Tuesday, November 16,
2010, at 10:30 a.m., Central time (for each Fund, an
“Annual Meeting” and collectively, the “Annual
Meetings”), and at any and all adjournments thereof.
On the matters coming before each Annual Meeting as to which a
choice has been specified by shareholders on the proxy, the
shares will be voted accordingly. If a proxy is returned and no
choice is specified, the shares will be voted
FOR
the
election of the nominees as listed in this Joint Proxy Statement
and
FOR
the elimination of the fundamental investment
policies and the
3
adoption of new fundamental investment policies for the Affected
Municipal Funds (as defined below). Shareholders of a Fund who
execute proxies may revoke them at any time before they are
voted by filing with that Fund a written notice of revocation,
by delivering a duly executed proxy bearing a later date, or by
attending the Annual Meeting and voting in person.
The Board of each Fund has determined that the use of this Joint
Proxy Statement for each Annual Meeting is in the best interest
of each Fund and its shareholders in light of the similar
matters being considered and voted on by the shareholders.
The following table indicates which shareholders are solicited
with respect to each matter:
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Matter
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Common Shares
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|
Preferred
Shares
(1)
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1(a)(i)
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|
For each Minnesota Fund, except California Value, election of
seven(7) Board Members by all shareholders.
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X
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X
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1(a)(ii)
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For each Minnesota Fund, except California Value, election of
two(2) Board Members by Preferred Shares only.
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X
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1(b)
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For California Value, election of three(3) Board Members by
all shareholders.
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X
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N/A
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1(c)(i)
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For each Massachusetts Fund, except Floating Rate Income,
Floating Rate Income Opportunity, Senior Income, Tax-Advantaged
Floating Rate, California Value 2, New Jersey Value and
Pennsylvania Value, election of two(2) Board Members by all
shareholders.
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X
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X
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1(c)(ii)
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For each Massachusetts Business Trust, except Floating Rate
Income, Floating Rate Income Opportunity, Senior Income
Tax-Advantaged Floating Rate, California Value 2, New Jersey
Value and Pennsylvania Value, election of two(2) Board
Members by Preferred Shares only.
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X
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1(d)
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For Floating Rate Income, Floating Rate Income Opportunity,
Senior Income, Tax-Advantaged Floating Rate, California Value 2,
New Jersey Value and Pennsylvania Value, election of
three(3) Board Members by all shareholders.
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X
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N/A
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2.
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For Arizona Dividend Advantage 2, California Market Opportunity,
California Quality Income, California Select Quality, Missouri
Premium Income, North Carolina Dividend Advantage and North
Carolina Dividend Advantage 2, (each an “Affected Municipal
Fund”), to approve the elimination of fundamental
investment policies and/or to approve the new fundamental
investment policies.
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X
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X
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4
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Matter
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Common Shares
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Preferred
Shares
(1)
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2(a)
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For each Affected Municipal Fund, to approve the elimination of
the Fund’s fundamental investment policies relating to
investments in municipal securities and below investment grade
securities.
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X
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X
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2(b)
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For each Affected Municipal Fund, to approve the new fundamental
policy relating to investments in municipal securities.
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X
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X
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2(c)
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For California Market Opportunity, California Quality Income,
California Select Quality and Missouri Premium Income (each a
“Premium/Quality Fund”), to approve the elimination of
the Fund’s fundamental policy relating to commodities.
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X
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X
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2(d)
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For each Premium/Quality Fund, to approve the new fundamental
policy relating to commodities.
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X
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X
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2(e)
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For each Premium/Quality Fund, to approve the elimination of the
Fund’s fundamental policies relating to derivatives and
short sales.
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X
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X
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2(f)
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For each Premium/Quality Fund, to approve the elimination of the
Fund’s fundamental policy prohibiting investment in other
investment companies.
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X
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X
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(1)
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Municipal Term Preferred Shares for California Dividend
Advantage 3, Connecticut Dividend Advantage, Connecticut
Dividend Advantage 2, Connecticut Dividend Advantage 3,
Connecticut Premium Income, Georgia Dividend Advantage, Georgia
Dividend Advantage 2, Georgia Premium Income, Maryland Dividend
Advantage, Maryland Dividend Advantage 2, Maryland Dividend
Advantage 3, Maryland Premium Income, Massachusetts Dividend
Advantage, Massachusetts Premium Income, Insured Massachusetts
Tax-Free Advantage, North Carolina Dividend Advantage, North
Carolina Dividend Advantage 2, North Carolina Dividend Advantage
3, North Carolina Premium Income, Virginia Dividend Advantage,
Virginia Dividend Advantage 2 and Virginia Premium Income;
Variable Rate Demand Preferred Shares for California Market
Opportunity, California Select Quality, California Quality
Income, Insured California Premium Income, Insured California
Tax-Free Advantage, New Jersey Investment Quality, New Jersey
Premium Income, Pennsylvania Investment Quality, and
Pennsylvania Premium Income 2; and Municipal Auction Rate
Cumulative Preferred Shares for each other municipal fund,
except California Value, are referred to as “Preferred
Shares.” California Value, California Value 2, New Jersey
Value and Pennsylvania Value have not issued Preferred Shares.
Floating Rate Income, Floating Rate Income Opportunity, Senior
Income and
Tax-Advantaged
Floating Rate do not have any Preferred Shares outstanding.
|
A quorum of shareholders is required to take action at each
Annual Meeting. A majority of the shares entitled to vote at
each Annual Meeting, represented in person or by proxy, will
constitute a quorum of shareholders at that Annual Meeting,
except that for the election of the two Board Member nominees to
be elected by holders of Preferred Shares of each Fund (except
California Value, California Value 2, New Jersey Value,
Pennsylvania Value, Floating Rate Income, Floating Rate Income
Opportunity, Senior Income and Tax-Advantaged Floating Rate),
33
1
/
3
%
of the Preferred Shares entitled to vote and represented in
person or by proxy will constitute a quorum. Votes cast by proxy
or in person at each Annual Meeting will be tabulated by the
inspectors of election appointed for that Annual Meeting. The
inspectors of election will determine whether or
5
not a quorum is present at the Annual Meeting. The inspectors of
election will treat abstentions and “broker non-votes”
(i.e., shares held by brokers or nominees, typically in
“street name,” as to which (i) instructions have
not been received from the beneficial owners or persons entitled
to vote and (ii) the broker or nominee does not have
discretionary voting power on a particular matter) as present
for purposes of determining a quorum.
For each Fund, the affirmative vote of a plurality of the shares
present and entitled to vote at the Annual Meeting will be
required to elect the Board Members of that Fund. For purposes
of determining the approval of the proposal to elect nominees
for each Fund, abstentions and broker non-votes will have no
effect on the election of Board Members. For purposes of
determining the approval of the elimination of the fundamental
investment policies and the approval of the new fundamental
investment policies for the Affected Municipal Funds, a change
will only be consummated if approved by the affirmative vote of
the holders of a majority of the outstanding shares of a
Fund’s Common Shares and Preferred Shares, voting together
as a single class, and by the affirmative vote of a majority of
the Fund’s outstanding Preferred Shares, voting as a
separate class. For this purpose, a majority of the outstanding
shares means, as defined in the Investment Company Act of 1940,
as amended (the “1940 Act”), (a) 67% or more
of the voting securities present at the Annual Meeting, if the
holders of more than 50% of the outstanding voting securities
are present or represented by proxy; or (b) more than 50%
of the outstanding voting securities, whichever is less. For
purposes of determining the approval of the elimination of the
fundamental investment policies and the approval of the new
fundamental investment policies, abstentions and broker
non-votes will have the same effect as shares voted against the
proposal.
Preferred Shares held in “street name” as to which
voting instructions have not been received from the beneficial
owners or persons entitled to vote as of one business day before
the Annual Meeting, or, if adjourned, one business day before
the day to which the Annual Meeting is adjourned, and that would
otherwise be treated as “broker non-votes” may,
pursuant to Rule 452 of the New York Stock Exchange, be
voted by the broker on the proposal in the same proportion as
the votes cast by all holders of Preferred Shares as a class who
have voted on the proposal or in the same proportion as the
votes cast by all holders of Preferred Shares of the Fund who
have voted on that item. Rule 452 permits proportionate
voting of Preferred Shares with respect to a particular item if,
among other things, (i) a minimum of 30% of the Preferred
Shares or shares of a series of Preferred Shares outstanding has
been voted by the holders of such shares with respect to such
item and (ii) less than 10% of the Preferred Shares or
shares of a series of Preferred Shares outstanding has been
voted by the holders of such shares against such item. For the
purpose of meeting the 30% test, abstentions will be treated as
shares “voted” and, for the purpose of meeting the 10%
test, abstentions will not be treated as shares
“voted” against the item.
Those persons who were shareholders of record at the close of
business on September 17, 2009 will be entitled to one vote
for each share held and a proportionate fractional vote for each
fractional share held. As of September 17, 2010, the shares
of the Funds were issued and outstanding as follows:
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Fund
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Ticker Symbol*
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Common Shares
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Preferred Shares
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Floating Rate Income
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JFR
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47,297,036
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N/A
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Floating Rate Income Opportunity
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JRO
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28,413,818
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N/A
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Senior Income
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NSL
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29,959,936
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N/A
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6
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Fund
|
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Ticker Symbol*
|
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Common Shares
|
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Preferred Shares
|
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Tax-Advantaged Floating Rate
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JFP
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13,957,637
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N/A
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Arizona Dividend Advantage
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NFZ
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1,548,112
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Series T
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424
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Arizona Dividend Advantage 2
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NKR
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2,439,549
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Series W
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665
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Arizona Dividend Advantage 3
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NXE
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3,066,030
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Series M
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736
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Arizona Premium Income
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NAZ
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4,469,952
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Series TH
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1,115
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California Dividend Advantage
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NAC
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23,480,254
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Series TH
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2,710
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Series F
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2,711
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California Dividend Advantage 2
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NVX
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14,746,722
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Series M
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1,875
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Series F
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1,876
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California Dividend Advantage 3
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NZH
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24,127,919
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Series M
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1,389
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Series TH
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1,391
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NZH PrC
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8,625,000
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California Investment Quality
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NQC
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13,580,232
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Series M
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3,051
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Series W
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746
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California Market Opportunity
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NCO
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8,143,348
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Series 1
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498
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California Value
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NCA
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25,253,681
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N/A
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California Value 2
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NCB
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3,287,900
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N/A
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California Performance Plus
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NCP
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12,937,442
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Series T
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1,357
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Series W
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500
|
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Series F
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1,357
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California Premium Income
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NCU
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5,733,088
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Series M
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1,357
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California Quality Income
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NUC
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22,002,860
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Series 1
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1,581
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California Select Quality
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NVC
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23,104,550
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Series 1
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1,589
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Insured California Dividend Advantage
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NKL
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15,256,178
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Series T
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2,075
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Series F
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2,075
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Insured California Premium Income
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NPC
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6,442,132
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Series 1
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427
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Insured California Premium Income 2
|
|
NCL
|
|
|
12,665,422
|
|
|
Series T
|
|
|
1,467
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series TH
|
|
|
1,466
|
|
|
|
|
|
|
|
|
|
|
Insured California Tax-Free Advantage
|
|
NKX
|
|
|
5,887,262
|
|
|
Series 1
|
|
|
355
|
|
|
|
|
|
|
|
|
|
|
Connecticut Dividend Advantage
|
|
NFC
|
|
|
2,585,673
|
|
|
NFC PrC
|
|
|
2,047,000
|
|
|
|
|
|
|
|
|
|
|
Connecticut Dividend Advantage 2
|
|
NGK
|
|
|
2,319,813
|
|
|
NGK PrC
|
|
|
1,695,000
|
|
|
|
|
|
|
|
|
|
|
Connecticut Dividend Advantage 3
|
|
NGO
|
|
|
4,367,134
|
|
|
NGO PrC
|
|
|
3,200,000
|
|
|
|
|
|
|
|
|
|
|
Connecticut Premium Income
|
|
NTC
|
|
|
5,365,029
|
|
|
Series TH
|
|
|
629
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NTC PrC
|
|
|
1,830,000
|
|
|
|
|
|
|
|
|
|
|
Georgia Dividend Advantage
|
|
NZX
|
|
|
1,971,388
|
|
|
NZX PrC
|
|
|
1,434,000
|
|
|
|
|
|
|
|
|
|
|
Georgia Dividend Advantage 2
|
|
NKG
|
|
|
4,555,299
|
|
|
NKG PrC
|
|
|
3,226,500
|
|
|
|
|
|
|
|
|
|
|
Georgia Premium Income
|
|
NPG
|
|
|
3,806,285
|
|
|
NPG PrC
|
|
|
2,834,000
|
|
|
|
|
|
|
|
|
|
|
Maryland Dividend Advantage
|
|
NFM
|
|
|
4,197,406
|
|
|
NFM PrC
|
|
|
2,648,500
|
|
|
|
|
|
|
|
|
|
|
Maryland Dividend Advantage 2
|
|
NZR
|
|
|
4,200,783
|
|
|
NZR PrC
|
|
|
2,730,000
|
|
|
|
|
|
|
|
|
|
|
Maryland Dividend Advantage 3
|
|
NWI
|
|
|
5,365,969
|
|
|
Series T
|
|
|
593
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NWI PrC
|
|
|
2,070,000
|
|
|
|
|
|
|
|
|
|
|
Maryland Premium Income
|
|
NMY
|
|
|
10,648,975
|
|
|
Series W
|
|
|
585
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series TH
|
|
|
734
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NMY PrC
|
|
|
3,877,500
|
|
|
|
|
|
|
|
|
|
|
Massachusetts Dividend Advantage
|
|
NMB
|
|
|
1,964,703
|
|
|
NMB PrC
|
|
|
1,472,500
|
|
|
|
|
|
|
|
7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fund
|
|
Ticker Symbol*
|
|
Common Shares
|
|
|
Preferred Shares
|
|
|
|
|
|
|
|
|
Massachusetts Premium Income
|
|
NMT
|
|
|
4,771,862
|
|
|
Series TH
|
|
|
576
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NMT PrC
|
|
|
2,021,000
|
|
|
|
|
|
|
|
|
|
|
Insured Massachusetts Tax-Free Adv.
|
|
NGX
|
|
|
2,726,564
|
|
|
NGX PrC
|
|
|
2,207,500
|
|
|
|
|
|
|
|
|
|
|
Michigan Dividend Advantage
|
|
NZW
|
|
|
2,054,786
|
|
|
Series W
|
|
|
571
|
|
|
|
|
|
|
|
|
|
|
Michigan Premium Income
|
|
NMP
|
|
|
7,609,748
|
|
|
Series M
|
|
|
805
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series TH
|
|
|
1,343
|
|
|
|
|
|
|
|
|
|
|
Michigan Quality Income
|
|
NUM
|
|
|
11,561,053
|
|
|
Series TH
|
|
|
2,972
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series F
|
|
|
521
|
|
|
|
|
|
|
|
|
|
|
Missouri Premium Income
|
|
NOM
|
|
|
2,315,620
|
|
|
Series TH
|
|
|
640
|
|
|
|
|
|
|
|
|
|
|
New Jersey Dividend Advantage
|
|
NXJ
|
|
|
6,569,912
|
|
|
Series T
|
|
|
1,757
|
|
|
|
|
|
|
|
|
|
|
New Jersey Dividend Advantage 2
|
|
NUJ
|
|
|
4,522,452
|
|
|
Series W
|
|
|
1,249
|
|
|
|
|
|
|
|
|
|
|
New Jersey Investment Quality
|
|
NQJ
|
|
|
20,453,722
|
|
|
Series 1
|
|
|
1,443
|
|
|
|
|
|
|
|
|
|
|
New Jersey Value
|
|
NJV
|
|
|
1,560,787
|
|
|
N/A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Jersey Premium Income
|
|
NNJ
|
|
|
12,036,596
|
|
|
Series 1
|
|
|
886
|
|
|
|
|
|
|
|
|
|
|
North Carolina Dividend Advantage
|
|
NRB
|
|
|
2,270,350
|
|
|
NRB PrC
|
|
|
1,660,000
|
|
|
|
|
|
|
|
|
|
|
North Carolina Dividend Advantage 2
|
|
NNO
|
|
|
3,752,126
|
|
|
NNO PrC
|
|
|
2,970,000
|
|
|
|
|
|
|
|
|
|
|
North Carolina Dividend Advantage 3
|
|
NII
|
|
|
3,936,278
|
|
|
NII PrC
|
|
|
2,872,500
|
|
|
|
|
|
|
|
|
|
|
North Carolina Premium Income
|
|
NNC
|
|
|
6,360,839
|
|
|
Series TH
|
|
|
862
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NNC PrC
|
|
|
2,430,000
|
|
|
|
|
|
|
|
|
|
|
Ohio Dividend Advantage
|
|
NXI
|
|
|
4,245,259
|
|
|
Series W
|
|
|
1,160
|
|
|
|
|
|
|
|
|
|
|
Ohio Dividend Advantage 2
|
|
NBJ
|
|
|
3,121,953
|
|
|
Series F
|
|
|
864
|
|
|
|
|
|
|
|
|
|
|
Ohio Dividend Advantage 3
|
|
NVJ
|
|
|
2,157,833
|
|
|
Series T
|
|
|
620
|
|
|
|
|
|
|
|
|
|
|
Ohio Quality Income
|
|
NUO
|
|
|
9,746,032
|
|
|
Series M
|
|
|
645
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series TH
|
|
|
1,327
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series TH2
|
|
|
948
|
|
|
|
|
|
|
|
|
|
|
Pennsylvania Value
|
|
NPN
|
|
|
1,219,352
|
|
|
N/A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pennsylvania Dividend Advantage
|
|
NXM
|
|
|
3,321,984
|
|
|
Series T
|
|
|
900
|
|
|
|
|
|
|
|
|
|
|
Pennsylvania Dividend Advantage 2
|
|
NVY
|
|
|
3,726,116
|
|
|
Series M
|
|
|
920
|
|
|
|
|
|
|
|
|
|
|
Pennsylvania Investment Quality
|
|
NQP
|
|
|
16,080,898
|
|
|
Series 1
|
|
|
1,125
|
|
|
|
|
|
|
|
|
|
|
Pennsylvania Premium Income 2
|
|
NPY
|
|
|
15,595,551
|
|
|
Series 1
|
|
|
1,000
|
|
|
|
|
|
|
|
|
|
|
Texas Quality Income
|
|
NTX
|
|
|
9,535,540
|
|
|
Series M
|
|
|
716
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series TH
|
|
|
1,886
|
|
|
|
|
|
|
|
|
|
|
Virginia Dividend Advantage
|
|
NGB
|
|
|
3,141,240
|
|
|
NGB PrC
|
|
|
2,280,000
|
|
|
|
|
|
|
|
|
|
|
Virginia Dividend Advantage 2
|
|
NNB
|
|
|
5,754,362
|
|
|
NNB PrC
|
|
|
4,320,000
|
|
|
|
|
|
|
|
|
|
|
Virginia Premium Income
|
|
NPV
|
|
|
8,992,818
|
|
|
Series T
|
|
|
333
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series TH
|
|
|
689
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NPV PrC
|
|
|
3,220,500
|
|
|
|
|
|
|
|
|
|
|
|
|
*
|
|
The Common Shares of all of the
Funds are listed on the NYSE Amex, except JRO, NSL, JFP, NAZ,
NAC, NQC, NCO, NCA, NCP, NUC, NVC, NPC, NCL, NTC, NMY, NMT, NMP,
NUM, NQJ, NNJ, NNC, NUO, NQP, NPY, NTX and NPV, which are listed
on the New York Stock Exchange (“NYSE”). The Preferred
Shares of all of the Funds with Muni Term Preferred Shares are
listed on the NYSE, except NZX PrC and NMB PrC are listed on the
NYSE Amex.
|
8
|
|
|
|
1.
|
Election
of Board Members
|
Minnesota
Funds
At the Annual Meeting of each Minnesota Fund, except California
Value, Board Members are to be elected to serve until the next
annual meeting or until their successors have been duly elected
and qualified. Under the terms of each Minnesota Fund’s
organizational documents (except California Value), under normal
circumstances, holders of Preferred Shares are entitled to elect
two (2) Board Members, and the remaining Board Members are
to be elected by holders of Common Shares and Preferred Shares,
voting together as a single class. Pursuant to the
organizational documents of California Value, its Board is
divided into three classes, with each class being elected to
serve until the third succeeding annual meeting subsequent to
their election or thereafter in each case when their respective
successors are duly elected and qualified. For California Value,
three (3) Board Members are nominated to be elected at this
Annual Meeting.
(a) For each Minnesota Fund, except California
Value:
|
|
|
|
|
|
(i)
|
seven (7) Board Members are to be elected by holders of
Common Shares and Preferred Shares, voting together as a single
class. Board Members Amboian, Bremner, Evans, Kundert,
Stockdale, Stone and Toth are nominees for election by all
shareholders.
|
|
|
|
|
(ii)
|
two (2) Board Members are to be elected by holders of
Preferred Shares, each series voting together as a single class.
Board Members Hunter and Schneider are nominees for election by
holders of Preferred Shares.
|
|
|
|
|
|
|
(b)
|
For California Value:
three (3) Board Members are to
be elected by all shareholders.
|
With respect to California Value, Board Members Hunter,
Stockdale and Stone have been designated as Class I Board
Members and as nominees for Board members for a term expiring at
the annual meeting of shareholders in 2013 or until their
successors have been duly elected and qualified. Board Members
Amboian, Bremner, Evans, Kundert, Schneider and Toth are current
and continuing Board Members. Board Members Amboian, Kundert and
Toth have been designated as Class II Board Members for a
term expiring at the annual meeting of shareholders in 2011 or
until their successors have been duly elected and qualified.
Board Members Bremner, Evans and Schneider have been designated
as Class III Board Members for a term expiring at the
annual meeting of shareholders in 2012 or until their successors
have been duly elected and qualified.
Massachusetts
Funds
Pursuant to the organizational documents of each Massachusetts
Fund, each Board is divided into three classes, Class I,
Class II and Class III, to be elected by the holders
of the outstanding Common Shares and any outstanding Preferred
Shares, voting together as a single class to serve until the
third succeeding annual meeting subsequent to their election or
thereafter, in each case until their successors have been duly
elected and qualified. For each Massachusetts Fund, under normal
circumstances, holders of Preferred Shares are entitled to elect
two (2) Board Members. The Board Members elected by holders
of Preferred Shares will be elected
9
to serve until the next annual meeting or until their successors
have been duly elected and qualified.
|
|
|
|
|
|
(c)
|
For each Massachusetts Fund, except Floating Rate Income,
Floating Rate Income Opportunity, Senior Income, Tax-Advantaged
Floating Rate, California Value 2, New Jersey Value and
Pennsylvania Value:
|
|
|
|
|
|
|
(i)
|
two (2) Board Members are to be elected by holders of
Common Shares and Preferred Shares, voting together as a single
class. Board Members Stockdale and Stone have been designated as
Class I Board Members and as nominees for Board Members for
a term expiring at the annual meeting of shareholders in 2013 or
until their successors have been duly elected and qualified.
Board Members Amboian, Bremner, Evans, Kundert and Toth are
current and continuing Board Members. Board Members Amboian,
Kundert and Toth have been designated as Class II Board
Members for a term expiring at the annual meeting of
shareholders in 2011 or until their successors have been duly
elected and qualified. Board Members Bremner and Evans have been
designated as Class III Board Members for a term expiring
at the annual meeting of shareholders in 2012 or until their
successors have been duly elected and qualified.
|
|
|
|
|
(ii)
|
two (2) Board Members are to be elected by holders of
Preferred Shares, voting separately as a single class. Board
Members Hunter and Schneider are nominees for election by
holders of Preferred Shares for a term expiring at the next
annual meeting or until their successors have been duly elected
and qualified.
|
|
|
|
|
|
|
(d)
|
For Floating Rate Income, Floating Rate Income Opportunity,
Senior Income, Tax-Advantaged Floating Rate, California Value 2,
New Jersey Value and Pennsylvania Value:
three
(3) Board Members are to be elected by all shareholders.
|
With respect to Floating Rate Income, Floating Rate Income
Opportunity, Senior Income, Tax-Advantaged Floating Rate,
California Value 2, New Jersey Value and Pennsylvania Value,
Board Members Hunter, Stockdale and Stone have been designated
as Class I Board Members and as nominees for Board Members
for a term expiring at the annual meeting of shareholders in
2013 or until their successors have been duly elected and
qualified. Board Members Amboian, Bremner, Evans, Kundert,
Schneider and Toth are current and continuing Board Members.
Board Members Amboian, Kundert and Toth have been designated as
Class II Board Members for a term expiring at the annual
meeting of shareholders in 2011 or until their successors have
been duly elected and qualified. Board Members Bremner, Evans
and Schneider have been designated as Class III Board
Members for a term expiring at the annual meeting of
shareholders in 2012 or until their successors have been duly
elected and qualified.
It is the intention of the persons named in the enclosed proxy
to vote the shares represented thereby for the election of the
nominees listed in the table below unless the proxy is marked
otherwise. Each of the nominees has agreed to serve as a Board
Member of each Fund if elected. However, should any nominee
become unable or unwilling to accept nomination for election,
the proxies will be voted for substitute nominees, if any,
designated by that Fund’s present Board.
10
For each Minnesota Fund, except for California Value, all Board
Member nominees, were last elected to each Fund’s Board at
the annual meeting of shareholders held on November 30,
2009 and adjourned to January 12, 2010 (for Michigan
Quality, Board Member nominees were last elected to the Board on
November 30, 2009).
For California Value, Board Members Bremner, Evans and Schneider
were last elected as Class III Board Members at the annual
meeting of shareholders held on November 30, 2009. Board
Members Amboian, Kundert and Toth were last elected as
Class II Board Members of the Board of California Value at
the annual meeting of shareholders held on November 18,
2008 and adjourned to January 13, 2009. Board Member Hunter
was last elected as a Class I Board Member of the Board of
California Value at the annual meeting of shareholders held on
November 18, 2008 and adjourned to January 13, 2009.
Board Members Stockdale and Stone were last elected as
Class I Board Members of the Board of California Value at
the annual meeting of shareholders held on December 18,
2007.
For each Massachusetts Fund, except Floating Rate Income,
Floating Rate Income Opportunity, Senior Income, Tax-Advantaged
Floating Rate, Georgia Dividend Advantage, Maryland Premium
Income, North Carolina Dividend Advantage 3, Virginia Dividend
Advantage, Virginia Dividend Advantage 2, California Value 2,
New Jersey Value and Pennsylvania Value, Board Members Bremner
and Evans were last elected to each Fund’s Board as
Class III Board Members at the annual meeting of
shareholders held on November 30, 2009 and adjourned to
January 12, 2010. For Georgia Dividend Advantage, Maryland
Premium Income, North Carolina Dividend Advantage 3, Virginia
Dividend Advantage and Virginia Dividend Advantage 2, Board
Members Bremner and Evans were last elected to each Fund’s
Board at the annual meeting of shareholders held on
November 30, 2009. For Floating Rate Income, Floating Rate
Income Opportunity, Senior Income and Tax-Advantaged Floating
Rate, Board Members Bremner and Evans were last elected to each
Fund’s Board as Class III Board Members at the annual
meeting of shareholders held on November 30, 2009.
