Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that the Board of Directors of Nuveen Investment Quality Municipal Fund, Inc. (NQM) approved a merger with American Municipal Income Portfolio, Inc. (XAA), a closed-end fund managed by US Bancorp Asset Management, Inc. and sub-advised by Nuveen Fund Advisors, LLC and Nuveen Asset Management, LLC. The merger is intended to create a larger fund with lower operating expenses and increased secondary market appeal through greater outstanding float for its common shares.

Completion of the proposed merger is subject to a number of conditions, including approval by the shareholders of each fund in the third quarter 2014. More information on the proposed merger will be contained in the proxy materials expected to be filed in the coming weeks. The proposed fund merger is as follows:

Acquired Fund   Symbol   Acquiring Fund   Symbol
American Municipal Income Portfolio, Inc.   XAA  

 

Nuveen Investment Quality
Municipal Fund, Inc.

 

NQM

More information on NQM is available on Nuveen’s web site at www.nuveen.com/cef. More information on XAA is available at www.firstamericanfunds.com.

Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutional and individual investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates—Nuveen Asset Management, LLC, Symphony Asset Management LLC, NWQ Investment Management Company, LLC, Santa Barbara Asset Management, LLC, Tradewinds Global Investors, LLC, Winslow Capital Management, LLC and Gresham Investment Management LLC, all of which are registered investment advisers and subsidiaries of Nuveen Investments, Inc. Funds distributed by Nuveen Securities, LLC., a subsidiary of Nuveen Investments, Inc. In total, Nuveen Investments managed approximately $221 billion as of December 31, 2013. For more information, please visit the Nuveen Investments website at www.nuveen.com.

FORWARD LOOKING STATEMENTS

Certain statements made in this release are forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to:

  • market developments;
  • legal and regulatory developments; and
  • other additional risks and uncertainties.

Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statements. The Annual and Semi-Annual Reports and other regulatory filings of the Nuveen closed-end funds with the Securities and Exchange Commission ("SEC") are accessible on the SEC's web site at www.sec.gov and on Nuveen's web site at www.nuveen.com and may discuss the above-mentioned or other factors that affect the Nuveen closed-end funds. The information contained on our web site is not a part of this press release.

Nothing contained in this press release shall constitute an offer for sale of any securities. A joint Proxy

Statement/Prospectus relating to each proposed reorganization will be filed with the SEC in the coming weeks and will contain important information relating the reorganization. Shareholders are urged to read each such joint Proxy Statement/Prospectus carefully. After they are filed, free copies of the Proxy Statement/Prospectuses will be available on the SEC's web site at www.sec.gov.