CHICAGO--(BUSINESS WIRE)--
The Board of Trustees of Nuveen Municipal High Income Opportunity Fund (NYSE: NMZ) approved updated fund investment policies. The changes are intended to update and conform fund investment policies with other comparable investment mandates across the complex. The fund changes are not expected to have a material impact on the fund’s investment strategy, portfolio positioning or day-to-day operations.
Effective immediately, the fund may, under its updated investment policies, invest up to 75 percent of its portfolio in municipal securities rated BBB and below. No more than 10 percent of the fund's managed assets may be invested in municipal securities rated at or below B3/B-. However, agreements related to the fund’s outstanding preferred shares currently have covenants that mirror the fund’s prior investment policies. The fund will continue to comply with these covenants until they are updated, which is expected to be in the near future.
About Nuveen
Nuveen offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. As the investment management arm of TIAA, Nuveen has $929 billion in assets under management as of 6/30/17 and operations in 16 countries. Its affiliates offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.
The information contained on the Nuveen website is not a part of this press release.
Nuveen Securities, LLC, member FINRA and SIPC.
264921-INV-O-09/19
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