For each Massachusetts Fund, except California Value 2, New
Jersey Value and Pennsylvania Value, Board Members Amboian,
Kundert and Toth were last elected to each Fund’s Board as
Class II Board Members at the annual meeting of
shareholders held on November 18, 2008 and adjourned to
January 13, 2009 and for Insured California Tax-Free
Advantage adjourned to March 17, 2009 and March 18,
2009.
For each Massachusetts Fund, except Floating Rate Income,
Floating Rate Income Opportunity, Senior Income, Tax-Advantaged
Floating Rate, Georgia Dividend Advantage, Maryland Premium
Income, North Carolina Dividend Advantage 3, Virginia Dividend
Advantage, Virginia Dividend Advantage 2, California Value 2,
New Jersey Value and Pennsylvania Value, Board Members Hunter
and Schneider were last elected to each Fund’s Board at the
annual meeting of shareholders held on November 30, 2009
and adjourned to January 12, 2010. For Georgia Dividend
Advantage, Maryland Premium Income, North Carolina Dividend
Advantage 3, Virginia Dividend Advantage and Virginia Dividend
Advantage 2, Board Members Hunter and Schneider were last
elected to each Fund’s Board at the annual meeting of
shareholders held on November 30, 2009. For Floating Rate
Income, Floating Rate Income Opportunity, Senior Income and
Tax-Advantaged Floating Rate, Board Members Hunter and Schneider
were last elected to each Fund’s Board as Class I and
Class III Board Members, respectively, at the annual
meeting of shareholders held on November 30, 2009.
11
For each Massachusetts Fund, except Floating Rate Income,
Floating Rate Income Opportunity, Tax-Advantaged Floating Rate,
California Dividend Advantage, California Dividend Advantage 2,
California Dividend Advantage 3, California Value 2, California
Premium Income, Insured California Dividend Advantage, Insured
California Tax-Free Advantage, Maryland Dividend Advantage 3,
New Jersey Value, New Jersey Dividend Advantage and Pennsylvania
Value, Board Members Stockdale and Stone were last elected to
each Fund’s Board as Class I Board Members at the
annual meeting of shareholders held on October 12, 2007.
For Floating Rate Income, Floating Rate Income Opportunity and
Maryland Dividend Advantage 3, Board Members Stockdale and Stone
were last elected to each Fund’s Board as Class I
Board Members at the annual meeting of shareholders held on
October 12, 2007, which was adjourned to October 22,
2007. For New Jersey Dividend Advantage, Board Members Stockdale
and Stone were last elected to each Fund’s Board as
Class I Board Members at the annual meeting of shareholders
held on October 12, 2007 and adjourned to October 22,
2007 and November 8, 2007. For Tax-Advantaged Floating
Rate, Board Members Stockdale and Stone were last elected to the
Fund’s Board as Class I Board Members at the annual
meeting of shareholders held on October 12, 2007 and
adjourned to October 22, 2007, November 12, 2007 and
November 30, 2007.
For California Dividend Advantage, California Dividend Advantage
2, California Dividend Advantage 3, California Premium Income,
Insured California Dividend Advantage and Insured California
Tax-Free Advantage, Board Members Stockdale and Stone were last
elected to each Fund’s Board as Class I Board Members
at the annual meeting of shareholders held on December 18,
2007.
For California Value 2, New Jersey Value and Pennsylvania Value,
all of the Board Members were elected by the initial shareholder
of the Fund, Nuveen Asset Management (the “Adviser”),
on February 26, 2009.
Other than Mr. Amboian (for all Funds), all Board Member
nominees are not “interested persons” as defined in
the 1940 Act, of the Funds or of the Adviser and have never been
an employee or director of Nuveen Investments, Inc.
(“Nuveen”), the Adviser’s parent company, or any
affiliate. Accordingly, such Board Members are deemed
“Independent Board Members.”
The Board unanimously recommends that shareholders vote FOR
the election of the nominees named below.
12
Board
Nominees/Board Members
|
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|
|
|
|
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|
|
Number of
|
|
|
|
|
|
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|
|
|
|
|
|
Portfolios
|
|
|
|
|
|
|
|
|
|
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|
|
in Fund
|
|
|
Other
|
|
|
|
|
|
|
|
|
|
Complex
|
|
|
Director-
|
|
|
|
Position(s)
|
|
Term of Office
|
|
|
|
Overseen
|
|
|
ships Held
|
Name, Address
|
|
Held with
|
|
and Length
|
|
Principal Occupation(s)
|
|
by Board
|
|
|
by Board
|
|
and Birth Date
|
|
Fund
|
|
of Time
Served
(1)
|
|
During Past 5 Years
|
|
Member
|
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|
Member
|
|
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|
|
Nominees/Board Members who are not interested persons of the
Funds
|
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Robert P. Bremner*
c/o Nuveen
Investments, Inc.
333 West Wacker Drive
Chicago, IL 60606
(8/22/40)
|
|
Chairman of the Board, Board Member Nominee
|
|
Term: Annual or Class III Board Member until 2012
Length of Service: Since 1996; Chairman of the Board Since 2008; Lead Independent Director (2005-2008)
|
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Private Investor and Management Consultant; Treasurer and
Director, Humanities Council of Washington D.C.
|
|
|
200
|
|
|
N/A
|
|
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|
|
|
|
|
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|
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Jack B. Evans
c/o Nuveen
Investments, Inc.
333 West Wacker Drive
Chicago, IL 60606
(10/22/48)
|
|
Board Member Nominee
|
|
Term: Annual or Class III Board Member until 2012
Length of Service: Since 1999
|
|
President, The Hall-Perrine Foundation, a private philanthropic
corporation (since 1996); Director and Chairman, United Fire
Group, a publicly held company; President Pro Tem of the Board
of Regents for the State of Iowa University System; Director,
Gazette Companies; Life Trustee of Coe College and Iowa College
Foundation; formerly, Director, Alliant Energy; formerly,
Director, Federal Reserve Bank of Chicago; formerly, President
and Chief Operating Officer, SCI Financial Group, Inc., a
regional financial services firm.
|
|
|
200
|
|
|
See Principal Occupation Description
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
13
|
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|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
Number of
|
|
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|
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|
|
|
|
|
|
|
|
Portfolios
|
|
|
|
|
|
|
|
|
|
|
|
|
in Fund
|
|
|
Other
|
|
|
|
|
|
|
|
|
|
Complex
|
|
|
Director-
|
|
|
|
Position(s)
|
|
Term of Office
|
|
|
|
Overseen
|
|
|
ships Held
|
Name, Address
|
|
Held with
|
|
and Length
|
|
Principal Occupation(s)
|
|
by Board
|
|
|
by Board
|
|
and Birth Date
|
|
Fund
|
|
of Time
Served
(1)
|
|
During Past 5 Years
|
|
Member
|
|
|
Member
|
|
|
|
|
William C. Hunter
c/o Nuveen
Investments, Inc.
333 West Wacker Drive
Chicago, IL 60606
(3/6/48)
|
|
Board Member Nominee
|
|
Term: Annual or Class I Board Member until 2010
Length of Service: Since 2004
|
|
Dean, Tippie College of Business, University of Iowa (since
2006); Director (since 2005) of Beta Gamma Sigma International
Society; Director (since 2004) of Xerox Corporation, a publicly
held company; formerly, (2003-2006), Dean and Distinguished
Professor of Finance, School of Business at the University of
Connecticut (2003-2006); formerly, Senior Vice President and
Director of Research at the Federal Reserve Bank of Chicago
(1995-2003); formerly, Director, SS&C Technologies, Inc.
(May 2005-October 2005); formerly, Director, Credit Research
Center at Georgetown University (1997-2007).
|
|
|
200
|
|
|
See Principal Occupation Description
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
David J. Kundert*
c/o Nuveen
Investments, Inc.
333 West Wacker Drive
Chicago, IL 60606
(10/28/42)
|
|
Board Member Nominee
|
|
Term: Annual or Class II Board Member until 2011
Length of Service: Since 2005
|
|
Director, Northwestern Mutual Wealth Management Company; retired
(2004) as Chairman, JPMorgan Fleming Asset Management, President
and CEO, Banc One Investment Advisors Corporation, and
President, One Group Mutual Funds; prior thereto, Executive Vice
President, Banc One Corporation and Chairman and CEO, Banc One
Investment Management Group; Board of Regents, Luther College;
member of the Wisconsin Bar Association; member of Board of
Directors, Friends of Boerner Botanical Gardens; member of Board
of Directors and member of Investment Committee, Greater
Milwaukee Foundation.
|
|
|
200
|
|
|
See Principal Occupation Description
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolios
|
|
|
|
|
|
|
|
|
|
|
|
|
in Fund
|
|
|
Other
|
|
|
|
|
|
|
|
|
|
Complex
|
|
|
Director-
|
|
|
|
Position(s)
|
|
Term of Office
|
|
|
|
Overseen
|
|
|
ships Held
|
Name, Address
|
|
Held with
|
|
and Length
|
|
Principal Occupation(s)
|
|
by Board
|
|
|
by Board
|
|
and Birth Date
|
|
Fund
|
|
of Time
Served
(1)
|
|
During Past 5 Years
|
|
Member
|
|
|
Member
|
|
|
|
|
William J. Schneider*
c/o Nuveen
Investments, Inc.
333 West Wacker Drive
Chicago, IL 60606
(9/24/44)
|
|
Board Member Nominee
|
|
Term: Annual or Class III Board Member until 2012
Length of Service: Since 1996
|
|
Chairman, of Miller-Valentine Partners Ltd., a real estate
investment company; formerly, Senior Partner and Chief Operating
Officer (retired, 2004) of Miller-Valentine Group; Member,
University of Dayton Business School Advisory Council; Member,
Mid-America Health System Board; formerly, Member and Chair,
Dayton Philharmonic Orchestra Board; formerly, Member, Business
Advisory Council, Cleveland Federal Reserve Bank.
|
|
|
200
|
|
|
See Principal Occupation Description
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Judith M. Stockdale
c/o Nuveen
Investments, Inc.
333 West Wacker Drive
Chicago, IL 60606
(12/29/47)
|
|
Board Member Nominee
|
|
Term: Annual or Class I Board Member until 2010
Length of Service: Since 1997
|
|
Executive Director, Gaylord and Dorothy Donnelley Foundation
(since 1994); prior thereto, Executive Director, Great Lakes
Protection Fund (from 1990 to 1994).
|
|
|
200
|
|
|
N/A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carole E. Stone*
c/o Nuveen
Investments, Inc.
333 West Wacker Drive
Chicago, IL 60606
(6/28/47)
|
|
Board Member Nominee
|
|
Term: Annual or Class I Board Member until 2010
Length of Service: Since 2007
|
|
Director, C2 Options Exchange, Incorporated (since 2009);
Director, Chicago Board Options Exchange (since 2006);
Commissioner, New York State Commission on Public Authority
Reform (since 2005); formerly, Chair, New York Racing
Association Oversight Board (2005-2007).
|
|
|
200
|
|
|
See Principal Occupation Description
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
|
|
|
|
|
|
|
|
|
|
|
|
|
Portfolios
|
|
|
|
|
|
|
|
|
|
|
|
|
in Fund
|
|
|
Other
|
|
|
|
|
|
|
|
|
|
Complex
|
|
|
Director-
|
|
|
|
Position(s)
|
|
Term of Office
|
|
|
|
Overseen
|
|
|
ships Held
|
Name, Address
|
|
Held with
|
|
and Length
|
|
Principal Occupation(s)
|
|
by Board
|
|
|
by Board
|
|
and Birth Date
|
|
Fund
|
|
of Time
Served
(1)
|
|
During Past 5 Years
|
|
Member
|
|
|
Member
|
|
|
|
|
Terence J. Toth*
c/o Nuveen
Investments, Inc.
333 West Wacker Drive
Chicago, IL 60606
(9/29/59)
|
|
Board Member Nominee
|
|
Term: Annual or Class II Board Member until 2011
Length of Service: Since 2008
|
|
Director, Legal & General Investment Management America,
Inc. (since 2008); Managing Partner, Promus Capital (since
2008); formerly CEO and President, Northern Trust Global
Investments (2004-2007); Executive Vice President, Quantitative
Management & Securities Lending (2000-2004); prior thereto,
various positions with Northern Trust Company (since 1994);
Member: Goodman Theatre Board (since 2004), Chicago Fellowship
Board (since 2005), University of Illinois Leadership Council
Board (since 2007) and Catalyst Schools of Chicago Board (since
2008); formerly, Member: Northern Trust Mutual Funds Board
(2005-2007), Northern Trust Global Investments Board
(2004-2007), Northern Trust Japan Board (2004-2007), Northern
Trust Securities Inc. Board (2003-2007) and Northern Trust Hong
Kong Board (1997-2004).
|
|
|
200
|
|
|
See Principal Occupation Description
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
John P. Amboian(2)
333 West Wacker Drive
Chicago, IL 60606
(6/14/61)
|
|
Board Member
|
|
Term: Annual or Class II Board Member until 2011
Length of Service: Since 2008
|
|
Chief Executive Officer (since July 2007), Director (since 1999)
and Chairman (since 2007)of Nuveen Investments, Inc.; Chief
Executive Officer (since 2007) of Nuveen Asset Management,
Nuveen Investments Advisers, Inc.; President (since 2005) of
Nuveen Commodities Asset Management, LLC.
|
|
|
200
|
|
|
See Principal Occupation Description
|
|
|
|
|
|
|
|
|
|
*
|
|
Also serves as a trustee of the
Nuveen Diversified Commodity Fund, a Nuveen-sponsored commodity
pool that has filed a registration statement on
Form S-1
with the SEC for a proposed initial public offering. The
S-1
has not
been declared effective and the commodity pool has not commenced
operations.
|
16
|
|
|
|
|
(1)
|
|
Length of Time Served indicates the
year in which the individual became a Board Member of a fund in
the Nuveen fund complex.
|
|
|
|
(2)
|
|
“Interested person” as
defined in the 1940 Act, by reason of being an officer and
director of each Fund’s Adviser.
|
On July 28, 2010, Nuveen Investments, Inc. entered into an
agreement with U.S. Bancorp, as indirect parent of FAF
Advisors, Inc. (“FAF”), to purchase a portion of
FAF’s asset management business (the “Nuveen/FAF
Transaction”). In connection with the Nuveen/FAF
Transaction, the Nominating and Governance Committee has
preliminarily approved the appointment of Virginia Stringer as
Board Member, pending the closing of the Nuveen/FAF Transaction,
which is scheduled to close in December 2010, with such
appointment taking effect upon Ms. Stringer’s consent
after the closing of the Nuveen/FAF Transaction and
Ms. Stringer’s resignation as board member of various
funds affiliated with FAF. As of the date of this Proxy
Statement, Ms. Stringer has not been officially nominated
as Board Member nominee for election by shareholders.
The dollar range of equity securities beneficially owned by each
Board Member in each Fund and all Nuveen funds overseen by the
Board Member as of December 31, 2009 is set forth in
Appendix A. The number of shares of each Fund beneficially
owned by each Board Member and by the Board Members and officers
of the Funds as a group as of December 31, 2009 is set
forth in Appendix A. On December 31, 2009, Board
Members and executive officers as a group beneficially owned
approximately 800,000 shares of all funds managed by Nuveen
Asset Management (including shares held by the Board Members
through the Deferred Compensation Plan for Independent Board
Members and by executive officers in Nuveen’s 401(k)/profit
sharing plan).
[
As of September 17, 2010, each Board
Member’s individual beneficial shareholdings of each Fund
constituted less than 1% of the outstanding shares of each Fund.
As of September 17, 2010, the Board Members and executive
officers as a group beneficially owned less than 1% of the
outstanding shares of each Fund. As of September 17, 2010,
no shareholder beneficially owned more than 5% of any class of
shares of any Fund, except as provided in
Appendix B.
]
Compensation
Each Independent Board Member receives a $100,000 annual
retainer plus (a) a fee of $3,250 per day for attendance in
person or by telephone at a regularly scheduled meeting of the
Board; (b) a fee of $2,500 per meeting for attendance in
person where such in-person attendance is required and $1,500
per meeting for attendance by telephone or in person where
in-person attendance is not required at a special, non-regularly
scheduled board meeting; (c) a fee of $2,000 per meeting
for attendance in person or $1,500 per meeting for attendance by
telephone at an audit committee meeting; (d) a fee of
$2,000 per meeting for attendance at a regularly scheduled
compliance, risk management and regulatory oversight committee
meeting for regular quarterly meetings and $1,000 per meeting
for attendance of other, non-quarterly meetings; (e) a fee
of $1,000 per meeting for attendance in person or by telephone
for a meeting of the dividend committee; and (f) a fee of
$500 per meeting for attendance in person at all other committee
meetings, $1,000 for attendance at shareholder meetings on a day
on which no regularly scheduled board meeting is held in which
in-person attendance is required, $250 per meeting for
attendance by telephone at committee meetings (excluding
shareholder meetings) where in-person attendance is not required
and $100 per meeting when the executive committee acts as
pricing committee for IPOs, plus, in each case, expenses
incurred in attending such meetings. In addition to the payments
described above, the Independent
17
Chairman receives $50,000 annually and the Lead Independent
Director, if any, receives $35,000, the chairpersons of the
audit committee, the dividend committee and the compliance, risk
management and regulatory oversight committee receive $7,500 and
the chairperson of the nominating and governance committee
receives $5,000 as additional retainers to the annual retainer
paid to such individuals. Independent Board Members also receive
a fee of $2,500 per day for site visits to entities that provide
services to the Nuveen funds on days on which no regularly
scheduled board meeting is held. When ad hoc committees are
organized, the nominating and governance committee will at the
time of formation determine compensation to be paid to the
members of such committees, however, in general such fees will
be $1,000 per meeting for attendance in person at any ad hoc
committee meeting where in-person attendance is required and
$500 per meeting for attendance by telephone or in person at
such meetings where in-person attendance is not required. The
annual retainer, fees and expenses are allocated among the funds
managed by the Adviser, on the basis of relative net asset sizes
although fund management may, in its discretion, establish a
minimum amount to be allocated to each fund. The Board Member
affiliated with Nuveen and the Adviser serves without any
compensation from the Funds.
The boards of certain Nuveen funds (the “Participating
Funds”) established a Deferred Compensation Plan for
Independent Board Members (“Deferred Compensation
Plan”). Under the Deferred Compensation Plan, Independent
Board Members of the Participating Funds may defer receipt of
all, or a portion, of the compensation they earn for their
services to the Participating Funds, in lieu of receiving
current payments of such compensation. Any deferred amount is
treated as though an equivalent dollar amount had been invested
in shares of one or more eligible Nuveen funds.
18
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aggregate Compensation from the
Funds
(2)
|
|
|
|
|
|
|
|
Robert P.
|
|
|
Jack B.
|
|
|
William C.
|
|
|
David J.
|
|
|
William J.
|
|
|
Judith M.
|
|
|
Carole E.
|
|
|
Terence J.
|
|
|
Fund
|
|
Bremner
|
|
|
Evans
|
|
|
Hunter
|
|
|
Kundert
|
|
|
Schneider
|
|
|
Stockdale
|
|
|
Stone
|
|
|
Toth
|
|
|
|
|
|
|
|
Floating Rate Income
|
|
$
|
2,981
|
|
|
$
|
2,576
|
|
|
$
|
2,191
|
|
|
$
|
2,571
|
|
|
$
|
2,605
|
|
|
$
|
2,375
|
|
|
$
|
2,240
|
|
|
$
|
2,516
|
|
|
Floating Rate Income Opportunity
|
|
|
1,774
|
|
|
|
1,533
|
|
|
|
1,304
|
|
|
|
1,530
|
|
|
|
1,550
|
|
|
|
1,414
|
|
|
|
1,333
|
|
|
|
1,497
|
|
|
Senior Income
|
|
|
1,115
|
|
|
|
964
|
|
|
|
820
|
|
|
|
962
|
|
|
|
975
|
|
|
|
889
|
|
|
|
838
|
|
|
|
941
|
|
|
Tax-Advantaged Floating Rate
|
|
|
633
|
|
|
|
1,632
|
|
|
|
550
|
|
|
|
562
|
|
|
|
571
|
|
|
|
1,615
|
|
|
|
597
|
|
|
|
1,613
|
|
|
Arizona Dividend Advantage
|
|
|
124
|
|
|
|
105
|
|
|
|
89
|
|
|
|
104
|
|
|
|
107
|
|
|
|
96
|
|
|
|
91
|
|
|
|
103
|
|
|
Arizona Dividend Advantage 2
|
|
|
200
|
|
|
|
171
|
|
|
|
144
|
|
|
|
169
|
|
|
|
173
|
|
|
|
156
|
|
|
|
147
|
|
|
|
166
|
|
|
Arizona Dividend Advantage 3
|
|
|
261
|
|
|
|
212
|
|
|
|
180
|
|
|
|
224
|
|
|
|
215
|
|
|
|
189
|
|
|
|
192
|
|
|
|
221
|
|
|
Arizona Premium Income
|
|
|
348
|
|
|
|
296
|
|
|
|
249
|
|
|
|
294
|
|
|
|
301
|
|
|
|
270
|
|
|
|
255
|
|
|
|
289
|
|
|
California Dividend Advantage
|
|
|
1,933
|
|
|
|
1,702
|
|
|
|
1,390
|
|
|
|
1,779
|
|
|
|
1,847
|
|
|
|
1,588
|
|
|
|
1,390
|
|
|
|
1,661
|
|
|
California Dividend Advantage 2
|
|
|
1,340
|
|
|
|
1,181
|
|
|
|
962
|
|
|
|
1,236
|
|
|
|
1,284
|
|
|
|
1,102
|
|
|
|
962
|
|
|
|
1,153
|
|
|
California Dividend Advantage 3
|
|
|
1,979
|
|
|
|
1,743
|
|
|
|
1,423
|
|
|
|
1,822
|
|
|
|
1,890
|
|
|
|
1,724
|
|
|
|
1,423
|
|
|
|
1,700
|
|
|
California Investment Quality
|
|
|
1,211
|
|
|
|
1,067
|
|
|
|
870
|
|
|
|
1,115
|
|
|
|
1,158
|
|
|
|
995
|
|
|
|
870
|
|
|
|
1,041
|
|
|
California Market Opportunity
|
|
|
711
|
|
|
|
614
|
|
|
|
518
|
|
|
|
594
|
|
|
|
610
|
|
|
|
547
|
|
|
|
518
|
|
|
|
588
|
|
|
California Value
|
|
|
963
|
|
|
|
842
|
|
|
|
677
|
|
|
|
882
|
|
|
|
918
|
|
|
|
781
|
|
|
|
677
|
|
|
|
820
|
|
|
California Value 2
|
|
|
177
|
|
|
|
121
|
|
|
|
101
|
|
|
|
115
|
|
|
|
119
|
|
|
|
145
|
|
|
|
101
|
|
|
|
115
|
|
|
California Performance Plus
|
|
|
1,159
|
|
|
|
1,022
|
|
|
|
833
|
|
|
|
1,068
|
|
|
|
1,109
|
|
|
|
952
|
|
|
|
833
|
|
|
|
997
|
|
|
California Premium Income
|
|
|
492
|
|
|
|
424
|
|
|
|
359
|
|
|
|
411
|
|
|
|
422
|
|
|
|
378
|
|
|
|
359
|
|
|
|
406
|
|
|
California Quality Income
|
|
|
2,052
|
|
|
|
1,809
|
|
|
|
1,475
|
|
|
|
1,893
|
|
|
|
1,965
|
|
|
|
1,688
|
|
|
|
1,475
|
|
|
|
1,765
|
|
|
California Select Quality
|
|
|
2,075
|
|
|
|
1,828
|
|
|
|
1,491
|
|
|
|
1,912
|
|
|
|
1,985
|
|
|
|
1,706
|
|
|
|
1,491
|
|
|
|
1,784
|
|
|
Insured California Dividend Advantage
|
|
|
1,419
|
|
|
|
1,250
|
|
|
|
1,020
|
|
|
|
1,308
|
|
|
|
1,358
|
|
|
|
1,167
|
|
|
|
1,020
|
|
|
|
1,220
|
|
|
Insured California Premium Income
|
|
|
595
|
|
|
|
514
|
|
|
|
434
|
|
|
|
497
|
|
|
|
511
|
|
|
|
458
|
|
|
|
434
|
|
|
|
492
|
|
|
Insured California Premium Income 2
|
|
|
1,096
|
|
|
|
966
|
|
|
|
788
|
|
|
|
1,011
|
|
|
|
1,049
|
|
|
|
902
|
|
|
|
788
|
|
|
|
943
|
|
|
Insured California Tax-Free Advantage
|
|
|
471
|
|
|
|
403
|
|
|
|
338
|
|
|
|
390
|
|
|
|
402
|
|
|
|
358
|
|
|
|
338
|
|
|
|
385
|
|
|
Connecticut Dividend Advantage
|
|
|
218
|
|
|
|
189
|
|
|
|
157
|
|
|
|
183
|
|
|
|
187
|
|
|
|
171
|
|
|
|
161
|
|
|
|
181
|
|
|
Connecticut Dividend Advantage 2
|
|
|
197
|
|
|
|
171
|
|
|
|
142
|
|
|
|
165
|
|
|
|
169
|
|
|
|
155
|
|
|
|
145
|
|
|
|
163
|
|
|
Connecticut Dividend Advantage 3
|
|
|
360
|
|
|
|
311
|
|
|
|
258
|
|
|
|
301
|
|
|
|
309
|
|
|
|
332
|
|
|
|
265
|
|
|
|
298
|
|
|
Connecticut Premium Income
|
|
|
449
|
|
|
|
380
|
|
|
|
312
|
|
|
|
364
|
|
|
|
373
|
|
|
|
455
|
|
|
|
320
|
|
|
|
364
|
|
|
Georgia Dividend Advantage
|
|
|
220
|
|
|
|
147
|
|
|
|
122
|
|
|
|
142
|
|
|
|
146
|
|
|
|
184
|
|
|
|
125
|
|
|
|
141
|
|
|
Georgia Dividend Advantage 2
|
|
|
386
|
|
|
|
321
|
|
|
|
267
|
|
|
|
311
|
|
|
|
319
|
|
|
|
306
|
|
|
|
273
|
|
|
|
308
|
|
|
Georgia Premium Income
|
|
|
370
|
|
|
|
277
|
|
|
|
230
|
|
|
|
268
|
|
|
|
275
|
|
|
|
301
|
|
|
|
235
|
|
|
|
265
|
|
|
Maryland Dividend Advantage
|
|
|
334
|
|
|
|
288
|
|
|
|
240
|
|
|
|
279
|
|
|
|
286
|
|
|
|
262
|
|
|
|
245
|
|
|
|
276
|
|
|
Maryland Dividend Advantage 2
|
|
|
339
|
|
|
|
293
|
|
|
|
243
|
|
|
|
284
|
|
|
|
291
|
|
|
|
266
|
|
|
|
249
|
|
|
|
281
|
|
|
Maryland Dividend Advantage 3
|
|
|
540
|
|
|
|
380
|
|
|
|
316
|
|
|
|
368
|
|
|
|
377
|
|
|
|
445
|
|
|
|
324
|
|
|
|
364
|
|
|
Maryland Premium Income
|
|
|
950
|
|
|
|
765
|
|
|
|
636
|
|
|
|
741
|
|
|
|
759
|
|
|
|
759
|
|
|
|
651
|
|
|
|
733
|
|
|
|
|
|
19
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aggregate Compensation from the
Funds
(2)
|
|
|
|
|
|
|
|
Robert P.
