Morningstar, Inc. Commentaries
Mar 18, 2014
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The past week saw significant activity in the closed-end fund world. Many funds remain busy on the issuing and repurchasing front, while Templeton is looking to expand its investment options in China.
Nuveen Dividend Advantage (NZF) and Nuveen NY AMT-Free Muni (NRK) both announced the filing of notice for the redemption of all their outstanding Variable Rate MuniFund Term Preferred and MuniFund Term Preferred shares. The funds expect to finance the redemptions with proceeds of newly issued preferred shares. The anticipated redemption date is April 11, 2014.