NMT - Nuveen Massachusetts Premium Income Municipal Fund

Nuveen Massachusetts Premium Income Municipal Fund (NYSE: NMT)

OVERVIEW

FUND DATA

DISTRIBUTIONS

PRICING

PERFORMANCE

HOLDINGS & DETAIL

MANAGEMENT

LITERATURE

MTP

Shareholder Fund Report | Printable Fact Sheet | Glossary

OBJECTIVE

The fund seeks current income exempt from regular federal income taxes and Massachusetts personal income taxes. The secondary objective is the enhancement of portfolio value.

INVESTMENT STRATEGY

The fund invests substantially all of its assets in tax-exempt Massachusetts municipal obligations rated at the time of purchase within the four highest grades (Baa/BBB or better). The fund may invest up to 20% of its net assets in unrated Massachusetts municipal obligations considered to be of comparable quality. The fund may employ hedging strategies. The fund uses leverage.

HIGHLIGHTS

Attractive monthly tax-free income
Portfolio diversification
Attractive after tax total returns

DAILY PRICING

Closing Share Price (As of 9/8/2010)	$15.10
Closing NAV per Share (As of 9/8/2010)	$14.96
Premium / Discount	0.93%
Current Distribution Rate (Market price)††	5.17%
Distribution Amount (Monthly)	$0.0650

PORTFOLIO MANAGEMENT

NAM - Municipal Income

ASSET ALLOCATION As of 07/30/2010

Total may not add up to 100% due to rounding.

Income may be subject to state and local income taxes and the alternative minimum tax. Capital gains, if any, will be subject to capital gains tax.

Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Past performance is no guarantee of future results.

Fund data is updated daily, monthly, and quarterly, depending on the specific data point. Click HERE for the update schedule.

Frequency	Data included
Daily all funds:	Market price, NAV, premium/discount, annualized distribution rates on market price and NAV
Monthly all funds:	Assets, leverage, expenses, total return performance, distribution amounts, earnings & UNII
Monthly certain funds:	Municipal bond fund holdings and portfolio information, tax characteristic estimates for JFP
Monthly certain funds, with 1-month lag:	Taxable fund holdings and portfolio information except JCE, NSL, JFR and JRO; and % AMT for municipal bond funds
Quarterly certain funds:	JCE, NSL, JFR, and JRO holdings and portfolio information, tax characteristic estimates for distributions from funds paying quarterly distributions
Quarterly all funds:	SEC filings (annual shareholder report, semi-annual shareholder report, or 10-Q filing)

RISKS

Investment and Market RiskAn investment in the fund's common shares is subject to investment risk, including the possible loss of the entire principal amount that you invest. Your investment in common shares represents an indirect investment in the securities owned by the fund, most of which are traded on a national securities exchange or in the over-the-counter markets. The value of these securities, like other market investments, may move up or down, sometimes rapidly and unpredictably. Your common shares at any point in time may be worth less than your original investment, even after considering the reinvestment of fund dividends and distributions. Closed-end funds also carry price risk, or the risk that shares may trade at prices different from their net asset values.Call Risk or Prepayment RiskDuring periods of declining interest rates or for other purposes, issuers may exercise their option to prepay principal earlier than scheduled, forcing the fund to reinvest in lower-yielding securities. This is known as call or prepayment risk. Credit riskThe risk that a security in the fund's portfolio will decline in price, or fail to make dividend or interest payments when due, because the security's issuer defaults or experiences a decline in its financial status. Securities falling lower in a company's capital structure and/or unrated securities and securities with lower credit ratings are expected to have higher credit risk. See subordination.Interest Rate RiskInterest rate risk is the risk that fixed-income securities such as bonds, preferred, convertible and other debt securities will decline in value because of changes in market interest rates. When market interest rates rise, the market value of such securities generally will fall. Consequently, the net asset value and market price of common shares will tend to decline if market interest rates rise.

NOTES

†† Distribution rates represent the latest declared regular distribution, annualized, relative to the most recent daily market price and NAV. Special distributions, including special capital gains distributions, are not included in the calculation.