|
|
|
Jack B.
|
|
|
William C.
|
|
|
David J.
|
|
|
William J.
|
|
|
Judith M.
|
|
|
Carole E.
|
|
|
Terence J.
|
|
|
Fund
|
|
Bremner
|
|
|
Evans
|
|
|
Hunter
|
|
|
Kundert
|
|
|
Schneider
|
|
|
Stockdale
|
|
|
Stone
|
|
|
Toth
|
|
|
|
|
|
|
|
Massachusetts Dividend Advantage
|
|
$
|
267
|
|
|
$
|
146
|
|
|
$
|
120
|
|
|
$
|
140
|
|
|
$
|
143
|
|
|
$
|
231
|
|
|
$
|
123
|
|
|
$
|
140
|
|
|
Massachusetts Premium Income
|
|
|
465
|
|
|
|
346
|
|
|
|
287
|
|
|
|
335
|
|
|
|
343
|
|
|
|
328
|
|
|
|
294
|
|
|
|
331
|
|
|
Insured Massachusetts Tax-Free Advantage
|
|
|
238
|
|
|
|
206
|
|
|
|
171
|
|
|
|
199
|
|
|
|
204
|
|
|
|
237
|
|
|
|
175
|
|
|
|
197
|
|
|
Michigan Dividend Advantage
|
|
|
183
|
|
|
|
158
|
|
|
|
134
|
|
|
|
153
|
|
|
|
157
|
|
|
|
141
|
|
|
|
134
|
|
|
|
151
|
|
|
Michigan Premium Income
|
|
|
694
|
|
|
|
599
|
|
|
|
506
|
|
|
|
580
|
|
|
|
596
|
|
|
|
534
|
|
|
|
506
|
|
|
|
574
|
|
|
Michigan Quality Income
|
|
|
1,113
|
|
|
|
981
|
|
|
|
799
|
|
|
|
1,027
|
|
|
|
1,066
|
|
|
|
915
|
|
|
|
799
|
|
|
|
957
|
|
|
Missouri Premium Income
|
|
|
184
|
|
|
|
159
|
|
|
|
132
|
|
|
|
154
|
|
|
|
157
|
|
|
|
144
|
|
|
|
135
|
|
|
|
152
|
|
|
New Jersey Dividend Advantage
|
|
|
543
|
|
|
|
475
|
|
|
|
390
|
|
|
|
454
|
|
|
|
465
|
|
|
|
426
|
|
|
|
399
|
|
|
|
455
|
|
|
New Jersey Dividend Advantage 2
|
|
|
377
|
|
|
|
330
|
|
|
|
271
|
|
|
|
315
|
|
|
|
323
|
|
|
|
296
|
|
|
|
277
|
|
|
|
316
|
|
|
New Jersey Investment Quality
|
|
|
1,732
|
|
|
|
1,523
|
|
|
|
1,235
|
|
|
|
1,558
|
|
|
|
1,632
|
|
|
|
1,436
|
|
|
|
1,261
|
|
|
|
1,475
|
|
|
New Jersey Value
|
|
|
105
|
|
|
|
73
|
|
|
|
61
|
|
|
|
70
|
|
|
|
72
|
|
|
|
84
|
|
|
|
61
|
|
|
|
69
|
|
|
New Jersey Premium Income
|
|
|
1,062
|
|
|
|
946
|
|
|
|
758
|
|
|
|
955
|
|
|
|
1,001
|
|
|
|
881
|
|
|
|
773
|
|
|
|
916
|
|
|
North Carolina Dividend Advantage
|
|
|
200
|
|
|
|
173
|
|
|
|
144
|
|
|
|
167
|
|
|
|
171
|
|
|
|
157
|
|
|
|
147
|
|
|
|
165
|
|
|
North Carolina Dividend Advantage 2
|
|
|
332
|
|
|
|
291
|
|
|
|
238
|
|
|
|
278
|
|
|
|
285
|
|
|
|
261
|
|
|
|
244
|
|
|
|
278
|
|
|
North Carolina Dividend Advantage 3
|
|
|
388
|
|
|
|
292
|
|
|
|
243
|
|
|
|
283
|
|
|
|
290
|
|
|
|
315
|
|
|
|
249
|
|
|
|
280
|
|
|
North Carolina Premium Income
|
|
|
607
|
|
|
|
469
|
|
|
|
389
|
|
|
|
454
|
|
|
|
465
|
|
|
|
440
|
|
|
|
399
|
|
|
|
449
|
|
|
Ohio Dividend Advantage
|
|
|
399
|
|
|
|
348
|
|
|
|
291
|
|
|
|
333
|
|
|
|
343
|
|
|
|
307
|
|
|
|
291
|
|
|
|
334
|
|
|
Ohio Dividend Advantage 2
|
|
|
287
|
|
|
|
248
|
|
|
|
209
|
|
|
|
240
|
|
|
|
247
|
|
|
|
221
|
|
|
|
209
|
|
|
|
237
|
|
|
Ohio Dividend Advantage 3
|
|
|
208
|
|
|
|
179
|
|
|
|
152
|
|
|
|
174
|
|
|
|
178
|
|
|
|
160
|
|
|
|
152
|
|
|
|
172
|
|
|
Ohio Quality Income
|
|
|
974
|
|
|
|
841
|
|
|
|
711
|
|
|
|
814
|
|
|
|
837
|
|
|
|
750
|
|
|
|
711
|
|
|
|
805
|
|
|
Pennsylvania Value
|
|
|
80
|
|
|
|
56
|
|
|
|
47
|
|
|
|
54
|
|
|
|
55
|
|
|
|
64
|
|
|
|
47
|
|
|
|
53
|
|
|
Pennsylvania Dividend Advantage
|
|
|
277
|
|
|
|
242
|
|
|
|
199
|
|
|
|
232
|
|
|
|
237
|
|
|
|
217
|
|
|
|
204
|
|
|
|
232
|
|
|
Pennsylvania Dividend Advantage 2
|
|
|
304
|
|
|
|
266
|
|
|
|
218
|
|
|
|
254
|
|
|
|
260
|
|
|
|
238
|
|
|
|
223
|
|
|
|
254
|
|
|
Pennsylvania Investment Quality
|
|
|
1,381
|
|
|
|
1,214
|
|
|
|
985
|
|
|
|
1,242
|
|
|
|
1,301
|
|
|
|
1,145
|
|
|
|
1,005
|
|
|
|
1,176
|
|
|
Pennsylvania Premium Income 2
|
|
|
1,255
|
|
|
|
1,116
|
|
|
|
895
|
|
|
|
1,128
|
|
|
|
1,181
|
|
|
|
1,040
|
|
|
|
913
|
|
|
|
1,081
|
|
|
Texas Quality Income
|
|
|
795
|
|
|
|
686
|
|
|
|
569
|
|
|
|
672
|
|
|
|
688
|
|
|
|
617
|
|
|
|
583
|
|
|
|
669
|
|
|
Virginia Dividend Advantage
|
|
|
248
|
|
|
|
214
|
|
|
|
176
|
|
|
|
207
|
|
|
|
212
|
|
|
|
293
|
|
|
|
181
|
|
|
|
204
|
|
|
Virginia Dividend Advantage 2
|
|
|
571
|
|
|
|
410
|
|
|
|
333
|
|
|
|
391
|
|
|
|
401
|
|
|
|
466
|
|
|
|
342
|
|
|
|
392
|
|
|
Virginia Premium Income
|
|
|
859
|
|
|
|
651
|
|
|
|
534
|
|
|
|
623
|
|
|
|
638
|
|
|
|
698
|
|
|
|
547
|
|
|
|
624
|
|
|
Total Compensation from Nuveen Funds Paid to Board Members/
Nominees
(1)
|
|
$
|
265,996
|
|
|
$
|
239,830
|
|
|
$
|
194,333
|
|
|
$
|
252,913
|
|
|
$
|
258,133
|
|
|
$
|
219,480
|
|
|
$
|
186,750
|
|
|
$
|
247,289
|
|
|
|
|
|
|
|
|
|
(1)
|
Based on the total compensation paid, including deferred fees
(including the return from the assumed investment in the
eligible Nuveen funds), to the Board Members for the calendar
year ended December 31, 2009 for services to the Nuveen
open-end and closed-end funds advised by Nuveen Asset Management.
|
|
|
|
|
(2)
|
Includes deferred fees. Pursuant to a deferred compensation
agreement with certain of the Funds, deferred amounts are
treated as though an equivalent dollar amount has been invested
in shares of one or more Participating Funds. Total deferred
fees for the Funds (including the return from the assumed
investment in the Participating Funds) payable are:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Robert P.
|
|
|
Jack B.
|
|
|
William C.
|
|
|
David J.
|
|
|
William J.
|
|
|
Judith M.
|
|
|
Carole E.
|
|
|
Terence J.
|
|
|
Fund
|
|
Bremner
|
|
|
Evans
|
|
|
Hunter
|
|
|
Kundert
|
|
|
Schneider
|
|
|
Stockdale
|
|
|
Stone
|
|
|
Toth
|
|
|
|
|
|
|
|
Floating Rate Income
|
|
$
|
451
|
|
|
$
|
650
|
|
|
$
|
1,302
|
|
|
$
|
2,571
|
|
|
$
|
2,605
|
|
|
$
|
1,290
|
|
|
$
|
—
|
|
|
$
|
807
|
|
|
Floating Rate Income Opportunity
|
|
|
268
|
|
|
|
387
|
|
|
|
775
|
|
|
|
1,530
|
|
|
|
1,550
|
|
|
|
768
|
|
|
|
—
|
|
|
|
480
|
|
|
Senior Income
|
|
|
169
|
|
|
|
243
|
|
|
|
490
|
|
|
|
962
|
|
|
|
975
|
|
|
|
483
|
|
|
|
—
|
|
|
|
301
|
|
|
Tax-Advantaged Floating Rate
|
|
|
91
|
|
|
|
402
|
|
|
|
469
|
|
|
|
562
|
|
|
|
571
|
|
|
|
912
|
|
|
|
—
|
|
|
|
640
|
|
|
California Dividend Advantage
|
|
|
314
|
|
|
|
471
|
|
|
|
—
|
|
|
|
1,779
|
|
|
|
1,847
|
|
|
|
1,002
|
|
|
|
—
|
|
|
|
874
|
|
|
California Dividend Advantage 2
|
|
|
219
|
|
|
|
327
|
|
|
|
—
|
|
|
|
1,236
|
|
|
|
1,284
|
|
|
|
696
|
|
|
|
—
|
|
|
|
607
|
|
|
California Dividend Advantage 3
|
|
|
322
|
|
|
|
482
|
|
|
|
—
|
|
|
|
1,822
|
|
|
|
1,890
|
|
|
|
1,084
|
|
|
|
—
|
|
|
|
895
|
|
|
California Investment Quality
|
|
|
197
|
|
|
|
295
|
|
|
|
—
|
|
|
|
1,115
|
|
|
|
1,158
|
|
|
|
628
|
|
|
|
—
|
|
|
|
548
|
|
|
California Value
|
|
|
157
|
|
|
|
234
|
|
|
|
—
|
|
|
|
882
|
|
|
|
918
|
|
|
|
494
|
|
|
|
—
|
|
|
|
433
|
|
|
California Performance Plus
|
|
|
189
|
|
|
|
283
|
|
|
|
—
|
|
|
|
1,068
|
|
|
|
1,109
|
|
|
|
601
|
|
|
|
—
|
|
|
|
525
|
|
|
California Quality Income
|
|
|
334
|
|
|
|
501
|
|
|
|
—
|
|
|
|
1,893
|
|
|
|
1,965
|
|
|
|
1,066
|
|
|
|
—
|
|
|
|
930
|
|
|
California Select Quality
|
|
|
338
|
|
|
|
506
|
|
|
|
—
|
|
|
|
1,912
|
|
|
|
1,985
|
|
|
|
1,077
|
|
|
|
—
|
|
|
|
939
|
|
|
Insured California Dividend Advantage
|
|
|
231
|
|
|
|
346
|
|
|
|
—
|
|
|
|
1,308
|
|
|
|
1,358
|
|
|
|
736
|
|
|
|
—
|
|
|
|
643
|
|
|
Insured California Premium Income 2
|
|
|
179
|
|
|
|
267
|
|
|
|
—
|
|
|
|
1,011
|
|
|
|
1,049
|
|
|
|
569
|
|
|
|
—
|
|
|
|
496
|
|
|
Michigan Quality Income
|
|
|
181
|
|
|
|
272
|
|
|
|
—
|
|
|
|
1,027
|
|
|
|
1,066
|
|
|
|
578
|
|
|
|
—
|
|
|
|
504
|
|
|
New Jersey Investment Quality
|
|
|
275
|
|
|
|
412
|
|
|
|
265
|
|
|
|
1,558
|
|
|
|
1,632
|
|
|
|
867
|
|
|
|
—
|
|
|
|
663
|
|
|
New Jersey Premium Income
|
|
|
168
|
|
|
|
256
|
|
|
|
162
|
|
|
|
955
|
|
|
|
1,001
|
|
|
|
532
|
|
|
|
—
|
|
|
|
412
|
|
|
Pennsylvania Investment Quality
|
|
|
219
|
|
|
|
328
|
|
|
|
211
|
|
|
|
1,242
|
|
|
|
1,301
|
|
|
|
691
|
|
|
|
—
|
|
|
|
528
|
|
|
Pennsylvania Premium Income 2
|
|
|
199
|
|
|
|
302
|
|
|
|
192
|
|
|
|
1,128
|
|
|
|
1,181
|
|
|
|
628
|
|
|
|
—
|
|
|
|
486
|
|
|
|
|
|
21
Board
Leadership Structure and Risk Oversight
The Board of each Fund (collectively, the “Board”)
oversees the operations and management of the Fund, including
the duties performed for the Funds by the Adviser. The Board has
adopted a unitary board structure. A unitary board consists of
one group of directors who serve on the board of every fund in
the complex. In adopting a unitary board structure, the Board
Members seek to provide effective governance through
establishing a board, the overall composition of which, will, as
a body, possess the appropriate skills, independence and
experience to oversee the Funds’ business. With this
overall framework in mind, when the Board, through its
Nominating and Governance Committee discussed below, seeks
nominees for the Board, the Board Members consider, not only the
candidate’s particular background, skills and experience,
among other things, but also whether such background, skills and
experience enhance the Board’s diversity and at the same
time complement the Board given its current composition and the
mix of skills and experiences of the incumbent Board Members.
The Nominating and Governance Committee believes that the Board
generally benefits from diversity of background, experience and
views among its members, and considers this a factor in
evaluating the composition of the Board, but has not adopted any
specific policy on diversity or any particular definition of
diversity.
The Board believes the unitary board structure enhances good and
effective governance, particularly given the nature of the
structure of the investment company complex. Funds in the same
complex generally are served by the same service providers and
personnel and are governed by the same regulatory scheme which
raises common issues that must be addressed by the directors
across the fund complex (such as compliance, valuation,
liquidity, brokerage, trade allocation or risk management). The
Board believes it is more efficient to have a single board
review and oversee common policies and procedures which
increases the Board’s knowledge and expertise with respect
to the many aspects of fund operations that are complex-wide in
nature. The unitary structure also enhances the Board’s
influence and oversight over the Adviser and other service
providers.
In an effort to enhance the independence of the Board, the Board
also has a Chairman that is an independent Board Member. The
Board recognizes that a chairman can perform an important role
in setting the agenda for the Board, establishing the boardroom
culture, establishing a point person on behalf of the Board for
fund management, and reinforcing the Board’s focus on the
long-term interests of shareholders. The Board recognizes that a
chairman may be able to better perform these functions without
any conflicts of interests arising from a position with fund
management. Accordingly, the Board Members have elected Robert
P. Bremner as the independent Chairman of the Board. Specific
responsibilities of the Chairman include: (i) presiding at
all meetings of the Board and of the shareholders;
(ii) seeing that all orders and resolutions of the Board
Members are carried into effect; and (iii) maintaining
records of and, whenever necessary, certifying all proceedings
of the Board Members and the shareholders.
Although the Board has direct responsibility over various
matters (such as advisory contracts, underwriting contracts and
Fund performance), the Board also exercises certain of its
oversight responsibilities through several committees that it
has established and which report back to the full Board. The
Board believes that a committee structure is an effective means
to permit Board Members to focus on particular operations or
issues affecting the Funds, including risk oversight. More
specifically, with respect to risk oversight, the Board has
delegated matters relating to valuation and compliance to
certain committees (as summarized below) as well as
22
certain aspects of investment risk. In addition, the Board
believes that the periodic rotation of Board Members among the
different committees allows the Board Members to gain additional
and different perspectives of a Fund’s operations. The
Board has established five standing committees: the Executive
Committee, the Dividend Committee, the Audit Committee, the
Compliance, Risk Management and Regulatory Oversight Committee
and the Nominating and Governance Committee. The Board may also
from time to time create ad hoc committees to focus on
particular issues as the need arises. The membership and
functions of the standing committees are summarized below.
The Executive Committee, which meets between regular meetings of
the Board, is authorized to exercise all of the powers of the
Board. Robert P. Bremner, Chair, Judith M. Stockdale and John P.
Amboian serve as the current members of the Executive Committee
of the Board. The number of Executive Committee meetings of each
Fund held during its last fiscal year is shown in
Appendix C.
The Dividend Committee is authorized to declare distributions on
each Fund’s shares including, but not limited to, regular
and special dividends, capital gains and ordinary income
distributions. The members of the Dividend Committee are Jack B.
Evans, Chair, Judith M. Stockdale and Terence J. Toth. The
number of Dividend Committee meetings of each Fund held during
its last fiscal year is shown in Appendix C.
The Board has an Audit Committee, in accordance with
Section 3(a)(58)(A) of the Securities Exchange Act of 1934,
as amended (the “1934 Act”), that is composed of
Independent Board Members who are also “independent”
as that term is defined in the listing standards pertaining to
closed-end funds of the New York Stock Exchange or the NYSE
Amex, as applicable. The Audit Committee assists the Board in
the oversight and monitoring of the accounting and reporting
policies, processes and practices of the Funds, and the audits
of the financial statements of the Funds; the quality and
integrity of the financial statements of the Funds; the
Funds’ compliance with legal and regulatory requirements
relating to the Funds’ financial statements; the
independent auditors’ qualifications, performance and
independence; and the pricing procedures of the Funds and the
internal valuation group of Nuveen. It is the responsibility of
the Audit Committee to select, evaluate and replace any
independent auditors (subject only to Board and, if applicable,
shareholder ratification) and to determine their compensation.
The Audit Committee is also responsible for, among other things,
overseeing the valuation of securities comprising the
Funds’ portfolios. Subject to the Board’s general
supervision of such actions, the Audit Committee addresses any
valuation issues, oversees the Funds’ pricing procedures
and actions taken by Nuveen’s internal valuation group
which provides regular reports to the committee, reviews any
issues relating to the valuation of the Funds’ securities
brought to its attention and considers the risks to the Funds in
assessing the possible resolutions to these matters. The Audit
Committee may also consider any financial risk exposures for the
Funds in conjunction with performing its functions.
To fulfill its oversight duties, the Audit Committee receives
annual and semi-annual reports and has regular meetings with the
external auditors for the Funds and the internal audit group at
Nuveen. The Audit Committee also may review in a general manner
the processes the Board or other Board committees have in place
with respect to risk assessment and risk management as well as
compliance with legal and regulatory matters relating to the
Funds’ financial statements. The Audit Committee operates
under a written Audit Committee Charter adopted and approved by
the Board, which Charter conforms to the listing standards of
the New York Stock Exchange or the NYSE Amex, as applicable.
Members of the Audit Committee shall be
23
independent (as set forth in the Charter) and free of any
relationship that, in the opinion of the Board Members, would
interfere with their exercise of independent judgment as an
Audit Committee member. The members of the Audit Committee are
Robert P. Bremner, Jack B. Evans, David J. Kundert,
Chair, William J. Schneider and Terence J. Toth, each of whom is
an independent Board Member of the Funds. A copy of the Audit
Committee Charter is attached as Appendix D. The number of
Audit Committee Meetings of each Fund held during its last
fiscal year is shown in Appendix C.
The Compliance, Risk Management and Regulatory Oversight
Committee (the “Compliance Committee”) is responsible
for the oversight of compliance issues, risk management and
other regulatory matters affecting the Funds that are not
otherwise the jurisdiction of the other committees. The Board
has adopted and periodically reviews policies and procedures
designed to address the Funds’ compliance and risk matters.
As part of its duties, the Compliance Committee reviews the
policies and procedures relating to compliance matters and
recommends modifications thereto as necessary or appropriate to
the full Board; develops new policies and procedures as new
regulatory matters affecting the Funds arise from time to time;
evaluates or considers any comments or reports from examinations
from regulatory authorities and responses thereto; and performs
any special reviews, investigations or other oversight
responsibilities relating to risk management, compliance
and/or
regulatory matters as requested by the Board.
In addition, the Compliance Committee is responsible for risk
oversight, including, but not limited to, the oversight of risks
related to investments and operations. Such risks include, among
other things, exposures to particular issuers, market sectors,
or types of securities; risks related to product structure
elements, such as leverage; and techniques that may be used to
address those risks, such as hedging and swaps. In assessing
issues brought to the Compliance Committee’s attention or
in reviewing a particular policy, procedure, investment
technique or strategy, the Compliance Committee evaluates the
risks to the Funds in adopting a particular approach or
resolution compared to the anticipated benefits to the Funds and
their shareholders. In fulfilling its obligations, the
Compliance Committee meets on a quarterly basis, and at least
once a year in person. The Compliance Committee receives written
and oral reports from the Funds’ Chief Compliance Officer
(“CCO”) and meets privately with the CCO at each of
its quarterly meetings. The CCO also provides an annual report
to the full Board regarding the operations of the Funds’
and other service providers’ compliance programs as well as
any recommendations for modifications thereto. The Compliance
Committee also receives reports from the investment services
group of Nuveen regarding various investment risks.
Notwithstanding the foregoing, the full Board also participates
in discussions with management regarding certain matters
relating to investment risk, such as the use of leverage and
hedging. The investment services group therefore also reports to
the full Board at its quarterly meetings regarding, among other
things, Fund performance and the various drivers of such
performance. Accordingly, the Board directly
and/or
in
conjunction with the Compliance Committee oversees matters
relating to investment risks. Matters not addressed at the
committee level are addressed directly by the full Board. The
Compliance Committee operates under a written charter adopted
and approved by the Board. The members of the Compliance
Committee are William C. Hunter, William J. Schneider, Chair,
Judith M. Stockdale and Carole E. Stone. The number of
Compliance Committee meetings of each Fund held during its last
fiscal year is shown in Appendix C.
24
The Nominating and Governance Committee is responsible for
seeking, identifying and recommending to the Board qualified
candidates for election or appointment to the Board. In
addition, the Nominating and Governance Committee oversees
matters of corporate governance, including the evaluation of
Board performance and processes, the assignment and rotation of
committee members, and the establishment of corporate governance
guidelines and procedures, to the extent necessary or desirable,
and matters related thereto. Although the unitary and committee
structure has been developed over the years and the Nominating
and Governance Committee believes the structure has provided
efficient and effective governance, the committee recognizes
that as demands on the Board evolve over time (such as through
an increase in the number of funds overseen or an increase in
the complexity of the issues raised), the committee must
continue to evaluate the Board and committee structures and
their processes and modify the foregoing as may be necessary or
appropriate to continue to provide effective governance.
Accordingly, the Nominating and Governance Committee has a
separate meeting each year to, among other things, review the
Board and committee structures, their performance and functions,
and recommend any modifications thereto or alternative
structures or processes that would enhance the Board’s
governance over the Funds’ business.
In addition, the Nominating and Governance Committee, among
other things, makes recommendations concerning the continuing
education of Board Members; monitors performance of legal
counsel and other service providers; establishes and monitors a
process by which security holders are able to communicate in
writing with Board Members; and periodically reviews and makes
recommendations about any appropriate changes to Board Member
compensation. In the event of a vacancy on the Board, the
Nominating and Governance Committee receives suggestions from
various sources as to suitable candidates. Suggestions should be
sent in writing to Lorna Ferguson, Manager of Fund Board
Relations, Nuveen Investments, 333 West Wacker Drive,
Chicago, IL 60606. The Nominating and Governance Committee sets
appropriate standards and requirements for nominations for new
Board Members and reserves the right to interview any and all
candidates and to make the final selection of any new Board
Members. In considering a candidate’s qualifications, each
candidate must meet certain basic requirements, including
relevant skills and experience, time availability (including the
time requirements for due diligence site visits to internal and
external
sub-advisers
and service providers) and, if qualifying as an Independent
Board Member candidate, independence from the Adviser,
sub-advisers,
underwriters or other service providers, including any
affiliates of these entities. These skill and experience
requirements may vary depending on the current composition of
the Board, since the goal is to ensure an appropriate range of
skills, diversity and experience, in the aggregate. Accordingly,
the particular factors considered and weight given to these
factors will depend on the composition of the Board and the
skills and backgrounds of the incumbent Board Member at the time
of consideration of the nominees. All candidates, however, must
meet high expectations of personal integrity, independence,
governance experience and professional competence. All
candidates must be willing to be critical within the Board and
with management and yet maintain a collegial and collaborative
manner toward other Board Members. The Nominating and Governance
Committee operates under a written charter adopted and approved
by the Board, a copy of which is available on the Funds’
website at www.nuveen.com/CEF/Info/Shareholder/, and is composed
entirely of Independent Board Members who are also
“independent” as defined by New York Stock Exchange or
NYSE Amex listing standards, as applicable. Accordingly, the
members of the Nominating and Governance Committee are Robert P.
