The Boards of Trustees of Nuveen California Select Tax-Free Income Portfolio (NYSE: NXC), Nuveen New York Select Tax-Free Income Portfolio (NYSE: NXN), and Nuveen Select Tax-Free Income Portfolio (NYSE: NXP) have approved a proposal to reorganize the funds. The proposed reorganizations, if approved by shareholders, would combine NXC and NXN into NXP. The reorganizations are intended to create a larger fund with lower net operating expenses and increased trading volume on the exchange for common shares.
The proposed reorganizations for the funds are subject to certain conditions, including necessary approval by the funds’ shareholders. NXC, NXN, and NXP will each hold their respective 2025 Annual Meetings of Shareholders to consider approval of the reorganization proposal and to elect Board Members on November 14, 2025. Detailed information on the proposed reorganizations and the candidates for election to each funds’ Board will be contained in proxy materials expected to be filed in the coming weeks.
To be considered for presentation at the 2025 Annual Meeting of Shareholders for NXC, NXN, or NXP, shareholder proposals submitted pursuant to Rule 14a-8 under the Securities Exchange Act of 1934 must be received at the offices of that fund, 333 West Wacker Drive, Chicago, Illinois 60606, no later than July 2, 2025. A shareholder wishing to provide notice in the manner prescribed by Rule 14a-4(c)(1) of a proposal submitted outside of the process of Rule 14a-8 for the funds’ respective 2025 Annual Meetings of Shareholders must, pursuant to the funds’ by-laws, submit such written notice to the fund no earlier than July 17, 2025 and no later than August 16, 2025. Timely submission of a proposal does not mean that such proposal will be included in a proxy statement.
Nuveen is a leading sponsor of closed-end funds (CEFs) with $53 billion in assets under management across 45 CEFs as of 31 Mar 2025. The funds offer exposure to a broad range of asset classes and are designed for income-focused investors seeking regular distributions. Nuveen has more than 35 years of experience managing CEFs.
