Morningstar, Inc. Commentaries
May 13, 2014
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Muni Fund Mergers
Nuveen continued to clean up their fund lineup last week, announcing that shareholders of several state-oriented municipal closed-end funds approved a series of mergers. Nuveen California AMT-Free Municipal Income (NKX) plans to acquire Nuveen California Premium Income Municipal (NCU), which would increase its net assets to $714 million from $625 million.