Bremner, Chair, Jack B. Evans, William C. Hunter, David J.
Kundert, William J. Schneider, Judith M. Stockdale, Carole E.
Stone and
25
Terence J. Toth. The number of Nominating and Governance
Committee meetings of each Fund held during its last fiscal year
is shown in Appendix C.
The number of regular quarterly meetings and special meetings
held by the Board of each Fund during the Fund’s last
fiscal year is shown in Appendix C. During the last fiscal
year, each Board Member attended 75% or more of each Fund’s
Board meetings and the committee meetings (if a member thereof)
held during the period for which such Board Member was a Board
Member. The policy of the Board relating to attendance by Board
Members at annual meetings of the Funds and the number of Board
Members who attended the last annual meeting of shareholders of
each Fund is posted on the Funds’ website at
www.nuveen.com/CEF/Info/Shareholder/.
Board Diversification and Board Member
Qualifications.
In determining that a particular
Board Member was qualified to serve as a Board Member, the Board
has considered each Board Member’s background, skills,
experience and other attributes in light of the composition of
the Board with no particular factor controlling. The Board
believes that Board Members need to have the ability to
critically review, evaluate, question and discuss information
provided to them, and to interact effectively with Fund
management, service providers and counsel, in order to exercise
effective business judgment in the performance of their duties
and the Board believes each Board Member satisfies this
standard. An effective Board Member may achieve this ability
through his or her educational background; business,
professional training or practice; public service or academic
positions; experience from service as a board member (including
the Boards of the Funds), or as an executive of investment
funds, public companies or significant private or
not-for-profit
entities or other organizations; and or/other life experiences.
Accordingly, set forth below is a summary of the experiences,
qualifications, attributes, and skills that led to the
conclusion, as of the date of this document, that each Board
Member should continue to serve in that capacity. References to
the experiences, qualifications, attributes and skills of Board
Members are pursuant to requirements of the Securities and
Exchange Commission, do not constitute holding out of the Board
or any Board Member as having any special expertise or
experience and shall not impose any greater responsibility or
liability on any such person or on the Board by reason thereof.
John P.
Amboian
Mr. Amboian, an interested Board Member of the Funds,
joined Nuveen Investments, Inc. in June 1995 and became Chief
Executive Officer in July 2007 and Chairman in November 2007.
Prior to this, since 1999, he served as President with
responsibility for the firm’s product, marketing, sales,
operations and administrative activities. Mr. Amboian
initially served Nuveen as Executive Vice President and Chief
Financial Officer. Prior to joining Nuveen, Mr. Amboian
held key management positions with two consumer product firms
affiliated with the Phillip Morris Companies. He served as
Senior Vice President of Finance, Strategy and Systems at Miller
Brewing Company. Mr. Amboian began his career in corporate
and international finance at Kraft Foods, Inc., where he
eventually served as Treasurer. He received a Bachelor’s
degree in economics and a Masters of Business Administration
(“MBA”) from the University of Chicago.
Mr. Amboian serves on the Board of Directors of Nuveen and
is a Board Member of the Investment Company Institute Board of
Governors, Boys and Girls Clubs of Chicago, Children’s
Memorial Hospital and Foundation, the Council on the Graduate
School of Business (University of Chicago), and the North Shore
Country Day School Foundation. He is also a member of the Civic
Committee of the Commercial Club of Chicago and the Economic
Club of Chicago.
26
Robert P.
Bremner
Mr. Bremner, the Board’s Independent Chairman, is a
private investor and management consultant in
Washington, D.C. His biography of William McChesney
Martin, Jr., a former chairman of the Federal Reserve
Board, was published by Yale University Press in
November 2004. From 1994 to 1997, he was a Senior Vice
President at Samuels International Associates, an international
consulting firm specializing in governmental policies, where he
served in a part-time capacity. Previously, Mr. Bremner was
a partner in the LBK Investors Partnership and was chairman and
majority stockholder with ITC Investors Inc., both private
investment firms. He currently serves on the Board and as
Treasurer of the Humanities Council of Washington D.C. From 1984
to 1996, Mr. Bremner was an independent Trustee of the
Flagship Funds, a group of municipal open-end funds. He began
his career at the World Bank in Washington D.C. He graduated
with a Bachelor of Science degree from Yale University and
received his MBA from Harvard University.
Jack B.
Evans
President of the Hall-Perrine Foundation, a private
philanthropic corporation, since 1996, Mr. Evans was
formerly President and Chief Operating Officer of the SCI
Financial Group, Inc., a regional financial services firm
headquartered in Cedar Rapids, Iowa. Formerly, he was a member
of the Board of the Federal Reserve Bank of Chicago as well as a
Director of Alliant Energy. Mr. Evans is Chairman of the
Board of United Fire Group, sits on the Board of the Gazette
Companies, is President Pro Tem of the Board of Regents for the
State of Iowa University System, is a Life Trustee of Coe
College and is a member of the Advisory Council of the
Department of Finance in the Tippie College of Business,
University of Iowa. He has a Bachelor of Arts degree from Coe
College and an MBA from the University of Iowa.
William
C. Hunter
Mr. Hunter was appointed Dean of the Henry B. Tippie
College of Business at the University of Iowa effective
July 1, 2006. He had been Dean and Distinguished Professor
of Finance at the University of Connecticut School of Business
since June 2003. From 1995 to 2003, he was the Senior Vice
President and Director of Research at the Federal Reserve Bank
of Chicago. While there he served as the Bank’s Chief
Economist and was an Associate Economist on the Federal Reserve
System’s Federal Open Market Committee (FOMC). In addition
to serving as a Vice President in charge of financial markets
and basic research at the Federal Reserve Bank in Atlanta, he
held faculty positions at Emory University, Atlanta University,
the University of Georgia and Northwestern University. A past
Director of the Credit Research Center at Georgetown University
and past President of the Financial Management Association
International, he has consulted with numerous foreign central
banks and official agencies in Western Europe, Central and
Eastern Europe, Asia, Central America and South America. From
1990 to 1995, he was a U.S. Treasury Advisor to Central and
Eastern Europe. He has been a Director of the Xerox Corporation
since 2004. He is President-Elect of Beta Gamma Sigma, Inc., the
International Business Honor Society.
David J.
Kundert
Mr. Kundert retired in 2004 as Chairman of JPMorgan Fleming
Asset Management, and as President and CEO of Banc One
Investment Advisors Corporation, and as President of One
27
Group Mutual Funds. Prior to the merger between Banc One
Corporation and JPMorgan Chase and Co., he was Executive Vice
President, Banc One Corporation and, since 1995, the Chairman
and CEO, Banc One Investment Management Group. From 1988 to
1992, he was President and CEO of Bank One Wisconsin
Trust Company. Currently, Mr. Kundert is a Director of
the Northwestern Mutual Wealth Management Company. He started
his career as an attorney for Northwestern Mutual Life Insurance
Company. Mr. Kundert has served on the Board of Governors
of the Investment Company Institute and he is currently a member
of the Wisconsin Bar Association. He is on the Board of the
Greater Milwaukee Foundation and chairs its Investment
Committee. He received his Bachelor of Arts degree from Luther
College, and his Juris Doctor from Valparaiso University.
William
J. Schneider
Mr. Schneider is currently Chairman, formerly Senior
Partner and Chief Operating Officer (retired, December
2004) of Miller-Valentine Partners Ltd., a real estate
investment company. He is a Director and Past Chair of the
Dayton Development Coalition. He was formerly a member of the
Community Advisory Board of the National City Bank in Dayton as
well as a former member of the Business Advisory Council of the
Cleveland Federal Reserve Bank. Mr. Schneider is a member
of the Business Advisory Council for the University of Dayton
College of Business. Mr. Schneider was an independent
Trustee of the Flagship Funds, a group of municipal open-end
funds. He also served as Chair of the Miami Valley Hospital and
as Chair of the Finance Committee of its parent holding company.
Mr. Schneider has a Bachelor of Science in Community
Planning from the University of Cincinnati and a Masters of
Public Administration from the University of Dayton.
Judith M.
Stockdale
Ms. Stockdale is currently Executive Director of the
Gaylord and Dorothy Donnelley Foundation, a private foundation
working in land conservation and artistic vitality in the
Chicago region and the Lowcountry of South Carolina. Her
previous positions include Executive Director of the Great Lakes
Protection Fund, Executive Director of Openlands, and Senior
Staff Associate at the Chicago Community Trust. She has served
on the Boards of the Land Trust Alliance, the National
Zoological Park, the Governor’s Science Advisory Council
(Illinois), the Nancy Ryerson Ranney Leadership Grants Program,
Friends of Ryerson Woods and the Donors Forum.
Ms. Stockdale, a native of the United Kingdom, has a
Bachelor of Science degree in geography from the University of
Durham (UK) and a Master of Forest Science degree from Yale
University.
Carole E.
Stone
Ms. Stone retired from the New York State Division of the
Budget in 2004, having served as its Director for nearly five
years and as Deputy Director from 1995 through 1999.
Ms. Stone is currently on the Board of Directors of the
Chicago Board Options Exchange, CBOE Holdings, Inc. and C2
Options Exchange, Incorporated and is a Commissioner on the New
York State Commission on Public Authority Reform. She has also
served as the Chair of the New York Racing Association Oversight
Board, as Chair of the Public Authorities Control Board and as a
member of the Boards of Directors of several New York State
public authorities. Ms. Stone has a Bachelor of Arts from
Skidmore College in Business Administration.
28
Terence
J. Toth
Mr. Toth is a Director, Legal & General
Investment Management America, Inc. (since 2008) and a
Managing Partner, Promus Capital (since 2008). From 2004 to
2007, he was Chief Executive Officer and President of Northern
Trust Global Investments, and Executive Vice President of
Quantitative Management & Securities Lending from 2000
to 2004. He also formerly served on the Board of the Northern
Trust Mutual Funds. He joined Northern Trust in 1994 after
serving as Managing Director and Head of Global Securities
Lending at Bankers Trust (1986 to 1994) and Head of
Government Trading and Cash Collateral Investment at Northern
Trust from 1982 to 1986. He currently serves on the Boards of
the Goodman Theatre, Chicago Fellowship, and University of
Illinois Leadership Council, and is Chairman of the Board of
Catalyst Schools of Chicago. Mr. Toth graduated with a
Bachelor of Science degree from the University of Illinois, and
received his MBA from New York University. In 2005, he graduated
from the CEO Perspectives Program at Northwestern University.
Independent
Chairman
The Board Members have elected Robert P. Bremner as the
independent Chairman of the Board. Specific responsibilities of
the Chairman include (a) presiding over all meetings of the
Board and of the shareholders; (b) seeing that all orders
and resolutions of the Board Members are carried into effect;
and (c) maintaining records of and, whenever necessary,
certifying all proceedings of the Board Members and the
shareholders. For each Minnesota Fund except California Value,
all Board Members are elected annually. For each Massachusetts
Fund, and California Value, shareholders will be asked to elect
Board Members as each Board Member’s term expires, and with
respect to Board Members elected by holders of Common Shares
such Board Member shall be elected for a term expiring at the
time of the third succeeding annual meeting subsequent to their
election or thereafter in each case when their respective
successors are duly elected and qualified. These provisions
could delay for up to two years the replacement of a majority of
the Board.
29
The
Officers
The following table sets forth information with respect to each
officer of the Funds. Officers receive no compensation from the
Funds. The officers are elected by the Board on an annual basis
to serve until successors are elected and qualified.
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Number of
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Portfolios
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Term of Office
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in Fund
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Position(s)
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and
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Complex
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Name, Address
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Held with
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Length of Time
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Principal Occupation(s)
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Served by
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and Birth date
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Fund
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Served
(1)
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During Past 5 Years
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Officer
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Gifford R. Zimmerman
333 West Wacker Drive
Chicago, IL 60606
(9/9/56)
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Chief
Administrative
Officer
|
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Term: Annual
Length of
Service: Since
1988
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Managing Director (since 2002), Assistant Secretary and
Associate General Counsel of Nuveen Investments, LLC; Managing
Director (since 2002), Assistant Secretary and Associate General
Counsel of Nuveen Asset Management; Managing Director (since
2004) and Assistant Secretary (since 1994) of Nuveen
Investments, Inc.; Vice President and Assistant Secretary of NWQ
Investment Management Company, LLC (since 2002) and Nuveen
Investments Advisers Inc. (since 2002); Managing Director,
Associate General Counsel and Assistant Secretary of Symphony
Asset Management LLC (since 2003); Vice President and Assistant
Secretary of Tradewinds Global Investors, LLC and
Santa Barbara Asset Management LLC (since 2006), Nuveen
HydePark Group, LLC and Nuveen Investment Solutions, Inc. (since
2007); Managing Director (since 2005) of Nuveen Commodities
Asset Management, LLC; Chartered Financial Analyst.
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200
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Williams Adams IV
333 West Wacker Drive
Chicago, IL 60606
(6/9/55)
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Vice President
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Term: Annual
Length of
Service: Since
2007
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Executive Vice President, U.S. Structured Products of Nuveen
Investments, LLC (since 1999); Executive Vice President (since
2005) of Nuveen Commodities Asset Management, LLC.
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125
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Cedric H. Antosiewicz
333 West Wacker Drive
Chicago, IL 60606
(1/11/62)
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Vice President
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Term: Annual
Length of
Service: Since
2007
|
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Managing Director (since 2004), previously, Vice President
(1993-2004)
of Nuveen Investments LLC.
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125
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30
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|
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Number of
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|
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Portfolios
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|
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Term of Office
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in Fund
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|
|
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|
Position(s)
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and
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Complex
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Name, Address
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Held with
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Length of Time
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Principal Occupation(s)
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Served by
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and Birth date
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Fund
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Served
(1)
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During Past 5 Years
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Officer
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Nizida Arriaga
333 West Wacker Drive
Chicago, IL 60606
(6/1/68)
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Vice President
|
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Term: Annual
Length of
Service: Since
2009
|
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Senior Vice President (since 2010), formerly, Vice President
(2007-2010) of Nuveen Investments, LLC; previously, portfolio
Manager, Allstate Investments, LLC
(1996-2006);
Chartered Financial Analyst.
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200
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|
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Michael T. Atkinson
333 West Wacker Drive
Chicago, IL 60606
(2/3/66)
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Vice President
and Assistant
Secretary
|
|
Term: Annual
Length of
Service: Since
2002
|
|
Vice President (since 2002) of Nuveen Investments, LLC; Vice
President of Nuveen Asset Management (since 2005).
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|
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200
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|
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Margo L. Cook
333 West Wacker Drive
Chicago, IL 60606
(4/11/64)
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Vice President
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Term: Annual
Length of
Service: Since
2009
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Executive Vice President (since 2008) of Nuveen Investments,
Inc.; previously, Head of Institutional Asset Management
(2007-2008) of Bear Stearns Asset Management; Head of
Institutional Asset Mgt. (1986-2007) of Bank of NY Mellon;
Chartered Financial Analyst.
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200
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|
|
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|
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Lorna C. Ferguson
333 West Wacker Drive
Chicago, IL 60606
(10/24/45)
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Vice President
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Term: Annual
Length of
Service: Since
1998
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Managing Director (since 2004) of Nuveen Investments LLC;
Managing Director (since 2005) of Nuveen Asset Management.
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200
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|
|
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|
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|
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Stephen D. Foy
333 West Wacker Drive
Chicago, IL 60606
(5/31/54)
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|
Vice President
and Controller
|
|
Term: Annual
Length of
Service: Since
1993
|
|
Senior Vice President (since 2010), formerly, Vice President
(1993-2010) and Funds Controller (since 1998) of Nuveen
Investments, LLC; Senior Vice President (since 2010), formerly,
Vice President (2005-2010) of Nuveen Asset Management; Certified
Public Accountant.
|
|
|
200
|
|
|
|
|
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Scott S. Grace
333 West Wacker Drive
Chicago, IL 60606
(8/20/70)
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Vice President
and Treasurer
|
|
Term: Annual
Length of
Service: Since
2009
|
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Managing Director, Corporate Finance & Development,
Treasurer (since 2009) of Nuveen Investments, LLC; Managing
Director and Treasurer of Nuveen Asset Management (since 2009);
formerly, Treasurer
(2006-2009),
Senior Vice President (2008-2009), previously, Vice President
(2006-2008) of Janus Capital Group, Inc.; formerly, Senior
Associate in Morgan Stanley’s Global Financial Services
Group (2000-2003); Chartered Accountant.
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|
200
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31
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Number of
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|
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Portfolios
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|
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|
Term of Office
|
|
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|
in Fund
|
|
|
|
|
Position(s)
|
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and
|
|
|
|
Complex
|
|
Name, Address
|
|
Held with
|
|
Length of Time
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|
Principal Occupation(s)
|
|
Served by
|
|
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and Birth date
|
|
Fund
|
|
Served
(1)
|
|
During Past 5 Years
|
|
Officer
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William T. Huffman
333 West Wacker Drive
Chicago, IL 60606
(5/7/69)
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Vice President
|
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Term: Annual
Length of
Service: Since
2009
|
|
Chief Operating Officer, Municipal Fixed Income (since 2008) of
Nuveen Asset Management; previously, Chairman, President and
Chief Executive Officer (2002-2007) of Northern Trust Global
Advisors, Inc. and Chief Executive Officer (2007) of Northern
Trust Global Investments Limited; Certified Public Accountant.
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136
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Walter M. Kelly
333 West Wacker Drive
Chicago, IL 60606
(2/24/70)
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Chief
Compliance
Officer and
Vice President
|
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Term: Annual
Length of
Service: Since
2003
|
|
Senior Vice President (since 2008) formerly, Vice President
(2006-2008), formerly, Assistant Vice President and Assistant
General Counsel of Nuveen Investments, LLC; Senior Vice
President (since 2008), formerly, Vice President (2006-2008),
and Assistant Secretary (since 2003) of Nuveen Asset Management;
formerly, Assistant Vice President and Assistant Secretary of
the Nuveen Funds (2003-2006).
|
|
|
200
|
|
|
|
|
|
|
|
|
|
|
|
|
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David J. Lamb
333 West Wacker Drive
Chicago, IL 60606
(3/22/63)
|
|
Vice President
|
|
Term: Annual
Length of
Service: Since
2000
|
|
Senior Vice President (since 2009), formerly, Vice President
(2000-2009) of Nuveen Investments, LLC; Senior Vice President
(since 2010), formerly, Vice President (2005-2010) of Nuveen
Asset Management; Certified Public Accountant.
|
|
|
200
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tina M. Lazar
333 West Wacker Drive
Chicago, IL 60606
(8/27/61)
|
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Vice President
|
|
Term: Annual
Length of
Service: Since
2002
|
|
Senior Vice President (since 2009), formerly, Vice President
(1999-2009) of Nuveen Investments, LLC; Senior Vice President
(since 2010), formerly, Vice President (2005-2010) of Nuveen
Asset Management.
|
|
|
200
|
|
|
|
|
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|
32
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|
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|
|
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|
|
|
|
|
|
Number of
|
|
|
|
|
|
|
|
|
|
|
Portfolios
|
|
|
|
|
|
|
Term of Office
|
|
|
|
in Fund
|
|
|
|
|
Position(s)
|
|
and
|
|
|
|
Complex
|
|
Name, Address
|
|
Held with
|
|
Length of Time
|
|
Principal Occupation(s)
|
|
Served by
|
|
|
and Birth date
|
|
Fund
|
|
Served
(1)
|
|
During Past 5 Years
|
|
Officer
|
|
|
|
|
|
|
Larry W. Martin
333 West Wacker Drive
Chicago, IL 60606
(7/27/51)
|
|
Vice President
and Assistant
Secretary
|
|
Term: Annual
Length of
Service: Since
1988
|
|
Senior Vice President (since 2010), formerly, Vice President
(1993-2010), Assistant Secretary and Assistant General Counsel
of Nuveen Investments, LLC; Vice President, Assistant General
Counsel and Assistant Secretary of Nuveen Investments, Inc.;
Vice President (since 2005) and Assistant Secretary (since 1997)
of Nuveen Asset Management; Vice President and Assistant
Secretary of Nuveen Investments Advisers Inc. (since 2002); NWQ
Investment Management Company, LLC (since 2002), Symphony Asset
Management LLC (since 2003), Tradewinds Global Investors, LLC
and Santa Barbara Asset Management LLC (since 2006), Nuveen
Hyde Park Group, LLC and Nuveen Investment Solutions, Inc.
(since 2007).
|
|
|
200
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kevin J. McCarthy
333 West Wacker Drive
Chicago, IL 60606
(3/26/66)
|
|
Vice President
and Secretary
|
|
Term: Annual
Length of
Service: Since
2007
|
|
Managing Director (since 2008), formerly, Vice President
(2007-2008), Nuveen Investments, LLC; Managing Director (since
2008), formerly, Vice President (2007-2008) and Assistant
Secretary (since 2007), Nuveen Asset Management, Nuveen
Investments Advisers Inc., NWQ Investment Management Company,
LLC, Tradewinds Global Investors, LLC, NWQ Holdings, LLC,
Symphony Asset Management LLC, Santa Barbara Asset
Management, LLC, Nuveen HydePark Group, LLC and Nuveen
Investment Solutions, Inc.; prior thereto, Partner, Bell,
Boyd & Lloyd LLP (1997-2007).
|
|
|
200
|
|
|
|
|
|
|
|
|
|
|
|
|
|
33
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
|
|
|
|
|
|
|
|
|
|
|
Portfolios
|
|
|
|
|
|
|
Term of Office
|
|
|
|
in Fund
|
|
|
|
|
Position(s)
|
|
and
|
|
|
|
Complex
|
|
Name, Address
|
|
Held with
|
|
Length of Time
|
|
Principal Occupation(s)
|
|
Served by
|
|
|
and Birth date
|
|
Fund
|
|
Served
(1)
|
|
During Past 5 Years
|
|
Officer
|
|
|
|
|
|
|
John V. Miller
333 West Wacker Drive
Chicago, IL 60606
(4/10/67)
|
|
Vice President
|
|
Term: Annual
Length of
Service: Since
2007
|
|
Chief Investment Officer and Managing Director (since 2007),
formerly, Vice President (2002-2007) of Nuveen Asset Management;
Managing Director (since 2007), formerly, Vice President
(2002-2007) of Nuveen Investments, LLC; Chartered Financial
Analyst.
|
|
|
136
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gregory Mino
333 West Wacker Drive
Chicago, IL 60606
(1/4/71)
|
|
Vice President
|
|
Term: Annual
Length of
Service: Since
2009
|
|
Senior Vice President (since 2010), formerly, Vice President
(2008-2010) of Nuveen Investments, LLC; previously, Director
(2004-2007) and Executive Director (2007-2008) of UBS Global
Asset Management; previously, Vice President (2000-2003) and
Director (2003-2004) of Merrill Lynch Investment Managers;
Chartered Financial Analyst.
|
|
|
200
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Christopher
M. Rohrbacher
333 West Wacker
Drive Chicago, IL 60606
(8/1/71)
|
|
Vice President
and Assistant
Secretary
|
|
Term: Annual
Length of
Service: Since
2008
|
|
Vice President and Assistant Secretary of Nuveen Investments,
LLC (since 2008); Vice President and Assistant Secretary of
Nuveen Asset Management (since 2008); prior thereto, Associate,
Skadden, Arps, Slate Meagher & Flom LLP (2002-2008).
|
|
|
200
|
|
|
|
|
|
|
|
|
|
|
|
|
|
James F. Ruane
333 West Wacker Drive
Chicago, IL 60606
(7/3/62)
|
|
Vice President
and Assistant
Secretary
|
|
Term: Annual
Length of
Service: Since
2007
|
|
Vice President, Nuveen Investments, LLC (since 2007); prior
thereto, Partner, Deloitte & Touche USA LLP (2005-2007),
formerly, senior tax manager (2002-2005); Certified Public
Accountant.
|
|
|
200
|
|
|
|
|
|
|
|
|
|
|
(1)
|
|
Length of Time Served indicates the
year the individual became an officer of a fund in the Nuveen
fund complex.
|
34
|
|
|
|
2.
|
Approval
of the Elimination of Fundamental Investment Policies and
Approval of New Fundamental Policies for each Affected Municipal
Fund
|
The Affected Municipal Funds have adopted certain fundamental
investment policies relating to (i) investments in
municipal securities and below investment grade securities,
(ii) investments in other investment companies
and/or
(iii) investments in derivatives, short sales and
commodities as described below (together, the “Current
Fundamental Policies,” and each, a “Current
Fundamental Policy”), that can only be changed by
shareholder vote. The Current Fundamental Policies adopted by
the Affected Municipal Funds reflected industry and other market
conditions present at the time of the inception of each Fund.
Nuveen’s municipal closed-end funds are seeking to adopt a
uniform, “up to date” set of investment policies (the
“New Investment Policies”). In general, the funds
currently have a somewhat diverse set of policies, reflecting
when the funds were launched over the past 20 years as well
as developments over time in the municipal market, including new
types of securities as well as investment strategies. The
potential benefits of the New Investment Policies to you as a
Fund shareholder are:
|
|
|
|
•
|
enhanced ability of the Affected Municipal Funds to generate
attractive levels of tax-exempt income, while retaining the
Affected Municipal Funds’ orientation on investment grade
quality municipal securities;
|
|
|
|
•
|
increased flexibility in diversifying portfolio risks and
managing duration (the sensitivity of bond prices to interest
rate changes) to pursue the preservation and possible growth of
capital, which, if successful, will help to sustain and build
common shareholder net asset value and asset coverage levels for
preferred shares; and
|
|
|
|
•
|
improved secondary market competitiveness which may benefit
common shareholders through higher relative market price
and/or
stronger premium/discount performance.
|
In order to implement the New Investment Policies, each Affected
Municipal Fund must make certain changes to its existing
policies, including certain fundamental policies that require
your vote of approval. In some cases, this may require your
separate votes to approve the elimination of a Current
Fundamental Policy as well as the implementation of a new,
replacement fundamental policy (together, the “New
Fundamental Policies” and each, a “New Fundamental
Policy”). Because each Affected Municipal Fund tends to be
situated somewhat differently, the specific changes required to
implement the New Investment Policies often vary from fund to
fund.
The primary purposes of these changes are to provide the
Affected Municipal Funds with increased investment flexibility
and to create consistent investment policies for all Nuveen
municipal bond funds to promote operational efficiencies.
Implementation of the New Fundamental Policies is contingent on
shareholder approval of the elimination of the Current
Fundamental Policies.
