SEC Form N-CSR filed by Nuveen Municipal Income Fund Inc.
$NMI
Trusts Except Educational Religious and Charitable
Finance
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Deep Bench Ensures Continuity of Long-Standing Team-Based Approach to Investing NEW YORK, Oct. 13, 2023 /PRNewswire/ -- Aligned with the firm's proud heritage and culture of taking a team-based approach to investing, Nuveen, the investment manager of TIAA, is formalizing a co-portfolio manager structure across its municipal platform, naming additional managers to 27 mutual funds and 24 closed-ends funds. These strategies account for $52 billion out of the firm's $188 billion1 municipal assets under management. The key tenets of the team's proven investment and research processes remain unchanged.
The Board of Trustees of Nuveen Municipal Income Fund, Inc. (NYSE:NMI) has approved certain investment policy changes for the fund. The fund's investment objective to provide a high level of current income exempt from federal income tax remains unchanged. The policy changes grant the fund more flexibility to invest in lower rated municipal securities. The table below summarizes the changes, which are effective immediately. Description of Investment Policy Changes Current Policy New Policy The Fund will invest at least 80% of its Managed Assets in investment grade quality municipal securities that, at the time of investment, are rated within the four highest grades (Baa
Regular Monthly Tax-Exempt and Taxable Fund Distributions Eight Funds Declare Monthly Level Distributions Three Funds Declare Monthly Managed Distributions Seven Funds Declare Quarterly Managed Distributions As previously announced, the Board of Trustees of Nuveen Intermediate Duration Municipal Term Fund (NYSE:NID) has approved the liquidation of the fund upon the fund's originally scheduled termination date. NID intends to liquidate on or before March 31, 2023. The fund will not declare its regular monthly income distribution in March 2023 and expects to include any remaining undistributed net investment income with the fund's final liquidating distribution. The fund anticipates