Nuveen California shareholders to vote on reorganization of two funds

By Toni Weeks

San Diego, Feb. 23 - Shareholders of Nuveen California Tax Free Fund and Nuveen California Municipal Bond Fund 2 will attend a joint meeting to vote on the reorganization of the funds into Nuveen California Municipal Bond Fund.

The meeting is scheduled for March 30 at 3 p.m. ET.

According to a 497 filing with the Securities and Exchange Commission, the boards of directors/trustees and Chicago-based Nuveen Fund Advisors, Inc., the investment adviser to the funds, said that shareholders will benefit from operational efficiencies and economies of scale and the resultant lower total operating expenses that are expected from the reorganization.

The reorganizations will be voted on separately, such that the outcome of one vote will not affect the outcome of the other vote.

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