The Board has unanimously approved, and unanimously recommends
the approval by shareholders of each Affected Municipal Fund,
the elimination of the Current Fundamental Policies of the
Affected Municipal Funds. In connection with eliminating the
Current Fundamental Policies, the Board unanimously approved,
and unanimously recommends the approval by shareholders of each
Affected Municipal Fund of, the New Fundamental Policies,
described
35
below. In addition, the Board has approved certain new
non-fundamental policies, described below (the “New
Non-Fundamental Policies”).
|
|
|
|
|
|
(a)
|
Elimination of Fundamental Policies Relating to Investments
in Municipal Securities and Below Investment Grade Securities
(All Affected Municipal Funds)
|
The Current Fundamental Policies with respect to each Affected
Municipal Fund’s investments in municipal securities and
the ability to invest in below investment grade securities that
are proposed to be eliminated are as follows:
Arizona Dividend Advantage 2, North Carolina Dividend
Advantage and North Carolina Dividend Advantage 2
(i) Under normal [circumstances/market conditions], the
Fund will invest its net assets in a portfolio of municipal
bonds that are exempt from regular federal and [State] income
taxes. Under normal market conditions, the Fund expects to be
fully invested (at least 95% of its assets) in such tax-exempt
municipal bonds.
Missouri Premium Income
(i) [Except to the extent the Fund invests in temporary
investments as described below and more fully in the Statement
of Additional Information], the Fund [will, as a fundamental
policy,] invest substantially all (in excess of 80%) of its
assets in tax-exempt [State] Municipal Obligations rated at the
time of purchase within the four highest grades (Baa or BBB or
better) by Moody’s Investors Services, Inc.
(“Moody’s”) or Standard & Poor’s
Corporation (“S&P”), or in unrated [State]
Municipal Obligations which, in the opinion of the Adviser, have
credit characteristics equivalent to, and will be of comparable
quality to, [State] Municipal Obligations rated within the four
highest grades by Moody’s or S&P, provided that the
Fund may not invest more than 20% of its assets in such unrated
[State] Municipal Obligations.
(ii) The Fund will not invest in any rated [State]
Municipal Obligations that are rated lower than Baa by
Moody’s or BBB by S&P at the time of purchase.
California Market Opportunity
(i) Except to the extent that the Fund buys temporary
investments as described in [the Fund’s Statement of
Additional Information], the Fund will, as a fundamental policy,
invest substantially all of its assets (more than 80%) in
tax-exempt [State] municipal bonds that are rated at the time of
purchase within the four highest grades (Baa or BBB or better)
by Moody’s or Standard and Poor’s, except that the
Fund may invest up to 20% of its assets in unrated [State]
municipal bonds which, in Nuveen Advisory’s opinion, have
credit characteristics equivalent to, and are of comparable
quality to, municipal bonds so rated.
California Quality Income and California Select Quality
(i) Except to the extent that the Fund buys temporary
investments as described in [the Fund’s Statement of
Additional Information], the Fund will, as a fundamental policy,
invest substantially all of its assets (more than 80%) in
tax-exempt California municipal bonds that are rated at the time
of purchase within the four highest
36
grades (Baa or BBB or better) by Moody’s or Standard and
Poor’s, except that the Fund may invest up to 20% of its
assets in unrated California municipal bonds which, in Nuveen
Advisory’s opinion, have credit characteristics equivalent
to, and are of comparable quality to, California municipal bonds
so rated.
|
|
|
|
|
|
(b)
|
Approval of New Fundamental Policy Relating to Investments in
Municipal Securities (All Affected Municipal Funds)
|
The following New Fundamental Policy will replace each Affected
Municipal Fund’s Current Fundamental Policy or Policies
referenced in 2(a) above. Implementation of the following New
Fundamental Policy by each Affected Municipal Fund is contingent
on shareholder approval of the elimination of each Affected
Municipal Fund’s Current Fundamental Policy or Policies.
The proposed New Fundamental Policy with respect to each
Fund’s investments in municipal securities is as follows:
(i) Under normal circumstances, the Fund will invest at
least 80% of its net assets, including assets attributable to
any principal amount of any borrowings (including the issuance
of commercial paper or notes) or any preferred shares
outstanding (“Managed Assets”) in municipal securities
and other related investments, the income from which is exempt
from regular federal [and state] income taxes.
In addition, the Board has adopted New Non-Fundamental Policies
with respect to investing in investment grade securities for
each Affected Municipal Fund, which will be implemented upon the
elimination of the Current Fundamental Policies described in
2(a) above. The New Non-Fundamental Policies relating to
investing in investment grade securities are as follows:
(i) Under normal circumstances, the Fund will invest at
least 80% of its Managed Assets in investment grade securities
that, at the time of investment, are rated within the four
highest grades (Baa or BBB or better) by at least one nationally
recognized statistical rating organization or are unrated but
judged to be of comparable quality by the Fund’s investment
adviser Nuveen Asset Management.
(ii) The Fund may invest up to 20% of its Managed Assets in
municipal securities that at the time of investment are rated
below investment grade or are unrated but judged to be of
comparable quality by Nuveen Asset Management.
(iii) No more than 10% of the Fund’s Managed Assets
may be invested in municipal securities rated below B3/B- or
that are unrated but judged to be of comparable quality by
Nuveen Asset Management.
Related to these changes, the Board of each Affected Municipal
Fund has also amended and standardized the description of
“municipal securities” or “municipal
obligations” in which an Affected Municipal Fund may invest
to include various types of municipal securities. The new
description, tailored as appropriate to each Affected Municipal
Fund, generally provides:
The Fund may invest in various municipal securities, including
municipal bonds and notes, other securities issued to finance
and refinance public projects, and other related securities and
derivative instruments creating exposure to municipal bonds,
notes and securities that provide for the payment of interest
income that is exempt
37
from federal income tax (“Municipal Obligations”).
Municipal Obligations are generally debt obligations issued by
state and local governmental entities and may be issued by
U.S. territories to finance or refinance public projects
such as roads, schools, and water supply systems. Municipal
Obligations may also be issued for private activities, such as
housing, medical and educational facility construction, or for
privately owned transportation, electric utility and pollution
control projects. Municipal Obligations may be issued on a long
term basis to provide permanent financing. The repayment of such
debt may be secured generally by a pledge of the full faith and
credit taxing power of the issuer, a limited or special tax, or
any other revenue source including project revenues, which may
include tolls, fees and other user charges, lease payments, and
mortgage payments. Municipal Obligations may also be issued to
finance projects on a short term interim basis, anticipating
repayment with the proceeds on long term debt. Municipal
Obligations may be issued and purchased in the form of bonds,
notes, leases or certificates of participation; structured as
callable or noncallable; with payment forms including fixed
coupon, variable rate, zero coupon, capital appreciation bonds,
tender option bonds, and residual interest bonds or inverse
floating rate securities; or acquired through investments in
pooled vehicles, partnerships or other investment companies.
Inverse floating rate securities are securities that pay
interest at rates that vary inversely with changes in prevailing
short-term tax-exempt interest rates and represent a leveraged
investment in an underlying municipal security, which may
increase the effective leverage of the Fund.
|
|
|
|
|
|
(c)
|
Elimination of Fundamental Policies Relating to Commodities
(All
Premium/Quality
Funds)
|
The Current Fundamental Policies relating to commodities that
are proposed to be eliminated are as follow:
California Market Opportunity, California Quality Income and
California Select Quality
(i) The Fund, as a fundamental policy, may not purchase or
sell commodities or commodities contracts, except for
transactions involving futures contracts within the limits
described under “Certain Trading Strategies of the
Fund — Financial Futures and Options
Transactions.”*
Missouri Premium Income
(i) The Fund, as a fundamental policy, may not purchase or
sell commodities or commodities contracts, except for
transactions involving futures contracts that represent no more
than 10% of the Fund’s total assets and are otherwise
within the limits described in “Certain Trading Strategies
of The Fund — Financial Futures and Options
Transactions.”*
* References are to a Fund’s registration statement.
38
|
|
|
|
|
|
(d)
|
Approval of New Fundamental Policy Relating to Commodities
(All
Premium/Quality
Funds)
|
It is proposed that each Premium/Quality Fund adopt a New
Fundamental Policy with respect to commodities. The adoption of
the following New Fundamental Policy for each Premium/Quality
Fund is contingent on shareholder approval of the elimination of
that Premium/Quality Fund’s Current Fundamental Policy with
respect to commodities, as reflected in 2(c) above. The proposed
New Fundamental Policy is as follows:
(i) The Fund may not purchase or sell physical commodities
unless acquired as a result of ownership of securities or other
instruments (but this shall not prevent the Fund from purchasing
or selling options, futures contracts or derivative instruments
or from investing in securities or other instruments backed by
physical commodities).
|
|
|
|
|
|
(e)
|
Elimination of Fundamental Policies Relating to Derivatives
and Short Sales (All Premium/Quality Funds)
|
The Current Fundamental Policies relating to derivatives and
short sales that are proposed to be eliminated are as follows:
California Market Opportunity, California Quality Income and
California Select Quality
(i) The Fund may not make short sales of securities or
purchase any securities on margin (except for such short-term
credits as are necessary for the clearance of transactions), or
write or purchase put or call options, except to the extent that
the purchase of a stand-by commitment may be considered the
purchase of a put, and except for transactions involving options
within the limits described [in/under] “Certain Trading
Strategies of The Fund — Financial Futures and Options
Transactions.”
(ii) The Fund may not purchase financial futures and
options except within the limits described in “Certain
Trading Strategies of The Fund — Financial Futures and
Options Transactions.”*
Missouri Premium Income
(i) The Fund may not make short sales of securities or
purchase any securities on margin (except for such short-term
credits as are necessary for the clearance of transactions), or
write or purchase put or call options, except to the extent that
the purchase of a stand-by commitment may be considered the
purchase of a put, and except for transactions involving options
that represent no more than 10% of the Fund’s total assets
and are otherwise within the limits described in “Certain
Trading Strategies of The Fund — Financial Futures and
Options Transactions.”*
(ii) The Fund may not purchase financial futures and
options except for futures and options that represent no more
than 10% of the Fund’s total assets and are
* References are to a Fund’s registration statement.
39
otherwise within the limits described in “Certain Trading
Strategies of The Fund — Financial Futures and Options
Transactions.”*
In connection with the elimination of the Current Fundamental
Policies relating to derivatives and short sales, as reflected
in 2(e) above, the Board has adopted the following New
Non-Fundamental Policies for each of the above Premium/Quality
Funds. The New Non-Fundamental Policies are contingent on
shareholder approval of the elimination of that Premium/Quality
Fund’s Current Fundamental Policies with respect to
derivatives and short sales. The New Non-Fundamental Polices are
as follows:
(i) The Fund may invest in derivative instruments in
pursuit of its investment objectives. Such instruments include
financial futures contracts, swap contracts (including interest
rate and credit default swaps), options on financial futures,
options on swap contracts, or other derivative instruments.
Nuveen Asset Management uses derivatives to seek to enhance
return, to hedge some of the risks of its investments in fixed
income securities or as a substitute for a position in the
underlying asset.
(ii) The Fund may not sell securities short, unless the
Fund owns or has the right to obtain securities equivalent in
kind and amount to the securities sold at no added cost, and
provided that transactions in options, futures contracts,
options on futures contracts, or other derivative instruments
are not deemed to constitute selling securities short.
(iii) The Fund may not enter into futures contracts or
related options or forward contracts, if more than 30% of the
Fund’s net assets would be represented by futures contracts
or more than 5% of the Fund’s net assets would be committed
to initial margin deposits and premiums on futures contracts and
related options.
|
|
|
|
|
|
(f)
|
Elimination of the Fundamental Policy Prohibiting Investment
in Other Investment Companies (All Premium/Quality Funds)
|
The Premium/Quality Funds do not have specific restrictions as
to investments in other investment companies. However, each such
Premium/Quality Fund has an investment policy which only permits
investment in municipal obligations and temporary investments
and thereby prohibits investment in other investment companies.
The general restriction that only permits investment in
municipal obligations and temporary investments is as follows:
(i) The Fund may not invest in securities other than
[state] Municipal Obligations and temporary investments[,] as
described [in/under] “Investment Objective and Policies [of
the Funds] — Portfolio Investments.”*
In addition, with respect to each Fund’s ability to invest
in other investment companies, the Board has adopted a New
Non-Fundamental Policy to be implemented upon the elimination of
that Premium/Quality Fund’s Current Fundamental Policy
prohibiting
* References are to a Fund’s registration statement.
40
investments in other investment companies. The proposed New
Non-Fundamental Policy relating to investments in other
investment companies is as follows:
(i) The Fund may invest up to 10% of its Managed Assets in
securities of other open- or closed-end investment companies
(including exchange-traded funds (often referred to as
“ETFs”)) that invest primarily in municipal securities
of the types in which the Fund may invest directly.
Board
Recommendation
The Board believes that eliminating the Current Fundamental
Policies and adopting the New Investment Policies gives the
Adviser flexibility to rapidly respond to continuing
developments in the municipal market and would enhance the
portfolio managers’ ability to meet each Affected Municipal
Fund’s investment objective. In addition, the Board
believes that the proposed changes will create consistent
investment policies for all Nuveen municipal bond funds and will
help to promote operational efficiencies.
The Board recommends that shareholders of each Affected
Municipal Fund vote to approve the elimination of each Current
Fundamental Policy and vote to approve each New Fundamental
Policy.
Audit
Committee Report
The Audit Committee of each Board is responsible for the
oversight and monitoring of (1) the accounting and
reporting policies, processes and practices, and the audit of
the financial statements, of each Fund, (2) the quality and
integrity of the Funds’ financial statements and
(3) the independent registered public accounting
firm’s qualifications, performance and independence. In its
oversight capacity, the committee reviews each Fund’s
annual financial statements with both management and the
independent registered public accounting firm and the committee
meets periodically with the independent registered public
accounting firm and internal auditors to consider their
evaluation of each Fund’s financial and internal controls.
The committee also selects, retains, evaluates and may replace
each Fund’s independent registered public accounting firm.
The committee is currently composed of five Independent Board
Members and operates under a written charter adopted and
approved by each Board. Each committee member meets the
independence and experience requirements, as applicable, of the
New York Stock Exchange, NYSE Amex, Section 10A of the
1934 Act and the rules and regulations of the SEC.
The committee, in discharging its duties, has met with and held
discussions with management and each Fund’s independent
registered public accounting firm. The committee has also
reviewed and discussed the audited financial statements with
management. Management has represented to the independent
registered public accounting firm that each Fund’s
financial statements were prepared in accordance with generally
accepted accounting principles. The committee has also discussed
with the independent registered public accounting firm the
matters required to be discussed by Statement on Auditing
Standards (“SAS”) No. 114, (The Auditor’s
Communication With Those Charged With Governance), which
supersedes SAS No. 61 (Communication with Audit
Committees). Each Fund’s independent registered public
accounting firm provided to the committee the written disclosure
required by Public Company Accounting Oversight Board
Rule 3526 (Communications with Audit Committees Concerning
Independence), and the committee discussed with representatives
of the independent registered public accounting firm their
firm’s independence. As provided in the Audit Committee
41
Charter, it is not the committee’s responsibility to
determine, and the considerations and discussions referenced
above do not ensure, that each Fund’s financial statements
are complete and accurate and presented in accordance with
generally accepted accounting principles.
Based on the committee’s review and discussions with
management and the independent registered public accounting
firm, the representations of management and the report of the
independent registered public accounting firm to the committee,
the committee has recommended that the audited financial
statements be included in each Fund’s Annual Report.
The current members of the committee are:
Robert P. Bremner
Jack B. Evans
David J. Kundert
William J. Schneider
Terence J. Toth
42
Audit and Related Fees.
The following tables provide the
aggregate fees billed during each Fund’s last two fiscal
years by each Fund’s independent registered accounting firm
for engagements directly related to the operations and financial
reporting of each Fund, including those relating (i) to
each Fund for services provided to the Fund and (ii) to the
Adviser and certain entities controlling, controlled by, or
under common control with the Adviser that provide ongoing
services to each Fund (“Adviser Entities”).
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Audit Related Fees
|
|
Tax Fees
|
|
|
|
|
|
|
|
|
|
|
|
Adviser and
|
|
|
|
Adviser and
|
|
All Other Fees
|
|
|
|
Audit Fees
|
|
|
|
Adviser
|
|
|
|
Adviser
|
|
|
|
Adviser and
|
|
|
|
Fund
(1)
|
|
Fund
(2)
|
|
Entities
|
|
Fund
(3)
|
|
Entities
|
|
Fund
(4)
|
|
Adviser Entities
|
|
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
|
|
|
|
|
|
Floating Rate Income
|
|
$
|
68,028
|
|
|
$
|
67,144
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
10,000
|
|
|
$
|
10,000
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Floating Rate Income Opportunity
|
|
|
49,347
|
|
|
|
48,211
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
10,000
|
|
|
|
10,000
|
|
|
|
0
|
|
|
|
0
|
|
|
Senior Income
|
|
|
35,625
|
|
|
|
37,945
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
16,000
|
|
|
|
10,000
|
|
|
|
0
|
|
|
|
0
|
|
|
Tax-Advantaged Floating Rate
|
|
|
24,000
|
|
|
|
24,100
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
2,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Arizona Dividend Advantage
|
|
|
8,264
|
|
|
|
8,343
|
|
|
|
0
|
|
|
|
6,250
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Arizona Dividend Advantage 2
|
|
|
8,906
|
|
|
|
9,002
|
|
|
|
0
|
|
|
|
6,250
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Arizona Dividend Advantage 3
|
|
|
9,229
|
|
|
|
9,300
|
|
|
|
0
|
|
|
|
6,250
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Arizona Premium Income
|
|
|
10,109
|
|
|
|
10,252
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
3,400
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
California Dividend
Advantage
(5)
|
|
|
21,843
|
|
|
|
22,589
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
California Dividend Advantage
2
(5)
|
|
|
17,675
|
|
|
|
17,483
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
California Dividend Advantage
3
(5)
|
|
|
22,326
|
|
|
|
22,997
|
|
|
|
0
|
|
|
|
20,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
California Investment
Quality
(5)
|
|
|
16,482
|
|
|
|
16,765
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
California Market
Opportunity
(5)
|
|
|
12,970
|
|
|
|
12,717
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
California
Value
(5)
|
|
|
14,994
|
|
|
|
15,264
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
California Value
2
(6)
|
|
|
N/A
|
|
|
|
8,994
|
|
|
|
N/A
|
|
|
|
0
|
|
|
|
N/A
|
|
|
|
0
|
|
|
|
N/A
|
|
|
|
0
|
|
|
|
N/A
|
|
|
|
0
|
|
|
|
N/A
|
|
|
|
0
|
|
|
|
N/A
|
|
|
|
0
|
|
|
California Performance Plus
|
|
|
16,334
|
|
|
|
16,347
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
California Premium Income
|
|
|
11,182
|
|
|
|
11,028
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
California Quality Income
|
|
|
23,119
|
|
|
|
23,135
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
California Select
Quality
(5)
|
|
|
23,133
|
|
|
|
23,460
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
Insured California Dividend
Advantage
(5)
|
|
|
18,156
|
|
|
|
18,316
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Insured California Premium
Income
(5)
|
|
|
11,946
|
|
|
|
11,924
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
Insured California Premium Income
2
(5)
|
|
|
15,647
|
|
|
|
15,808
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
43
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Audit Related Fees
|
|
Tax Fees
|
|
|
|
|
|
|
|
|
|
|
|
Adviser and
|
|
|
|
Adviser and
|
|
All Other Fees
|
|
|
|
Audit Fees
|
|
|
|
Adviser
|
|
|
|
Adviser
|
|
|
|
Adviser and
|
|
|
|
Fund
(1)
|
|
Fund
(2)
|
|
Entities
|
|
Fund
(3)
|
|
Entities
|
|
Fund
(4)
|
|
Adviser Entities
|
|
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
|
|
|
|
|
|
Insured California Tax-Free
Advantage
(5)
|
|
$
|
11,059
|
|
|
$
|
11,198
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
850
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Connecticut Dividend Advantage
|
|
|
9,100
|
|
|
|
9,120
|
|
|
|
0
|
|
|
|
12,500
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Connecticut Dividend Advantage 2
|
|
|
8,916
|
|
|
|
8,942
|
|
|
|
0
|
|
|
|
12,500
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Connecticut Dividend Advantage 3
|
|
|
10,292
|
|
|
|
10,412
|
|
|
|
0
|
|
|
|
15,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Connecticut Premium Income
|
|
|
10,967
|
|
|
|
10,967
|
|
|
|
0
|
|
|
|
15,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Georgia Dividend Advantage
|
|
|
8,643
|
|
|
|
8,719
|
|
|
|
0
|
|
|
|
15,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Georgia Dividend Advantage 2
|
|
|
10,345
|
|
|
|
10,486
|
|
|
|
0
|
|
|
|
15,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Georgia Premium Income
|
|
|
9,902
|
|
|
|
9,972
|
|
|
|
0
|
|
|
|
15,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Maryland Dividend Advantage
|
|
|
10,090
|
|
|
|
10,123
|
|
|
|
0
|
|
|
|
12,500
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Maryland Dividend Advantage 2
|
|
|
10,120
|
|
|
|
10,163
|
|
|
|
0
|
|
|
|
12,500
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Maryland Dividend Advantage 3
|
|
|
10,899
|
|
|
|
11,036
|
|
|
|
0
|
|
|
|
15,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Maryland Premium Income
|
|
|
14,742
|
|
|
|
14,818
|
|
|
|
0
|
|
|
|
15,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Massachusetts Dividend Advantage
|
|
|
8,597
|
|
|
|
8,691
|
|
|
|
0
|
|
|
|
12,500
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Massachusetts Premium Income
|
|
|
10,495
|
|
|
|
10,697
|
|
|
|
0
|
|
|
|
15,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Insured Massachusetts Tax-Free Advantage
|
|
|
9,197
|
|
|
|
9,336
|
|
|
|
0
|
|
|
|
15,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Michigan Dividend
Advantage
(7)
|
|
|
8,641
|
|
|
|
8,720
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Michigan Premium
Income
(7)
|
|
|
12,753
|
|
|
|
12,700
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
Michigan Quality
Income
(7)
|
|
|
15,986
|
|
|
|
15,852
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
Missouri Premium Income
|
|
|
8,718
|
|
|
|
8,837
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
New Jersey Dividend Advantage
|
|
|
11,738
|
|
|
|
11,876
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
New Jersey Dividend Advantage 2
|
|
|
10,310
|
|
|
|
10,465
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
New Jersey Investment Quality
|
|
|
21,756
|
|
|
|
21,785
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
3,400
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
New Jersey
Value
(8)
|
|
|
5,000
|
|
|
|
8,085
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
New Jersey Premium Income
|
|
|
16,100
|
|
|
|
16,154
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
3,400
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
North Carolina Dividend Advantage
|
|
|
8,908
|
|
|
|
8,958
|
|
|
|
0
|
|
|
|
12,500
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
North Carolina Dividend Advantage 2
|
|
|
9,992
|
|
|
|
10,081
|
|
|
|
0
|
|
|
|
12,500
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
North Carolina Dividend Advantage 3
|
|
|
10,041
|
|
|
|
10,151
|
|
|
|
0
|
|
|
|
15,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
44
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Audit Related Fees
|
|
Tax Fees
|
|
|
|
|
|
|
|
|
|
|
|
Adviser and
|
|
|
|
Adviser and
|
|
All Other Fees
|
|
|
|
Audit Fees
|
|
|
|
Adviser
|
|
|
|
Adviser
|
|
|
|
Adviser and
|
|
|
|
Fund
(1)
|
|
Fund
(2)
|
|
Entities
|
|
Fund
(3)
|
|
Entities
|
|
Fund
(4)
|
|
Adviser Entities
|
|
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
Fiscal
|
|
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
Year
|
|
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
Ended
|
|
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
2009
|
|
2010
|
|
|
|
|
|
|
|
North Carolina Premium Income
|
|
$
|
11,772
|
|
|
$
|
11,882
|
|
|
$
|
0
|
|
|
$
|
15,000
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
850
|
|
|
$
|
850
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Ohio Dividend
Advantage
(7)
|
|
|
10,325
|
|
|
|
10,376
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Ohio Dividend Advantage
2
(7)
|
|
|
9,452
|
|
|
|
9,523
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Ohio Dividend Advantage
3
(7)
|
|
|
8,832
|
|
|
|
8,892
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Ohio Quality
Income
(7)
|
|
|
14,823
|
|
|
|
14,927
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
Pennsylvania
Value
(8)
|
|
|
5,000
|
|
|
|
7,897
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Pennsylvania Dividend Advantage
|
|
|
9,532
|
|
|
|
9,635
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Pennsylvania Dividend Advantage 2
|
|
|
9,886
|
|
|
|
9,866
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Pennsylvania Investment Quality
|
|
|
18,743
|
|
|
|
18,859
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Pennsylvania Premium Income 2
|
|
|
17,824
|
|
|
|
17,824
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Texas Quality Income
|
|
|
14,008
|
|
|
|
14,097
|
|
|
|
0
|
|
|
|
6,250
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Virginia Dividend Advantage
|
|
|
9,292
|
|
|
|
9,506
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Virginia Dividend Advantage 2
|
|
|
11,197
|
|
|
|
11,477
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
Virginia Premium Income
|
|
|
13,515
|
|
|
|
13,551
|
|
|
|
0
|
|
|
|
4,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
|
|
(1)
|
“Audit Fees” are the aggregate fees billed for
professional services for the audit of the Fund’s annual
financial statements and services provided in connection with
statutory and regulatory filings or engagements.
|
|
(2)
|
“Audit Related Fees” are the aggregate fees billed for
assurance and related services reasonably related to the
performance of audit or review of financial statements and are
not reported under “Audit Fees.”
|
|
(3)
|
“Tax Fees” are the aggregate fees billed for
professional services for tax advice, tax compliance and tax
planning.
|
|
(4)
|
“All Other Fees” are the aggregate fees billed for
products and services for
agreed-upon
procedures engagements for the leveraged Funds.
|
|
(5)
|
The Fund changed its fiscal year end from August 31 to February
28 beginning in 2009.
|
|
(6)
|
The Fund commenced operations on April 28, 2009.
|
|
|
|
|
|
(7)
|
|
The Fund changed its fiscal year
end from July 31 to February 28 beginning in 2009.
|
|
(8)
|
|
The Fund commenced operations on
April 27, 2009.
|
45
Non-Audit Fees.
The following tables provide the
aggregate non-audit fees billed by each Fund’s independent
registered accounting firm for services rendered to each Fund,
the Adviser and the Adviser Entities during each Fund’s
last two fiscal years.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-Audit Fees
|
|
|
|
|
|
|
|
|
|
Billed to Adviser and
|
|
|
|
|
|
|
|
|
|
Adviser Entities
|
|
|
|
|
|
|
|
|
|
(Engagements Related
|
|
Total Non-Audit Fees
|
|
|
|
|
|
|
|
Directly to the Operations
|
|
Billed to Adviser and
|
|
|
|
|
|
Total Non-Audit Fees
|
|
and Financial Reporting
|
|
Adviser Entities (All Other
|
|
|
|
|
|
Billed to Fund
|
|
of Fund)
|
|
Engagements)
|
|
Total
|
|
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fund
|
|
Ended 2009
|
|
Ended 2010
|
|
Ended 2009
|
|
Ended 2010
|
|
Ended 2009
|
|
Ended 2010
|
|
Ended 2009
|
|
Ended 2010
|
|
|
|
|
|
Floating Rate Income
|
|
$
|
10,000
|
|
|
$
|
10,000
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
10,000
|
|
|
$
|
10,000
|
|
|
Floating Rate Income Opportunity
|
|
|
10,000
|
|
|
|
10,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
10,000
|
|
|
|
10,000
|
|
|
Senior Income
|
|
|
16,000
|
|
|
|
10,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
16,000
|
|
|
|
10,000
|
|
|
Tax-Advantaged Floating Rate
|
|
|
2,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
2,000
|
|
|
|
0
|
|
|
Arizona Dividend Advantage
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Arizona Dividend Advantage 2
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Arizona Dividend Advantage 3
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Arizona Premium Income
|
|
|
3,400
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
3,400
|
|
|
|
3,400
|
|
|
California Dividend
Advantage
(1)
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
California Dividend Advantage
2
(1)
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
California Dividend Advantage
3
(1)
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
California Investment
Quality
(1)
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
California Market
Opportunity
(1)
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
California
Value
(1)
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
California Value
2
(2)
|
|
|
N/A
|
|
|
|
0
|
|
|
|
N/A
|
|
|
|
0
|
|
|
|
N/A
|
|
|
|
0
|
|
|
|
N/A
|
|
|
|
0
|
|
|
California Performance
Plus
(1)
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
California Premium
Income
(1)
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
California Quality
Income
(1)
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
California Select
Quality
(1)
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
Insured California Dividend
Advantage
(1)
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Insured California Premium
Income
(1)
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
Insured California Premium Income
2
(1)
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
Insured California Tax-Free
Advantage
(1)
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
0
|
|
46
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-Audit Fees
|
|
|
|
|
|
|
|
|
|
Billed to Adviser and
|
|
|
|
|
|
|
|
|
|
Adviser Entities
|
|
|
|
|
|
|
|
|
|
(Engagements Related
|
|
Total Non-Audit Fees
|
|
|
|
|
|
|
|
Directly to the Operations
|
|
Billed to Adviser and
|
|
|
|
|
|
Total Non-Audit Fees
|
|
and Financial Reporting
|
|
Adviser Entities (All Other
|
|
|
|
|
|
Billed to Fund
|
|
of Fund)
|
|
Engagements)
|
|
Total
|
|
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fund
|
|
Ended 2009
|
|
Ended 2010
|
|
Ended 2009
|
|
Ended 2010
|
|
Ended 2009
|
|
Ended 2010
|
|
Ended 2009
|
|
Ended 2010
|
|
|
|
|
|
Connecticut Dividend Advantage
|
|
$
|
850
|
|
|
$
|
850
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
850
|
|
|
$
|
850
|
|
|
Connecticut Dividend Advantage 2
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Connecticut Dividend Advantage 3
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Connecticut Premium Income
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Georgia Dividend Advantage
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Georgia Dividend Advantage 2
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Georgia Premium Income
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Maryland Dividend Advantage
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Maryland Dividend Advantage 2
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Maryland Dividend Advantage 3
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Maryland Premium Income
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Massachusetts Dividend Advantage
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Massachusetts Premium Income
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Insured Massachusetts Tax-Free Advantage
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Michigan Dividend
Advantage
(3)
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Michigan Premium
Income
(3)
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
Michigan Quality
Income
(3)
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
Missouri Premium Income
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
New Jersey Dividend Advantage
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
New Jersey Dividend Advantage 2
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
New Jersey Investment Quality
|
|
|
3,400
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
3,400
|
|
|
|
3,400
|
|
|
New Jersey
Value
(4)
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
New Jersey Premium Income
|
|
|
3,400
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
3,400
|
|
|
|
3,400
|
|
|
North Carolina Dividend Advantage
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
North Carolina Dividend Advantage 2
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
47
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Non-Audit Fees
|
|
|
|
|
|
|
|
|
|
Billed to Adviser and
|
|
|
|
|
|
|
|
|
|
Adviser Entities
|
|
|
|
|
|
|
|
|
|
(Engagements Related
|
|
Total Non-Audit Fees
|
|
|
|
|
|
|
|
Directly to the Operations
|
|
Billed to Adviser and
|
|
|
|
|
|
Total Non-Audit Fees
|
|
and Financial Reporting
|
|
Adviser Entities (All Other
|
|
|
|
|
|
Billed to Fund
|
|
of Fund)
|
|
Engagements)
|
|
Total
|
|
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fiscal Year
|
|
Fund
|
|
Ended 2009
|
|
Ended 2010
|
|
Ended 2009
|
|
Ended 2010
|
|
Ended 2009
|
|
Ended 2010
|
|
Ended 2009
|
|
Ended 2010
|
|
|
|
|
|
North Carolina Dividend Advantage 3
|
|
$
|
850
|
|
|
$
|
850
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
850
|
|
|
$
|
850
|
|
|
North Carolina Premium Income
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Ohio Dividend
Advantage
(3)
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Ohio Dividend Advantage
2
(3)
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Ohio Dividend Advantage
3
(3)
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Ohio Quality
Income
(3)
|
|
|
1,700
|
|
|
|
3,400
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
1,700
|
|
|
|
3,400
|
|
|
Pennsylvania
Value
(4)
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Pennsylvania Dividend Advantage
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Pennsylvania Dividend Advantage 2
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Pennsylvania Investment Quality
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Pennsylvania Premium Income 2
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Texas Quality Income
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Virginia Dividend Advantage
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Virginia Dividend Advantage 2
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
Virginia Premium Income
|
|
|
850
|
|
|
|
850
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
850
|
|
|
|
850
|
|
|
|
|
|
|
|
|
|
(1)
|
The Fund changed its fiscal year end from August 31 to February
28 beginning in 2009.
|
|
(2)
|
The Fund commenced operations on April 28, 2009.
|
|
(3)
|
The Fund changed its fiscal year end from July 31 to February 28
beginning in 2009.
|
|
(4)
|
The Fund commenced operations on April 27, 2009.
|
48
Audit Committee Pre-Approval Policies and
Procedures.
Generally, the audit committee must
approve each Fund’s independent registered public
accounting firm’s engagements (i) with the Fund for
audit or non-audit services and (ii) with the Adviser and
Adviser Entities for non-audit services if the engagement
relates directly to the operations and financial reporting of
the Fund. Regarding tax and research projects conducted by the
independent registered public accounting firm for each Fund and
the Adviser and Adviser Entities (with respect to the operations
and financial reporting of each Fund), such engagements will be
(i) pre-approved by the audit committee if they are
expected to be for amounts greater than $10,000;
(ii) reported to the audit committee chairman for his
verbal approval prior to engagement if they are expected to be
for amounts under $10,000 but greater than $5,000; and
(iii) reported to the audit committee at the next audit
committee meeting if they are expected to be for an amount under
$5,000.
The audit committee has approved in advance all audit services
and non-audit services that the independent registered public
accounting firm provided to each Fund and to the Adviser and
Adviser Entities (with respect to the operations and financial
reporting of each Fund). None of the services rendered by the
independent registered public accounting firm to each Fund or
the Adviser or Adviser Entities were pre-approved by the audit
committee pursuant to the pre-approval exception under
Rule 2.01(c)(7)(i)(C) or Rule 2.01(c)(7)(ii) of
Regulation S-X.
Additional
Information
Appointment
of the Independent Registered Public
Accounting Firm
Each Board has appointed Ernst & Young LLP as
independent registered public accounting firm to audit the books
and records of each Fund for its current fiscal year. A
representative of Ernst & Young LLP will be present at
the Annual Meetings to make a statement, if such representative
so desires, and to respond to shareholders’ questions.
Ernst & Young LLP has informed each Fund that it has
no direct or indirect material financial interest in the Funds,
Nuveen, the Adviser or any other investment company sponsored by
Nuveen.
Section 16(a)
Beneficial Interest Reporting Compliance
Section 30(h) of the 1940 Act and Section 16(a) of the
1934 Act require Board Members and officers, the Adviser,
affiliated persons of the Adviser and persons who own more than
10% of a registered class of a Fund’s equity securities to
file forms reporting their affiliation with that Fund and
reports of ownership and changes in ownership of that
Fund’s shares with the SEC and the New York Stock Exchange
or NYSE Amex, as applicable. These persons and entities are
required by SEC regulation to furnish the Funds with copies of
all Section 16(a) forms they file. Based on a review of
these forms furnished to each Fund, each Fund believes that its
Board Members and officers, Adviser and affiliated persons of
the Adviser have complied with all applicable Section 16(a)
filing requirements during its last fiscal year. To the
knowledge of management of the Funds, no shareholder of a Fund
owns more than 10% of a registered class of a Fund’s equity
securities, except as provided in Appendix B.]
Information
About the Adviser
The Adviser, located at 333 West Wacker Drive, Chicago,
Illinois 60606, serves as investment adviser and manager for
each Fund. The Adviser is a wholly-owned subsidiary of Nuveen.
Nuveen is a wholly-owned subsidiary of Windy City, a corporation
formed by investors led by
49
Madison Dearborn Partners, LLC (“MDP”), a private
equity investment firm based in Chicago, Illinois. Windy City is
controlled by MDP on behalf of the Madison Dearborn Capital
Partner V funds.
Shareholder
Proposals
To be considered for presentation at the annual meeting of
shareholders of the Funds to be held in 2011, a shareholder
proposal submitted pursuant to
Rule 14a-8
of the 1934 Act must be received at the offices of that
Fund, 333 West Wacker Drive, Chicago, Illinois 60606, not
later than June 7, 2011. A shareholder wishing to provide
notice in the manner prescribed by
Rule 14a-4(c)(1)
of a proposal submitted outside of the process of
Rule 14a-8
must, pursuant to each Fund’s By-Laws, submit such written
notice to the Fund not later than August 22, 2011 or prior
to August 5, 2011. Timely submission of a proposal does not
mean that such proposal will be included in a proxy statement.
Shareholder
Communications
Fund shareholders who want to communicate with the Board or any
individual Board Member should write to the attention of Lorna
Ferguson, Manager of Fund Board Relations, Nuveen
Investments, 333 West Wacker Drive, Chicago, Illinois
60606. The letter should indicate that you are a Fund
shareholder and note the fund or funds that you own. If the
communication is intended for a specific Board Member and so
indicates it will be sent only to that Board Member. If a
communication does not indicate a specific Board Member it will
be sent to the Independent Chairman and the outside counsel to
the Independent Board Members for further distribution as deemed
appropriate by such persons.
Expenses
of Proxy Solicitation
With respect to routine items, such as the election of Board
Members, the cost of preparing, printing and mailing the
enclosed proxy, accompanying notice and proxy statement and all
other costs in connection with the solicitation of proxies will
be paid by the Funds pro rata based on the number of shareholder
accounts. For non-routine items, such as updating investment
policies, the costs in connection with the solicitation of
proxies will be paid by the Funds subject to such non-routine
items based on the number of shareholder accounts. Additional
solicitation may be made by letter or telephone by officers or
employees of Nuveen or the Adviser, or by dealers and their
representatives. Any additional costs of solicitation will be
paid by the Fund that requires additional solicitation.
Fiscal
Year
The fiscal year end is: February 28 for California Dividend
Advantage, California Dividend Advantage 2, California Dividend
Advantage 3, California Investment Quality, California Market
Opportunity, California Value, California Value 2, California
Performance Plus, California Premium Income, California Quality
Income, California Select Quality, Insured California Dividend
Advantage, Insured California Premium Income, Insured California
Premium Income 2, Insured California Tax-Free Advantage,
Michigan Dividend Advantage, Michigan Premium Income, Michigan
Quality Income, Ohio Dividend Advantage, Ohio Dividend Advantage
2, Ohio Dividend Advantage 3, Ohio Quality Income; April 30 for
New Jersey Dividend Advantage, New Jersey Dividend Advantage 2,
New Jersey Investment Quality, New Jersey Value, New Jersey
Premium Income, Pennsylvania Value, Pennsylvania Dividend
Advantage, Pennsylvania Dividend Advantage 2, Pennsylvania
Investment Quality and Pennsylvania Premium Income 2;
50
May 31 for Connecticut Dividend Advantage, Connecticut
Dividend Advantage 2, Connecticut Dividend Advantage 3,
Connecticut Premium Income, Georgia Dividend Advantage, Georgia
Dividend Advantage 2, Georgia Premium Income, Maryland Dividend
Advantage, Maryland Dividend Advantage 2, Maryland Dividend
Advantage 3, Massachusetts Dividend Advantage, Massachusetts
Premium Income, Insured Massachusetts Tax-Free Advantage,
Missouri Premium Income, North Carolina Dividend Advantage,
North Carolina Dividend Advantage 2, North Carolina Dividend
Advantage 3, North Carolina Premium Income, Virginia Dividend
Advantage, Virginia Dividend Advantage 2 and Virginia Premium
Income; June 30 for Tax-Advantaged Floating Rate; and July 31
for Floating Rate Income, Floating Rate Income Opportunity,
Senior Income, Arizona Dividend Advantage, Arizona Dividend
Advantage 2, Arizona Dividend Advantage 3, Arizona Premium
Income, and Texas Quality Income.
Annual
Report Delivery
Annual reports will be sent to shareholders of record of each
Fund following each Fund’s fiscal year end. Each Fund will
furnish, without charge, a copy of its annual report
and/or
semi-annual report as available upon request. Such written or
oral requests should be directed to such Fund at 333 West
Wacker Drive, Chicago, Illinois 60606 or by calling
1-800-257-8787.
Important Notice Regarding the Availability of Proxy
Materials for the Shareholder Meeting To Be Held on
November 16, 2010:
Each Fund’s Proxy Statement is available at
www.nuveen.com/CEF/Info/Share-holder/ProxyStatements.aspx. For
more information, shareholders may also contact the applicable
Fund at the address and phone number set forth above.
Please note that only one annual report, semi-annual report or
proxy statement may be delivered to two or more shareholders of
a Fund who share an address, unless the Fund has received
instructions to the contrary. To request a separate copy of an
annual report, semi-annual report or proxy statement, or for
instructions as to how to request a separate copy of such
documents or as to how to request a single copy if multiple
copies of such documents are received, shareholders should
contact the applicable Fund at the address and phone number set
forth above.
General
Management does not intend to present and does not have reason
to believe that any other items of business will be presented at
the Annual Meetings. However, if other matters are properly
presented to the Annual Meetings for a vote, the proxies will be
voted by the persons acting under the proxies upon such matters
in accordance with their judgment of the best interests of the
Fund.
A list of shareholders entitled to be present and to vote at
each Annual Meeting will be available at the offices of the
Funds, 333 West Wacker Drive, Chicago, Illinois, for
inspection by any shareholder during regular business hours
beginning ten days prior to the date of the Annual Meeting.
Failure of a quorum to be present at any Annual Meeting will
necessitate adjournment and will subject that Fund to additional
expense. The persons named in the enclosed proxy may also move
for an adjournment of any Annual Meeting to permit further
solicitation of proxies with respect to the proposal if they
determine that adjournment and further solicitation is
51
reasonable and in the best interests of the shareholders. Under
each Fund’s By-Laws, an adjournment of a meeting with
respect to a matter requires the affirmative vote of a majority
of the shares entitled to vote on the matter present in person
or represented by proxy at the meeting.
IF YOU CANNOT BE PRESENT AT THE MEETING, YOU ARE REQUESTED TO
FILL IN, SIGN AND RETURN THE ENCLOSED PROXY PROMPTLY. NO POSTAGE
IS REQUIRED IF MAILED IN THE UNITED STATES.
Kevin J. McCarthy
Vice President and Secretary
October 11, 2010
52
APPENDIX A
Beneficial
Ownership
The following table lists the dollar range of equity securities
beneficially owned by each Board Member nominee in each Fund and
in all Nuveen funds overseen by the Board Member nominee as of
December 31, 2009. The information as to beneficial
ownership is based on statements furnished by each Board Member
and officer.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floating
|
|
|
|
|
|
Tax-
|
|
|
|
|
|
|
|
|
|
|
Floating
|
|
|
Rate
|
|
|
|
|
|
Advantaged
|
|
|
Arizona
|
|
|
Arizona
|
|
Board Member
|
|
Rate
|
|
|
Income
|
|
|
Senior
|
|
|
Floating
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Nominees
|
|
Income
|
|
|
Opportunity
|
|
|
Income
|
|
|
Rate
|
|
|
Advantage
|
|
|
Advantage 2
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Jack B. Evans
|
|
|
$10,001-$50,000
|
|
|
|
$0
|
|
|
|
$50,001-$100,000
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
William C. Hunter
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
David J. Kundert
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
William J. Schneider
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Judith M. Stockdale
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Carole E. Stone
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Terence J. Toth
|
|
|
$0
|
|
|
|
$50,001-$100,000
|
|
|
|
Over $100,000
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$10,001-$50,000
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Arizona
|
|
|
Arizona
|
|
|
California
|
|
|
California
|
|
|
California
|
|
|
California
|
|
Board Member
|
|
Dividend
|
|
|
Premium
|
|
|
Premium
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Investment
|
|
|
Nominees
|
|
Advantage 3
|
|
|
Income
|
|
|
Advantage
|
|
|
Advantage 2
|
|
|
Advantage 3
|
|
|
Quality
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Jack B. Evans
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
William C. Hunter
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
David J. Kundert
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
William J. Schneider
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Judith M. Stockdale
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Carole E. Stone
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Terence J. Toth
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
|
|
A-1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dollar Range of Equity Securities
|
|
|
|
|
California
|
|
|
|
|
|
|
|
|
California
|
|
|
California
|
|
|
California
|
|
|
California
|
|
Board Member
|
|
Market
|
|
|
California
|
|
|
California
|
|
|
Performance
|
|
|
Premium
|
|
|
Quality
|
|
|
Select
|
|
|
Nominees
|
|
Opportunity
|
|
|
Value
|
|
|
Value 2
|
|
|
Plus
|
|
|
Income
|
|
|
Income
|
|
|
Quality
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Jack B. Evans
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
William C. Hunter
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
David J. Kundert
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
William J. Schneider
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Judith M. Stockdale
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Carole E. Stone
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Terence J. Toth
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Insured
|
|
|
Insured
|
|
|
Insured
|
|
|
Insured
|
|
|
|
|
|
|
|
|
|
|
California
|
|
|
California
|
|
|
California
|
|
|
California
|
|
|
Connecticut
|
|
|
Connecticut
|
|
Board Member
|
|
Dividend
|
|
|
Premium
|
|
|
Premium
|
|
|
Tax-Free
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Nominees
|
|
Advantage
|
|
|
Income
|
|
|
Income 2
|
|
|
Advantage
|
|
|
Advantage
|
|
|
Advantage 2
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Jack B. Evans
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
William C. Hunter
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
David J. Kundert
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
William J. Schneider
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Judith M. Stockdale
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Carole E. Stone
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Terence J. Toth
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
|
|
A-2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dollar Range of Equity Securities
|
|
|
|
|
Connecticut
|
|
|
Connecticut
|
|
|
Georgia
|
|
|
Georgia
|
|
|
Georgia
|
|
|
Maryland
|
|
Board Member
|
|
Dividend
|
|
|
Premium
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Premium
|
|
|
Dividend
|
|
|
Nominees
|
|
Advantage 3
|
|
|
Income
|
|
|
Advantage
|
|
|
Advantage 2
|
|
|
Income
|
|
|
Advantage
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Jack B. Evans
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
William C. Hunter
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
David J. Kundert
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
William J. Schneider
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Judith M. Stockdale
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Carole E. Stone
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Terence J. Toth
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Insured
|
|
|
|
|
Maryland
|
|
|
Maryland
|
|
|
Maryland
|
|
|
Massachusetts
|
|
|
Massachusetts
|
|
|
Massachusetts
|
|
Board Member
|
|
Dividend
|
|
|
Dividend
|
|
|
Premium
|
|
|
Dividend
|
|
|
Premium
|
|
|
Tax-Free
|
|
|
Nominees
|
|
Advantage 2
|
|
|
Advantage 3
|
|
|
Income
|
|
|
Advantage
|
|
|
Income
|
|
|
Advantage
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Jack B. Evans
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
William C. Hunter
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
David J. Kundert
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
William J. Schneider
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Judith M. Stockdale
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Carole E. Stone
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Terence J. Toth
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
|
|
A-3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dollar Range of Equity Securities
|
|
|
|
|
Michigan
|
|
|
Michigan
|
|
|
Michigan
|
|
|
Missouri
|
|
|
New Jersey
|
|
|
New Jersey
|
|
Board Member
|
|
Dividend
|
|
|
Premium
|
|
|
Quality
|
|
|
Premium
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Nominees
|
|
Advantage
|
|
|
Income
|
|
|
Income
|
|
|
Income
|
|
|
Advantage
|
|
|
Advantage 2
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Jack B. Evans
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
William C. Hunter
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
David J. Kundert
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
William J. Schneider
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Judith M. Stockdale
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Carole E. Stone
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Terence J. Toth
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North
|
|
|
North
|
|
|
North
|
|
|
North
|
|
|
|
|
New Jersey
|
|
|
|
|
|
New Jersey
|
|
|
Carolina
|
|
|
Carolina
|
|
|
Carolina
|
|
|
Carolina
|
|
Board Member
|
|
Investment
|
|
|
New Jersey
|
|
|
Premium
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Premium
|
|
|
Nominees
|
|
Quality
|
|
|
Value
|
|
|
Income
|
|
|
Advantage
|
|
|
Advantage 2
|
|
|
Advantage 3
|
|
|
Income
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Jack B. Evans
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
William C. Hunter
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
David J. Kundert
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
William J. Schneider
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Judith M. Stockdale
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Carole E. Stone
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Terence J. Toth
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
|
|
|
A-4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dollar Range of Equity Securities
|
|
|
|
|
Ohio
|
|
|
Ohio
|
|
|
Ohio
|
|
|
Ohio
|
|
|
|
|
|
Pennsylvania
|
|
|
Pennsylvania
|
|
Board Member
|
|
Dividend
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Quality
|
|
|
Pennsylvania
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Nominees
|
|
Advantage
|
|
|
Advantage 2
|
|
|
Advantage 3
|
|
|
Income
|
|
|
Value
|
|
|
Advantage
|
|
|
Advantage 2
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Jack B. Evans
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
William C. Hunter
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
David J. Kundert
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
William J. Schneider
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Judith M. Stockdale
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Carole E. Stone
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Terence J. Toth
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dollar Range of Equity Securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aggregate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Range of
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Securities All
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Registered
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Companies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overseen by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Board Member
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nominees in
|
|
|
|
|
Pennsylvania
|
|
|
Pennsylvania
|
|
|
Texas
|
|
|
Virginia
|
|
|
Virginia
|
|
|
Virginia
|
|
|
Family of
|
|
Board Member
|
|
Investment
|
|
|
Premium
|
|
|
Quality
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Premium
|
|
|
Investment
|
|
|
Nominees
|
|
Quality
|
|
|
Income 2
|
|
|
Income
|
|
|
Advantage
|
|
|
Advantage 2
|
|
|
Income
|
|
|
Companies
(1)
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
Over $100,000
|
|
|
Jack B. Evans
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
Over $100,000
|
|
|
William C. Hunter
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
Over $100,000
|
|
|
David J. Kundert
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
Over $100,000
|
|
|
William J. Schneider
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
Over $100,000
|
|
|
Judith M. Stockdale
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
Over $100,000
|
|
|
Carole E. Stone
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
Over $100,000
|
|
|
Terence J. Toth
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
Over $100,000
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
$0
|
|
|
|
Over $100,000
|
|
|
|
|
|
|
|
|
|
(1)
|
The amounts reflect the aggregate dollar range of equity
securities and the number of shares beneficially owned by the
Board Member in the Funds and in all Nuveen funds overseen by
the Board Member.
|
A-5
The following table sets forth, for each Board Member and Board
Member Nominee and for the Board Members and Board Member
Nominees and officers as a group, the amount of shares
beneficially owned in each Fund as of December 31, 2009.
The information as to beneficial ownership is based on
statements furnished by each Board Member and officer.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fund Shares Owned By Board Members And
Officers
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax-
|
|
|
|
|
|
|
|
|
|
|
Floating
|
|
|
Floating
|
|
|
|
|
|
Advantaged
|
|
|
Arizona
|
|
|
Arizona
|
|
Board Member
|
|
Rate
|
|
|
Rate Income
|
|
|
Senior
|
|
|
Floating
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Nominees
|
|
Income
|
|
|
Opportunity
|
|
|
Income
|
|
|
Rate
|
|
|
Advantage
|
|
|
Advantage 2
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Jack B. Evans
|
|
|
1,600
|
|
|
|
0
|
|
|
|
10,000
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William C. Hunter
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
David J. Kundert
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William J. Schneider
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Judith M. Stockdale
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Carole E. Stone
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Terence J. Toth
|
|
|
0
|
|
|
|
8,329
|
|
|
|
14,608
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
16,845
|
|
|
|
0
|
|
|
|
0
|
|
|
All Board Members and Officers as a Group
|
|
|
1,600
|
|
|
|
8,329
|
|
|
|
24,608
|
|
|
|
16,845
|
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fund Shares Owned By Board Members And
Officers
(1)
|
|
|
|
|
Arizona
|
|
|
Arizona
|
|
|
California
|
|
|
California
|
|
|
California
|
|
|
California
|
|
Board Member
|
|
Dividend
|
|
|
Premium
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Investment
|
|
|
Nominees
|
|
Advantage 3
|
|
|
Income
|
|
|
Advantage
|
|
|
Advantage 2
|
|
|
Advantage 3
|
|
|
Quality
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Jack B. Evans
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William C. Hunter
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
David J. Kundert
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William J. Schneider
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Judith M. Stockdale
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Carole E. Stone
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Terence J. Toth
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
All Board Members and Officers as a Group
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
|
|
(1)
|
The numbers include share equivalents of certain Nuveen funds in
which the Board Member is deemed to be invested pursuant to the
Deferred Compensation Plan.
|
A-6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fund Shares Owned By Board Members And
Officers
(1)
|
|
|
|
|
California
|
|
|
|
|
|
|
|
|
California
|
|
|
California
|
|
|
California
|
|
|
California
|
|
Board Member
|
|
Market
|
|
|
California
|
|
|
California
|
|
|
Performance
|
|
|
Premium
|
|
|
Quality
|
|
|
Select
|
|
|
Nominees
|
|
Opportunity
|
|
|
Value
|
|
|
Value 2
|
|
|
Plus
|
|
|
Income
|
|
|
Income
|
|
|
Quality
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Jack B. Evans
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William C. Hunter
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
David J. Kundert
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William J. Schneider
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Judith M. Stockdale
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Carole E. Stone
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Terence J. Toth
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
0
|
|
|
|
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
All Board Members and Officers as a Group
|
|
|
0
|
|
|
|
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fund Shares Owned By Board Members And
Officers
(1)
|
|
|
|
|
Insured
|
|
|
Insured
|
|
|
Insured
|
|
|
Insured
|
|
|
|
|
|
|
|
|
|
|
California
|
|
|
California
|
|
|
California
|
|
|
California
|
|
|
Connecticut
|
|
|
Connecticut
|
|
Board Member
|
|
Dividend
|
|
|
Premium
|
|
|
Premium
|
|
|
Tax-Free
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Nominees
|
|
Advantage
|
|
|
Income
|
|
|
Income 2
|
|
|
Advantage
|
|
|
Advantage
|
|
|
Advantage 2
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Jack B. Evans
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William C. Hunter
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
David J. Kundert
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William J. Schneider
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Judith M. Stockdale
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Carole E. Stone
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Terence J. Toth
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
All Board Members and Officers as a Group
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
|
|
(1)
|
The numbers include share equivalents of certain Nuveen funds in
which the Board Member is deemed to be invested pursuant to the
Deferred Compensation Plan.
|
A-7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fund Shares Owned By Board Members And
Officers
(1)
|
|
|
|
|
Connecticut
|
|
|
Connecticut
|
|
|
Georgia
|
|
|
Georgia
|
|
|
Georgia
|
|
|
Maryland
|
|
Board Member
|
|
Dividend
|
|
|
Premium
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Premium
|
|
|
Dividend
|
|
|
Nominees
|
|
Advantage 3
|
|
|
Income
|
|
|
Advantage
|
|
|
Advantage 2
|
|
|
Income
|
|
|
Advantage
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Jack B. Evans
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William C. Hunter
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
David J. Kundert
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William J. Schneider
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Judith M. Stockdale
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Carole E. Stone
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Terence J. Toth
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
All Board Members and Officers as a Group
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Insured
|
|
|
|
|
Maryland
|
|
|
Maryland
|
|
|
Maryland
|
|
|
Massachusetts
|
|
|
Massachusetts
|
|
|
Massachusetts
|
|
Board Member
|
|
Dividend
|
|
|
Dividend
|
|
|
Premium
|
|
|
Dividend
|
|
|
Premium
|
|
|
Tax-Free
|
|
|
Nominees
|
|
Advantage 2
|
|
|
Advantage 3
|
|
|
Income
|
|
|
Advantage
|
|
|
Income
|
|
|
Advantage
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Jack B. Evans
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William C. Hunter
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
David J. Kundert
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William J. Schneider
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Judith M. Stockdale
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Carole E. Stone
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Terence J. Toth
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
All Board Members and Officers as a Group
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
|
|
(1)
|
The numbers include share equivalents of certain Nuveen funds in
which the Board Member is deemed to be invested pursuant to the
Deferred Compensation Plan.
|
A-8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fund Shares Owned By Board Members And
Officers
(1)
|
|
|
|
|
Michigan
|
|
|
Michigan
|
|
|
Michigan
|
|
|
Missouri
|
|
|
New Jersey
|
|
|
New Jersey
|
|
Board Member
|
|
Dividend
|
|
|
Premium
|
|
|
Quality
|
|
|
Premium
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Nominees
|
|
Advantage
|
|
|
Income
|
|
|
Income
|
|
|
Income
|
|
|
Advantage
|
|
|
Advantage 2
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Jack B. Evans
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William C. Hunter
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
David J. Kundert
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William J. Schneider
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Judith M. Stockdale
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Carole E. Stone
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Terence J. Toth
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
All Board Members and Officers as a Group
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North
|
|
|
North
|
|
|
North
|
|
|
North
|
|
|
|
|
New Jersey
|
|
|
|
|
|
New Jersey
|
|
|
Carolina
|
|
|
Carolina
|
|
|
Carolina
|
|
|
Carolina
|
|
Board Member
|
|
Investment
|
|
|
New Jersey
|
|
|
Premium
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Premium
|
|
|
Nominees
|
|
Quality
|
|
|
Value
|
|
|
Income
|
|
|
Advantage
|
|
|
Advantage 2
|
|
|
Advantage 3
|
|
|
Income
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Jack B. Evans
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William C. Hunter
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
David J. Kundert
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William J. Schneider
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Judith M. Stockdale
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Carole E. Stone
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Terence J. Toth
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
All Board Members and Officers as a Group
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
|
|
(1)
|
The numbers include share equivalents of certain Nuveen funds in
which the Board Member is deemed to be invested pursuant to the
Deferred Compensation Plan.
|
A-9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fund Shares Owned By Board Members And
Officers
(1)
|
|
|
|
|
Ohio
|
|
|
Ohio
|
|
|
Ohio
|
|
|
Ohio
|
|
|
|
|
|
Pennsylvania
|
|
|
Pennsylvania
|
|
Board Member
|
|
Dividend
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Quality
|
|
|
Pennsylvania
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Nominees
|
|
Advantage
|
|
|
Advantage 2
|
|
|
Advantage 3
|
|
|
Income
|
|
|
Value
|
|
|
Advantage
|
|
|
Advantage 2
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Jack B. Evans
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William C. Hunter
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
David J. Kundert
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William J. Schneider
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
57
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Judith M. Stockdale
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Carole E. Stone
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Terence J. Toth
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
0
|
|
|
All Board Members and Officers as a Group
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
57
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fund Shares Owned By Board Members And
Officers
(1)
|
|
|
|
|
Pennsylvania
|
|
|
Pennsylvania
|
|
|
Texas
|
|
|
Virginia
|
|
|
Virginia
|
|
|
Virginia
|
|
Board Member
|
|
Investment
|
|
|
Premium
|
|
|
Quality
|
|
|
Dividend
|
|
|
Dividend
|
|
|
Premium
|
|
|
Nominees
|
|
Quality
|
|
|
Income 2
|
|
|
Income
|
|
|
Advantage
|
|
|
Advantage 2
|
|
|
Income
|
|
|
|
|
|
|
|
Board Members/Nominees who are not interested persons of the
Funds
|
|
Robert P. Bremner
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Jack B. Evans
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William C. Hunter
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
David J. Kundert
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
William J. Schneider
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Judith M. Stockdale
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Carole E. Stone
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Terence J. Toth
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
Board Member/Nominee who is an interested person of the
Funds
|
|
John P. Amboian
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
All Board Members and Officers as a Group
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
0
|
|
|
|
|
|
|
|
|
|
(1)
|
The numbers include share equivalents of certain Nuveen funds in
which the Board Member is deemed to be invested pursuant to the
Deferred Compensation Plan.
|
A-10
APPENDIX B
List of Beneficial Owners Who Own More Than 5% of Any Class
of Shares in Any Fund
The following chart lists each shareholder or group of
shareholders who beneficially own more than 5% of any class of
shares of any Fund*:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
Floating Rate Income (JFR)
— Common Shares
|
|
First Trust Portfolios
L.P.
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
8,540,896
|
|
|
|
18.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First Trust Advisors
L.P.
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Charger
Corporation
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Floating Rate Income Opportunity (JRO)
— Common Shares
|
|
First Trust Portfolios
L.P.
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
4,550,991
|
|
|
|
16.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First Trust Advisors
L.P.
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Charger
Corporation
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Senior Income (NSL)
— Common Shares
|
|
First Trust Portfolios
L.P.
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
5,335,312
|
|
|
|
17.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First Trust Advisors
L.P.
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Charger
Corporation
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Arizona Dividend Advantage (NFZ)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
131
|
|
|
|
30.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
39
|
|
|
|
9.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
68
|
|
|
|
16.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
27
|
|
|
|
6.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
41
|
|
|
|
9.70%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Merrill Lynch, Pierce, Fenner & Smith, Inc.
4 World Financial Center
250 Vesey Street
New York, NY 10080
|
|
|
27
|
|
|
|
6.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Arizona Dividend Advantage 2 (NKR)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
120
|
|
|
|
16.70%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
63
|
|
|
|
9.47%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
139
|
|
|
|
20.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
128
|
|
|
|
19.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Merrill Lynch, Pierce, Fenner & Smith, Inc.
4 World Financial Center
250 Vesey Street
New York, NY 10080
|
|
|
128
|
|
|
|
15.10%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Karpus Management, Inc., d/b/a
Karpus Investment Management
183 Sully’s Trail
Pittsford, New York 14534
|
|
|
85
|
|
|
|
12.78%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Arizona Dividend Advantage 3 (NXE)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
350
|
|
|
|
42.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
76
|
|
|
|
10.33%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Arizona Premium Income (NAZ)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
158
|
|
|
|
13.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
94
|
|
|
|
8.43%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
401
|
|
|
|
35.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
394
|
|
|
|
35.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Karpus Management, Inc., d/b/a
Karpus Investment Management
183 Sully’s Trail
Pittsford, New York 14534
|
|
|
74
|
|
|
|
6.64%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
California Dividend Advantage (NAC)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
426
|
|
|
|
7.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
1,243
|
|
|
|
22.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
815
|
|
|
|
15.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
428
|
|
|
|
7.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
California Dividend Advantage 2 (NVX)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
367
|
|
|
|
8.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
563
|
|
|
|
14.70%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
279
|
|
|
|
7.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
282
|
|
|
|
7.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
224
|
|
|
|
5.83%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(NVX) — Common Shares
|
|
First Trust Portfolios
L.P.
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
940,462
|
|
|
|
6.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First Trust Advisors
L.P.
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Charger
Corporation
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
California Dividend Advantage 3 (NZH)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
335
|
|
|
|
12.10%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
408
|
|
|
|
14.70%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
408
|
|
|
|
14.70%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
395
|
|
|
|
6.41%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(NZH) — MuniFund Term Preferred Shares
|
|
Karpus Management, Inc., d/b/a
Karpus Investment Management
183 Sully’s Trail
Pittsford, New York 14534
|
|
|
580,000
|
|
|
|
6.72%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(NZH) — Common Shares
|
|
First Trust Portfolios
L.P.
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
1,452,573
|
|
|
|
6.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First Trust Advisors
L.P.
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Charger
Corporation
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
California Investment Quality (NQC)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
941
|
|
|
|
24.80%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
396
|
|
|
|
10.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
545
|
|
|
|
14.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
California Market Opportunity (NCO)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
430
|
|
|
|
22.04%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Merrill Lynch, Pierce, Fenner & Smith, Inc.
4 World Financial Center
250 Vesey Street
New York, NY 10080
|
|
|
140
|
|
|
|
7.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
201
|
|
|
|
10.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
California Performance Plus (NCP)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
187
|
|
|
|
5.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
481
|
|
|
|
14.70%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
246
|
|
|
|
7.50%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
211
|
|
|
|
6.50%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
California Premium Income (NCU)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
572
|
|
|
|
41.60%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
105
|
|
|
|
7.60%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
467
|
|
|
|
34.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan
Stanley
(c)
1585 Broadway
New York, NY 10036
|
|
|
90
|
|
|
|
5.80%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan Stanley & Co.
Inc.
(c)
1585 Broadway
New York, NY 10036
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
California Quality Income (NUC)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
413
|
|
|
|
6.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
912
|
|
|
|
14.50%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
441
|
|
|
|
7.01%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
471
|
|
|
|
7.49%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
431
|
|
|
|
6.85%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
California Select Quality (NVC)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
430
|
|
|
|
6.50%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
927
|
|
|
|
14.67%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
371
|
|
|
|
5.87%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
JP Morgan Chase & Co.
270 Park Ave.
New York, NY 10017
|
|
|
465
|
|
|
|
6.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
556
|
|
|
|
8.80%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Karpus Management, Inc., d/b/a
Karpus Investment Management
183 Sully’s Trail
Pittsford, New York 14534
|
|
|
385
|
|
|
|
6.09%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Insured California Dividend Advantage (NKL)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
560
|
|
|
|
12.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
655
|
|
|
|
15.10%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
377
|
|
|
|
8.70%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
269
|
|
|
|
6.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
249
|
|
|
|
5.75%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(NKL) — Common Shares
|
|
First Trust Portfolios
L.P.
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
1,029,017
|
|
|
|
6.80%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First Trust Advisors
L.P.
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Charger
Corporation
(a)
1001 Warrenville Road
Lisle, IL 60532
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
Insured California Premium Income (NPC)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
592
|
|
|
|
32.89%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Merrill Lynch, Pierce, Fenner & Smith, Inc.
4 World Financial Center
250 Vesey Street
New York, NY 10080
|
|
|
146
|
|
|
|
8.10%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
133
|
|
|
|
7.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
313
|
|
|
|
17.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan
Stanley
(c)
1585 Broadway
New York, NY 10036
|
|
|
104
|
|
|
|
5.80%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan Stanley & Co.
Inc.
(c)
1585 Broadway
New York, NY 10036
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Insured California Premium Income 2 (NCL)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
689
|
|
|
|
23.49%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
196
|
|
|
|
6.68%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
493
|
|
|
|
16.81%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Connecticut Dividend Advantage (NFC)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
193
|
|
|
|
27.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
172
|
|
|
|
24.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan
Stanley
(c)
1585 Broadway
New York, NY 10036
|
|
|
63
|
|
|
|
8.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Morgan Stanley & Co.
Inc.
(c)
1585 Broadway
New York, NY 10036
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Connecticut Dividend Advantage 2 (NGK)
— Auction Rate Preferred Shares
|
|
Bank of America
Corporation
(d)
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
111
|
|
|
|
18.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments,
L.L.C.
(d)
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan
Stanley
(c)
1585 Broadway
New York, NY 10036
|
|
|
54
|
|
|
|
8.70%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan Stanley & Co.
Inc.
(c)
1585 Broadway
New York, NY 10036
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Connecticut Dividend Advantage 3 (NGO)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
207
|
|
|
|
18.3.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
185
|
|
|
|
16.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Connecticut Premium Income (NTC)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
248
|
|
|
|
18.50%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
113
|
|
|
|
17.97%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
97
|
|
|
|
15.42%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-11
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Morgan
Stanley
(c)
1585 Broadway
New York, NY 10036
|
|
|
184
|
|
|
|
13.8%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan Stanley & Co.
Inc.
(c)
1585 Broadway
New York, NY 10036
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
70
|
|
|
|
5.23%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Georgia Dividend Advantage (NZX)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
91
|
|
|
|
16.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
32
|
|
|
|
5.80%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
59
|
|
|
|
10.60%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Georgia Dividend Advantage 2 (NKG)
— Auction Rate Preferred Shares
|
|
Bank of America
Corporation
(e)
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
81
|
|
|
|
6.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America,
N.A.
(e)
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Georgia Premium Income (NPG)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
280
|
|
|
|
27.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
227
|
|
|
|
22.10%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
53
|
|
|
|
5.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan
Stanley
(c)
1585 Broadway
New York, NY 10036
|
|
|
54
|
|
|
|
5.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Morgan Stanley & Co.
Inc.
(c)
1585 Broadway
New York, NY 10036
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maryland Dividend Advantage (NFM)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
71
|
|
|
|
6.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan
Stanley
(c)
1585 Broadway
New York, NY 10036
|
|
|
55
|
|
|
|
5.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan Stanley & Co.
Inc.
(c)
1585 Broadway
New York, NY 10036
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maryland Dividend Advantage 2 (NZR)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
89
|
|
|
|
8.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
56
|
|
|
|
5.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(NZR) — MuniFund Term Preferred Shares
|
|
Karpus Management, Inc., d/b/a
Karpus Investment Management
183 Sully’s Trail
Pittsford, New York 14534
|
|
|
306,500
|
|
|
|
11.23%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maryland Dividend Advantage 3 (NWI)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
594
|
|
|
|
42.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maryland Premium Income (NMY)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
479
|
|
|
|
36.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-13
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
160
|
|
|
|
5.60%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
157
|
|
|
|
5.50%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Massachusetts Dividend Advantage (NMB)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
86
|
|
|
|
15.10%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
80
|
|
|
|
14.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan
Stanley
(c)
1585 Broadway
New York, NY 10036
|
|
|
46
|
|
|
|
8.10%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan Stanley & Co.
Inc.
(c)
1585 Broadway
New York, NY 10036
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Massachusetts Premium Income (NMT)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
174
|
|
|
|
30.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
174
|
|
|
|
30.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021 Zurich, Switzerland
|
|
|
210
|
|
|
|
15.44%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Insured Massachusetts Tax-Free Advantage (NGX)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
45
|
|
|
|
5.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
43
|
|
|
|
5.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-14
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Morgan
Stanley
(c)
1585 Broadway
New York, NY 10036
|
|
|
58
|
|
|
|
7.10%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan Stanley & Co.
Inc.
(c)
1585 Broadway
New York, NY 10036
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Michigan Dividend Advantage (NZW)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
139
|
|
|
|
24.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Michigan Premium Income (NMP)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
286
|
|
|
|
13.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
234
|
|
|
|
10.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
234
|
|
|
|
10.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
282
|
|
|
|
13.13%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Michigan Quality Income (NUM)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
397
|
|
|
|
11.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-15
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
670
|
|
|
|
19.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
657
|
|
|
|
18.80%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
471
|
|
|
|
13.48%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Missouri Premium Income (NOM)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
255
|
|
|
|
39.80%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
96
|
|
|
|
15.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
159
|
|
|
|
24.80%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Jersey Dividend Advantage (NXJ)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
179
|
|
|
|
9.70%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-16
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Morgan
Stanley
(c)
1585 Broadway
New York, NY 10036
|
|
|
168
|
|
|
|
9.60%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan Stanley & Co.
Inc.
(c)
1585 Broadway
New York, NY 10036
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
375
|
|
|
|
21.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
375
|
|
|
|
21.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Jersey Dividend Advantage 2 (NUJ)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
219
|
|
|
|
16.80%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
283
|
|
|
|
22.70%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
203
|
|
|
|
16.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North Carolina Dividend Advantage (NRB)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
37
|
|
|
|
5.70%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
37
|
|
|
|
5.70%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North Carolina Premium Income (NNC)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
99
|
|
|
|
11.50%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-17
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
98
|
|
|
|
11.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ohio Dividend Advantage (NXI)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
186
|
|
|
|
15.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
142
|
|
|
|
11.50%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
129
|
|
|
|
10.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
209
|
|
|
|
18.02%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ohio Dividend Advantage 2 (NBJ)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
96
|
|
|
|
10.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
112
|
|
|
|
12.10%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-18
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
94
|
|
|
|
10.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
114
|
|
|
|
12.34%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ohio Dividend Advantage 3 (NVJ)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
69
|
|
|
|
10.50%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
33
|
|
|
|
5.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
32
|
|
|
|
5.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
114
|
|
|
|
18.39%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Karpus Management, Inc., d/b/a
Karpus Investment Management
183 Sully’s Trail
Pittsford, New York 14534
|
|
|
65
|
|
|
|
10.48%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ohio Quality Income (NUO)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
222
|
|
|
|
7.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-19
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
740
|
|
|
|
25.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
690
|
|
|
|
23.60%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
342
|
|
|
|
11.51%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Karpus Management, Inc., d/b/a
Karpus Investment Management
183 Sully’s Trail
Pittsford, New York 14534
|
|
|
218
|
|
|
|
7.08%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pennsylvania Dividend Advantage (NXM)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
238
|
|
|
|
26.40%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
51
|
|
|
|
5.60%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
39
|
|
|
|
4.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pennsylvania Dividend Advantage 2 (NVY)
— Auction Rate Preferred Shares
|
|
Citigroup Global Markets
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
220
|
|
|
|
23.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup Financial Products
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-20
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
Citigroup Global Markets Holdings
Inc.
(b)
388 Greenwich Street
New York, NY 10013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Citigroup
Inc.
(b)
399 Park Avenue
New York, NY 10043
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Texas Quality Income (NTX)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
1,274
|
|
|
|
49.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
1,159
|
|
|
|
44.50%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan
Stanley
(c)
1585 Broadway
New York, NY 10036
|
|
|
162
|
|
|
|
6.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan Stanley & Co.
Inc.
(c)
1585 Broadway
New York, NY 10036
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
174
|
|
|
|
6.69%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Virginia Dividend Advantage (NGB)
— Auction Rate Preferred Shares
|
|
Morgan
Stanley
(c)
1585 Broadway
New York, NY 10036
|
|
|
83
|
|
|
|
8.70%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Morgan Stanley & Co.
Inc.
(c)
1585 Broadway
New York, NY 10036
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Virginia Dividend Advantage 2 (NNB)
— MuniFund Term Preferred Shares
|
|
Karpus Management, Inc., d/b/a
Karpus Investment Management
183 Sully’s Trail
Pittsford, New York 14534
|
|
|
506,800
|
|
|
|
13.41%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Virginia Premium Income (NPV)
— Auction Rate Preferred Shares
|
|
Bank of America Corporation
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
176
|
|
|
|
17.20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Blue Ridge Investments, L.L.C.
214 North Tryon Street
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
85
|
|
|
|
8.30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America, N.A.
100 North Tryon Street, Floor 25
Bank of America Corporate Center
Charlotte, NC 28255
|
|
|
91
|
|
|
|
8.90%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B-21
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of
|
|
|
Percentage
|
|
|
Fund and Class
|
|
Shareholder Name and Address
|
|
Shares Owned
|
|
|
Owned
|
|
|
|
|
|
|
|
|
|
UBS AG
Bahnhoftstrasse 45
PO Box CH-8021
Zurich, Switzerland
|
|
|
132
|
|
|
|
5.79%
|
|
|
|
|
|
|
*
|
|
The information contained in this
table is based on Schedule 13G filings made on or after
December 1, 2009.
|
|
|
|
(a)
|
|
First Trust Portfolios L.P.,
First Trust Advisors L.P. and The Charger Corporation filed
their schedule 13G jointly and did not differentiate
holdings as to each entity.
|
|
|
|
(b)
|
|
Citigroup Global Markets Inc.,
Citigroup Financial Products Inc., Citigroup Global Markets
Holdings Inc. and Citigroup Inc. filed their Schedule 13G
jointly and did not differentiate holdings as to each entity.
|
|
|
|
(c)
|
|
Morgan Stanley and Morgan
Stanley & Co., Inc. filed their schedule 13G
jointly and did not differentiate holdings as to each entity.
|
|
|
|
(d)
|
|
Bank of America Corporation and
Blue Ridge Investments, L.L.C. filed their schedule 13G
jointly and did not differentiate holdings as to each entity.
|
|
|
|
(e)
|
|
Bank of America Corporation and
Bank of America, N.A. filed their schedule 13G jointly and
did not differentiate holdings as to each entity.
|
B-22
APPENDIX C
NUMBER OF
BOARD AND COMMITTEE MEETINGS
HELD DURING EACH FUND’S LAST FISCAL YEAR
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compliance, Risk
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Management
|
|
|
|
|
|
Nominating
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
and Regulatory
|
|
|
|
|
|
and
|
|
|
|
|
Regular
|
|
|
Special
|
|
|
Executive
|
|
|
Dividend
|
|
|
Oversight
|
|
|
Audit
|
|
|
Governance
|
|
|
|
|
Board
|
|
|
Board
|
|
|
Committee
|
|
|
Committee
|
|
|
Committee
|
|
|
Committee
|
|
|
Committee
|
|
|
Fund
|
|
Meeting
|
|
|
Meeting
|
|
|
Meeting
|
|
|
Meeting
|
|
|
Meeting
|
|
|
Meeting
|
|
|
Meeting
|
|
|
|
|
|
|
|
Floating Rate Income
|
|
|
5
|
|
|
|
4
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Floating Rate Income Opportunity
|
|
|
5
|
|
|
|
4
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Senior Income
|
|
|
5
|
|
|
|
4
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Tax Advantaged Floating Rate
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Arizona Dividend Advantage
|
|
|
5
|
|
|
|
9
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Arizona Dividend Advantage 2
|
|
|
5
|
|
|
|
9
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Arizona Dividend Advantage 3
|
|
|
5
|
|
|
|
9
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Arizona Premium Income
|
|
|
5
|
|
|
|
9
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
California Dividend Advantage
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
California Dividend Advantage 2
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
California Dividend Advantage 3
|
|
|
5
|
|
|
|
10
|
|
|
|
1
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
California Investment Quality
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
California Market Opportunity
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
California Value
|
|
|
5
|
|
|
|
6
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
California Value 2
|
|
|
5
|
|
|
|
6
|
|
|
|
1
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
California Performance Plus
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
California Premium Income
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
California Quality Income
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
California Select Quality
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Insured California Dividend Advantage
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Insured California Premium Income
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Insured California Premium Income 2
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Insured California Tax-Free Advantage
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Connecticut Dividend Advantage
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
C-1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compliance, Risk
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Management
|
|
|
|
|
|
Nominating
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
and Regulatory
|
|
|
|
|
|
and
|
|
|
|
|
Regular
|
|
|
Special
|
|
|
Executive
|
|
|
Dividend
|
|
|
Oversight
|
|
|
Audit
|
|
|
Governance
|
|
|
|
|
Board
|
|
|
Board
|
|
|
Committee
|
|
|
Committee
|
|
|
Committee
|
|
|
Committee
|
|
|
Committee
|
|
|
Fund
|
|
Meeting
|
|
|
Meeting
|
|
|
Meeting
|
|
|
Meeting
|
|
|
Meeting
|
|
|
Meeting
|
|
|
Meeting
|
|
|
|
|
|
|
|
Connecticut Dividend Advantage 2
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Connecticut Dividend Advantage 3
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Connecticut Premium Income
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Georgia Dividend Advantage
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Georgia Dividend Advantage 2
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Georgia Premium Income
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Maryland Dividend Advantage
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Maryland Dividend Advantage 2
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Maryland Dividend Advantage 3
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Maryland Premium Income
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Massachusetts Dividend Advantage
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Massachusetts Premium Income
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Insured Massachusetts Tax-Free Advantage
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Michigan Dividend Advantage
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
2
|
|
|
Michigan Premium Income
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
2
|
|
|
Michigan Quality Income
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
2
|
|
|
Missouri Premium Income
|
|
|
5
|
|
|
|
5
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
New Jersey Dividend Advantage
|
|
|
5
|
|
|
|
5
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
New Jersey Dividend Advantage 2
|
|
|
5
|
|
|
|
5
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
New Jersey Investment Quality
|
|
|
5
|
|
|
|
5
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
New Jersey Value
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
|
|
|
New Jersey Premium Income
|
|
|
5
|
|
|
|
5
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
North Carolina Dividend Advantage
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
North Carolina Dividend Advantage 2
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
North Carolina Dividend Advantage 3
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
North Carolina Premium Income
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Ohio Dividend Advantage
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
2
|
|
|
Ohio Dividend Advantage 2
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
2
|
|
|
Ohio Dividend Advantage 3
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
2
|
|
|
Ohio Quality Income
|
|
|
5
|
|
|
|
10
|
|
|
|
0
|
|
|
|
5
|
|
|
|
5
|
|
|
|
4
|
|
|
|
2
|
|
C-2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compliance, Risk
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Management
|
|
|
|
|
|
Nominating
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
and Regulatory
|
|
|
|
|
|
and
|
|
|
|
|
Regular
|
|
|
Special
|
|
|
Executive
|
|
|
Dividend
|
|
|
Oversight
|
|
|
Audit
|
|
|
Governance
|
|
|
|
|
Board
|
|
|
Board
|
|
|
Committee
|
|
|
Committee
|
|
|
Committee
|
|
|
Committee
|
|
|
Committee
|
|
|
Fund
|
|
Meeting
|
|
|
Meeting
|
|
|
Meeting
|
|
|
Meeting
|
|
|
Meeting
|
|
|
Meeting
|
|
|
Meeting
|
|
|
|
|
|
|
|
Pennsylvania Value
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
|
|
|
Pennsylvania Dividend Advantage
|
|
|
5
|
|
|
|
5
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Pennsylvania Dividend Advantage 2
|
|
|
5
|
|
|
|
5
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Pennsylvania Investment Quality
|
|
|
5
|
|
|
|
5
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Pennsylvania Premium Income 2
|
|
|
5
|
|
|
|
5
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Texas Quality Income
|
|
|
5
|
|
|
|
9
|
|
|
|
0
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Virginia Dividend Advantage
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Virginia Dividend Advantage 2
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
Virginia Premium Income
|
|
|
5
|
|
|
|
5
|
|
|
|
1
|
|
|
|
4
|
|
|
|
5
|
|
|
|
4
|
|
|
|
4
|
|
|
|
|
|
C-3
Appendix D
NUVEEN
FUND BOARD
AUDIT COMMITTEE CHARTER
|
|
|
|
I.
|
Organization
and Membership
|
There shall be a committee of each Board of Directors/Trustees
(the “Board”) of the Nuveen Management Investment
Companies (the “Funds” or, individually, a
“Fund”) to be known as the Audit Committee. The Audit
Committee shall be comprised of at least three
Directors/Trustees. Audit Committee members shall be independent
of the Funds and free of any relationship that, in the opinion
of the Directors/Trustees, would interfere with their exercise
of independent judgment as an Audit Committee member. In
particular, each member must meet the independence and
experience requirements applicable to the Funds of the exchanges
on which shares of the Funds are listed, Section 10A of the
Securities Exchange Act of 1934 (the “Exchange Act”),
and the rules and regulations of the Securities and Exchange
Commission (the “Commission”). Each such member of the
Audit Committee shall have a basic understanding of finance and
accounting, be able to read and understand fundamental financial
statements, and be financially literate, and at least one such
member shall have accounting or related financial management
expertise, in each case as determined by the Directors/Trustees,
exercising their business judgment (this person may also serve
as the Audit Committee’s “financial expert” as
defined by the Commission). The Board shall appoint the members
and the Chairman of the Audit Committee, on the recommendation
of the Nominating and Governance Committee. The Audit Committee
shall meet periodically but in any event no less frequently than
on a semi-annual basis. Except for the Funds, Audit Committee
members shall not serve simultaneously on the audit committees
of more than two other public companies.
|
|
|
|
II.
|
Statement
of Policy, Purpose and Processes
|
The Audit Committee shall assist the Board in oversight and
monitoring of (1) the accounting and reporting policies,
processes and practices, and the audits of the financial
statements, of the Funds; (2) the quality and integrity of
the financial statements of the Funds; (3) the Funds’
compliance with legal and regulatory requirements, (4) the
independent auditors’ qualifications, performance and
independence; and (5) oversight of the Pricing Procedures
of the Funds and the Valuation Group. In exercising this
oversight, the Audit Committee can request other committees of
the Board to assume responsibility for some of the monitoring as
long as the other committees are composed exclusively of
independent directors.
In doing so, the Audit Committee shall seek to maintain free and
open means of communication among the Directors/Trustees, the
independent auditors, the internal auditors and the management
of the Funds. The Audit Committee shall meet periodically with
Fund management, the Funds’ internal auditor, and the
Funds’ independent auditors, in separate executive
sessions. The Audit Committee shall prepare reports of the Audit
Committee as required by the Commission to be included in the
Fund’s annual proxy statements or otherwise.
The Audit Committee shall have the authority and resources in
its discretion to retain special legal, accounting or other
consultants to advise the Audit Committee and to otherwise
discharge its responsibilities, including appropriate funding as
determined by the Audit Committee for compensation to
independent auditors engaged for the purpose of preparing
D-1
or issuing an audit report or performing other audit, review or
attest services for a Fund, compensation to advisers employed by
the Audit Committee, and ordinary administrative expenses of the
Audit Committee that are necessary or appropriate in carrying
out its duties, as determined in its discretion. The Audit
Committee may request any officer or employee of Nuveen
Investments, Inc. (or its affiliates) (collectively,
“Nuveen”) or the Funds’ independent auditors or
outside counsel to attend a meeting of the Audit Committee or to
meet with any members of, or consultants to, the Audit
Committee. The Funds’ independent auditors and internal
auditors shall have unrestricted accessibility at any time to
Committee members.
Responsibilities
Fund management has the primary responsibility to establish and
maintain systems for accounting, reporting, disclosure and
internal control.
The independent auditors have the primary responsibility to plan
and implement an audit, with proper consideration given to the
accounting, reporting and internal controls. Each independent
auditor engaged for the purpose of preparing or issuing an audit
report or performing other audit, review or attest services for
the Funds shall report directly to the Audit Committee. The
independent auditors are ultimately accountable to the Board and
the Audit Committee. It is the ultimate responsibility of the
Audit Committee to select, appoint, retain, evaluate, oversee
and replace any independent auditors and to determine their
compensation, subject to ratification of the Board, if required.
These Audit Committee responsibilities may not be delegated to
any other Committee or the Board.
The Audit Committee is responsible for the following:
With respect to
Fund financial statements:
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1.
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Reviewing and discussing the annual audited financial statements
and semi-annual financial statements with Fund management and
the independent auditors including major issues regarding
accounting and auditing principles and practices, and the
Funds’ disclosures in its periodic reports under
“Management’s Discussion and Analysis.”
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2.
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Requiring the independent auditors to deliver to the Chairman of
the Audit Committee a timely report on any issues relating to
the significant accounting policies, management judgments and
accounting estimates or other matters that would need to be
communicated under PCAOB AU 380, Communications with Audit
Committees., that arise during the auditors’ review of the
Funds’ financial statements, which information the Chairman
shall further communicate to the other members of the Audit
Committee, as deemed necessary or appropriate in the
Chairman’s judgment.
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3.
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Discussing with management the Funds’ press releases
regarding financial results and dividends, as well as financial
information and earnings guidance provided to analysts and
rating agencies. This discussion may be done generally,
consisting of discussing the types of information to be
disclosed and the types of presentations to be made. The
Chairman of the Audit Committee shall be authorized to have
these discussions with management on behalf of the Audit
Committee.
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4.
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Discussing with management and the independent auditors
(a) significant financial reporting issues and judgments
made in connection with the preparation and
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D-2
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presentation of the Funds’ financial statements, including
any significant changes in the Funds’ selection or
application of accounting principles and any major issues as to
the adequacy of the Funds’ internal controls and any
special audit steps adopted in light of material control
deficiencies; and (b) analyses prepared by Fund management
and/or
the
independent auditor setting forth significant financial
reporting issues and judgments made in connection with the
preparation of the financial statements, including analyses of
the effects of alternative GAAP methods on the financial
statements.
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5.
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Discussing with management and the independent auditors the
effect of regulatory and accounting initiatives on the
Funds’ financial statements.
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6.
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Reviewing and discussing reports, both written and oral, from
the independent auditors
and/or
Fund
management regarding (a) all critical accounting policies
and practices to be used; (b) all alternative treatments of
financial information within generally accepted accounting
principles that have been discussed with management,
ramifications of the use of such alternative treatments and
disclosures, and the treatment preferred by the independent
auditors; and (c) other material written communications
between the independent auditors and management, such as any
management letter or schedule of unadjusted differences.
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7.
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Discussing with Fund management the Funds’ major financial
risk exposures and the steps management has taken to monitor and
control these exposures, including the Funds’ risk
assessment and risk management policies and guidelines. In
fulfilling its obligations under this paragraph, the Audit
Committee may review in a general manner the processes other
Board committees have in place with respect to risk assessment
and risk management.
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8.
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Reviewing disclosures made to the Audit Committee by the
Funds’ principal executive officer and principal financial
officer during their certification process for the Funds’
periodic reports about any significant deficiencies in the
design or operation of internal controls or material weaknesses
therein and any fraud involving management or other employees
who have a significant role in the Funds’ internal
controls. In fulfilling its obligations under this paragraph,
the Audit Committee may review in a general manner the processes
other Board committees have in place with respect to
deficiencies in internal controls, material weaknesses, or any
fraud associated with internal controls.
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With respect to
the independent auditors:
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1.
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Selecting, appointing, retaining or replacing the independent
auditors, subject, if applicable, only to Board and shareholder
ratification; and compensating, evaluating and overseeing the
work of the independent auditor (including the resolution of
disagreements between Fund management and the independent
auditor regarding financial reporting).
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2.
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Meeting with the independent auditors and Fund management to
review the scope, fees, audit plans and staffing for the audit,
for the current year. At the conclusion of the audit, reviewing
such audit results, including the independent auditors’
evaluation of the Funds’ financial and internal controls,
any comments or recommendations of the independent auditors, any
audit problems or difficulties and
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D-3
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management’s response, including any restrictions on the
scope of the independent auditor’s activities or on access
to requested information, any significant disagreements with
management, any accounting adjustments noted or proposed by the
auditor but not made by the Fund, any communications between the
audit team and the audit firm’s national office regarding
auditing or accounting issues presented by the engagement, any
significant changes required from the originally planned audit
programs and any adjustments to the financial statements
recommended by the auditors.
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3.
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Pre-approving all audit services and permitted non-audit
services, and the terms thereof, to be performed for the Funds
by their independent auditors, subject to the de minimis
exceptions for non-audit services described in Section 10a
of the Exchange Act that the Audit Committee approves prior to
the completion of the audit, in accordance with any policies or
procedures relating thereto as adopted by the Board or the Audit
Committee. The Chairman of the Audit Committee shall be
authorized to give pre-approvals of such non-audit services on
behalf of the Audit Committee.
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4.
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Obtaining and reviewing a report or reports from the independent
auditors at least annually (including a formal written statement
delineating all relationships between the auditors and the Funds
consistent with PCAOB Ethics and Independence Rule 3526, as
may be amended, restated, modified or replaced) regarding
(a) the independent auditor’s internal quality-control
procedures; (b) any material issues raised by the most
recent internal quality-control review, or peer review, of the
firm, or by any inquiry or investigation by governmental or
professional authorities within the preceding five years,
respecting one or more independent audits carried out by the
firm; (c) any steps taken to deal with any such issues; and
(d) all relationships between the independent auditor and
the Funds and their affiliates, in order to assist the Audit
committee in assessing the auditor’s independence. After
reviewing the foregoing report[s] and the independent
auditor’s work throughout the year, the Audit Committee
shall be responsible for evaluating the qualifications,
performance and independence of the independent auditor and
their compliance with all applicable requirements for
independence and peer review, and a review and evaluation of the
lead partner, taking into account the opinions of Fund
management and the internal auditors, and discussing such
reports with the independent auditors. The Audit Committee shall
present its conclusions with respect to the independent auditor
to the Board.
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5.
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Reviewing any reports from the independent auditors mandated by
Section 10a(b) of the Exchange Act regarding any illegal
act detected by the independent auditor (whether or not
perceived to have a material effect on the Funds’ financial
statements) and obtaining from the independent auditors any
information about illegal acts in accordance with
Section 10a(b).
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6.
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Ensuring the rotation of the lead (or coordinating) audit
partner having primary responsibility for the audit and the
audit partner responsible for reviewing the audit as required by
law, and further considering the rotation of the independent
auditor firm itself.
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D-4
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7.
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Establishing and recommending to the Board for ratification
policies for the Funds’, Fund management or the Fund
adviser’s hiring of employees or former employees of the
independent auditor who participated in the audits of the Funds.
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8.
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Taking, or recommending that the Board take, appropriate action
to oversee the independence of the outside auditor.
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With respect to
any internal auditor:
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9.
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Reviewing the proposed programs of the internal auditor for the
coming year. It is not the obligation or responsibility of the
Audit Committee to confirm the independence of any Nuveen
internal auditors performing services relating to the Funds or
to approve any termination or replacement of the Nuveen Manager
of Internal Audit.
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10.
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Receiving a summary of findings from any completed internal
audits pertaining to the Funds and a progress report on the
proposed internal audit plan for the Funds, with explanations
for significant deviations from the original plan.
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With respect to
pricing and valuation oversight:
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11.
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The Board has responsibilities regarding the pricing of a
Fund’s securities under the 1940 Act. The Board has
delegated this responsibility to the Committee to address
valuation issues that arise between Board meetings, subject to
the Board’s general supervision of such actions. The
Committee is primarily responsible for the oversight of the
Pricing Procedures and actions taken by the internal Valuation
Group (“Valuation Matters”). The Valuation Group will
report on Valuation Matters to the Committee
and/or
the
Board of Directors/Trustees, as appropriate.
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12.
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Performing all duties assigned to it under the Funds’
Pricing Procedures, as such may be amended from time to time.
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13.
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Periodically reviewing and making recommendations regarding
modifications to the Pricing Procedures as well as consider
recommendations by the Valuation Group regarding the Pricing
Procedures.
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14.
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Reviewing any issues relating to the valuation of a Fund’s
securities brought to the Committee’s attention, including
suspensions in pricing, pricing irregularities, price overrides,
self-pricing, NAV errors and corrections thereto, and other
pricing matters. In this regard, the Committee should consider
the risks to the Funds in assessing the possible resolutions of
these Valuation Matters.
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15.
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Evaluating, as it deems necessary or appropriate, the
performance of any pricing agent and recommend changes thereto
to the full Board.
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16.
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Reviewing any reports or comments from examinations by
regulatory authorities relating to Valuation Matters of the
Funds and consider management’s responses to any such
comments and, to the extent the Committee deems necessary or
appropriate, propose to management
and/or
the
full Board the modification of the Fund’s policies and
procedures relating to such matters. The Committee, if deemed
necessary or desirable, may also meet with regulators.
|
D-5
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17.
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Meeting with members of management of the Funds, outside
counsel, or others in fulfilling its duties hereunder, including
assessing the continued appropriateness and adequacy of the
Pricing Procedures, eliciting any recommendations for
improvements of such procedures or other Valuation Matters, and
assessing the possible resolutions of issues regarding Valuation
Matters brought to its attention.
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18.
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Performing any special review, investigations or oversight
responsibilities relating to Valuation as requested by the Board
of Directors/Trustees.
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19.
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Investigating or initiating an investigation of reports of
improprieties or suspected improprieties in connection with the
Fund’s policies and procedures relating to Valuation
Matters not otherwise assigned to another Board committee.
|
Other
responsibilities:
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20.
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Reviewing with counsel to the Funds, counsel to Nuveen, the Fund
adviser’s counsel and independent counsel to the Board
legal matters that may have a material impact on the Fund’s
financial statements or compliance policies.
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21.
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Receiving and reviewing periodic or special reports issued on
exposure/controls, irregularities and control failures related
to the Funds.
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22.
|
Reviewing with the independent auditors, with any internal
auditor and with Fund management, the adequacy and effectiveness
of the accounting and financial controls of the Funds, and
eliciting any recommendations for the improvement of internal
control procedures or particular areas where new or more
detailed controls or procedures are desirable. Particular
emphasis should be given to the adequacy of such internal
controls to expose payments, transactions or procedures that
might be deemed illegal or otherwise improper.
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23.
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Reviewing the reports of examinations by regulatory authorities
as they relate to financial statement matters.
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24.
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Discussing with management and the independent auditor any
correspondence with regulators or governmental agencies that
raises material issues regarding the Funds’ financial
statements or accounting policies.
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25.
|
Obtaining reports from management with respect to the
Funds’ policies and procedures regarding compliance with
applicable laws and regulations.
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26.
|
Reporting regularly to the Board on the results of the
activities of the Audit Committee, including any issues that
arise with respect to the quality or integrity of the
Funds’ financial statements, the Funds’ compliance
with legal or regulatory requirements, the performance and
independence of the Funds’ independent auditors, or the
performance of the internal audit function.
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27.
|
Performing any special reviews, investigations or oversight
responsibilities requested by the Board.
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28.
|
Reviewing and reassessing annually the adequacy of this charter
and recommending to the Board approval of any proposed changes
deemed necessary or advisable by the Audit Committee.
|
D-6
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29.
|
Undertaking an annual review of the performance of the Audit
Committee.
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30.
|
Establishing procedures for the receipt, retention and treatment
of complaints received by the Funds regarding accounting,
internal accounting controls or auditing matters, and the
confidential, anonymous submission of concerns regarding
questionable accounting or auditing matters by employees of Fund
management, the investment adviser, administrator, principal
underwriter, or any other provider of accounting related
services for the Funds, as well as employees of the Funds.
|
Although the Audit Committee shall have the authority and
responsibilities set forth in this Charter, it is not the
responsibility of the Audit Committee to plan or conduct audits
or to determine that the Funds’ financial statements are
complete and accurate and are in accordance with generally
accepted accounting principles. That is the responsibility of
management and the independent auditors. Nor is it the duty of
the Audit Committee to conduct investigations, to resolve
disagreements, if any, between management and the independent
auditors or to ensure compliance with laws and regulations.
D-7
Nuveen
Investments
333 West
Wacker Drive
Chicago,
IL
60606-1286
(800) 257-8787
Nuveen Investments • 333 West Wacker Dr. • Chicago IL 60606
www.nuveen.com
999 999 999 999 99
Your Proxy Vote is important!
And now you can Vote your Proxy on the
PHONE
or
the
INTERNET
.
It saves Money! Telephone and Internet voting
saves postage costs. Savings which can help
minimize fund expenses.
It saves Time! Telephone and Internet voting
is instantaneous – 24 hours a day.
It’s Easy! Just follow these simple steps:
|
|
|
1. Read your Combined Prospectus/Proxy
Statement and have it at hand.
|
|
|
|
|
|
2. Call toll-free
1-866-241-6192 or go to
website: www.proxy-direct.com
|
|
|
|
3. Follow the recorded or on-screen directions.
|
|
|
|
4. Do
not
mail your Proxy Card when you vote
by phone or Internet.
|
|
|
|
|
FUND NAME PRINTS HERE
COMMON SHARES
|
|
THIS PROXY IS SOLICITED BY THE BOARD OF THE FUND
FOR AN ANNUAL MEETING OF SHAREHOLDERS, NOVEMBER 16, 2010
|
The Annual Meeting of shareholders will be held Tuesday, November 16, 2010 at 10:30 a.m.
Central time, in the 32
nd
Floor Conference Room on Nuveen Investments, 333 West Wacker
Drive, Chicago, Illinois, 60606. At this meeting, you will be asked to vote on the proposals
described in the proxy statement attached. The undersigned hereby appoints Kevin J. McCarthy and
Gilford R. Zimmerman, and each of them, with full power of substitution, proxies for the
undersigned, to represent and vote the shares of the undersigned at the Annual Meeting of
shareholders to be held on November 16, 2010, or any adjournment or adjournments thereof.
WHETHER OR NOT YOU PLAN TO JOIN US AT THE MEETING, PLEASE COMPLETE, DATE AND SIGN YOUR PROXY CARD
AND RETURN IT IN THE ENCLOSED ENVELOPE SO THAT YOUR VOTE WILL BE COUNTED. AS AN ALTERNATIVE,
PLEASE CONSIDER VOTING BY TELEPHONE AT (866)241-6192 OR OVER THE INTERNET
(
www.proxy-direct.com).
¯
Date:
SIGN HERE EXACTLY AS NAME(S) APPEAR(S) ON LEFT.
(Please sign in Box)
NOTE: PLEASE SIGN YOUR NAME EXACTLY AS IT APPEARS ON THIS PROXY. IF SHARES ARE HELD JOINTLY, EACH HOLDER MUST SIGN THE PROXY. IF YOU ARE SIGNING ON BEHALF OF AN ESTATE, TRUST OR CORPORATION, PLEASE STATE YOUR TITLE OR CAPACITY.
|
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¯
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¯
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NFZ-NCU-NXE-NAC-NVX-
NZH-NFC-NGK-NGO-NKG-
NFM-NZR-NWI-NMB-NZW-
NXJ-NUJ-NTC-NPG-NXI-
NBJ-NVJ-NXM-NVY-NMT-
NTX-NPV-NQP-NPY-NKL-
NKX-NGX-NZX-NII-NGB-
NNB-NMY-NNC
|
In their discretion, the proxies are authorized to vote upon such other business as may properly come before the Annual Meeting.
Properly executed proxies will be voted as specified. If no specification is made, such shares will be voted “FOR” each proposal.
|
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¯
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Please fill in box(es) as shown using black or blue ink or number 2 pencil.
x
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PLEASE DO NOT USE FINE POINT PENS.
|
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¯
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1c.
|
|
Election of Board Members:
Class I:
(01) Judith M. Stockdale
(02) Carole E. Stone
|
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FOR
NOMINEES
listed at left
(except as
marked to the
contrary)
|
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WITHHOLD
AUTHORITY
to vote for all
nominees
listed at left
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o
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(INSTRUCTION: To withhold authority to vote for any individual nominee(s), write the number(s) of the nominee(s) on the line provided above.)
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3.
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To transact such other
business as may properly
come before the Annual
Meeting.
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PLEASE SIGN ON REVERSE SIDE
Nuveen Investments • 333 West Wacker Dr. • Chicago IL 60606
www.nuveen.com
999 999 999 999 99
Your Proxy Vote is important!
And now you can Vote your Proxy on the
PHONE
or
the
INTERNET
.
It saves Money! Telephone and Internet voting
saves postage costs. Savings which can help
minimize fund expenses.
It saves Time! Telephone and Internet voting
is instantaneous – 24 hours a day.
It’s Easy! Just follow these simple steps:
|
|
|
1. Read your Combined Prospectus/Proxy
Statement and have it at hand.
|
|
|
|
|
|
2. Call toll-free
1-866-241-6192 or go to
website: www.proxy-direct.com
|
|
|
|
3. Follow the recorded or on-screen directions.
|
|
|
|
4. Do
not
mail your Proxy Card when you vote
by phone or Internet.
|
|
|
|
|
FUND NAME PRINTS HERE
PREFERRED SHARES
|
|
THIS PROXY IS SOLICITED BY THE BOARD OF THE FUND
FOR AN ANNUAL MEETING OF SHAREHOLDERS, NOVEMBER 16, 2010
|
The Annual Meeting of shareholders will be held Tuesday, November 16, 2010 at 10:30 a.m.
Central time, in the 32
nd
Floor Conference Room on Nuveen Investments, 333 West Wacker
Drive, Chicago, Illinois, 60606. At this meeting, you will be asked to vote on the proposals
described in the proxy statement attached. The undersigned hereby appoints Kevin J. McCarthy and
Gilford R. Zimmerman, and each of them, with full power of substitution, proxies for the
undersigned, to represent and vote the shares of the undersigned at the Annual Meeting of
shareholders to be held on November 16, 2010, or any adjournment or adjournments thereof.
WHETHER OR NOT YOU PLAN TO JOIN US AT THE MEETING, PLEASE COMPLETE, DATE AND SIGN YOUR PROXY CARD
AND RETURN IT IN THE ENCLOSED ENVELOPE SO THAT YOUR VOTE WILL BE COUNTED. AS AN ALTERNATIVE,
PLEASE CONSIDER VOTING BY TELEPHONE AT (866)241-6192 OR OVER THE INTERNET
(
www.proxy-direct.com).
¯
Date:
SIGN HERE EXACTLY AS NAME(S) APPEAR(S) ON LEFT.
(Please sign in Box)
NOTE: PLEASE SIGN YOUR NAME EXACTLY AS IT APPEARS ON THIS PROXY. IF SHARES ARE HELD JOINTLY, EACH HOLDER MUST SIGN THE PROXY. IF YOU ARE SIGNING ON BEHALF OF AN ESTATE, TRUST OR CORPORATION, PLEASE STATE YOUR TITLE OR CAPACITY.
|
|
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|
¯
|
|
¯
|
|
NFZ-NCU-NXE-NAC-NVX-
NZH-NFC-NGK-NGO-NKG-
NFM-NZR-NWI-NMB-NZW-
NXJ-NUJ-NTC-NPG-NXI-
NBJ-NVJ-NXM-NVY-NMT-
NTX-NPV-NQP-NPY-NKL-
NKX-NGX-NZX-NII-NGB-
NNB-NMY-NNC
|
In their discretion, the proxies are authorized to vote upon such other business as may properly come before the Annual Meeting.
Properly executed proxies will be voted as specified. If no specification is made, such shares will be voted “FOR” each proposal.
|
|
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|
|
|
|
¯
|
|
Please fill in box(es) as shown using black or blue ink or number 2 pencil.
x
|
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|
|
PLEASE DO NOT USE FINE POINT PENS.
|
|
¯
|
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|
|
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1c.
|
|
Election of Board Members:
Class I:
(01) Judith M. Stockdale
(02) Carole E. Stone
|
|
Preferred Shares Only
:
(03) William C. Hunter
(04) William J. Schneider
|
|
FOR
NOMINEES
listed at left
(except as
marked to the
contrary)
|
|
WITHHOLD
AUTHORITY
to vote for all
nominees
listed at left
|
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o
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o
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(INSTRUCTION: To withhold authority to vote for any individual nominee(s), write the number(s) of the nominee(s) on the line provided above.)
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3.
|
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To transact such other
business as may properly
come before the Annual
Meeting.
|
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PLEASE SIGN ON REVERSE SIDE
Nuveen Insured California Dividend Advantage Municipal Fund Common Shares of Beneifical Interest (AMEX:NKL)
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