Investment Strategy
| The Fund is designed to provide as high a level of current income exempt from regular federal income taxes as is consistent with preservation of capital.* The Fund purchases only quality municipal bonds that are rated investment grade at the time of purchase by at least one independent rating agency. The Fund's investment adviser looks for higher yielding and undervalued long-term municipal bonds that offer potentially above average total return. |
Who should invest
Investors Seeking to:
| - Earn regular monthly dividends
- Keep more of what they earn
- Preserve investment capital over time
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Fund Basics: Shares
Select Share Class:
A | B† | C | I†
| Fund Symbol | FLAAX |
| Fund Cusip | 67065Q889 |
| Inception Date | 10/03/1988 |
| Latest NAV as of 11/20/2009 | $10.40 |
| Latest Monthly Dividend (11/27/2009) | $0.0445 |
| Fund Symbol | FAAMX |
| Fund Cusip | 67065Q871 |
| Inception Date | 2/05/1997 |
| Latest NAV as of 11/20/2009 | $10.44 |
| Latest Monthly Dividend (11/27/2009) | $0.0385 |
| Fund Symbol | FAACX |
| Fund Cusip | 67065Q863 |
| Inception Date | 6/02/1993 |
| Latest NAV as of 11/20/2009 | $10.41 |
| Latest Monthly Dividend (11/27/2009) | $0.0400 |
| Fund Symbol | |
| Fund Cusip | |
| Inception Date | |
| Latest NAV as of | |
| Fund Symbol | FAARX |
| Fund Cusip | 67065Q855 |
| Inception Date | 2/06/1997 |
| Latest NAV as of 11/20/2009 | $10.45 |
| Latest Monthly Dividend (11/27/2009) | $0.0465 |
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A Word On Risk
| Investing in municipal bonds involves interest rate risk, the risk that interest rates will rise, causing bond prices to fall; and credit risk, the risk that an issuer of a municipal bond will be unable to make interest and principal payments. As with any mutual fund, loss of principal is a risk of investing. |
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Portfolio Manager
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 | Johnathan N. Wilhelm - Mr. Wilhelm has been with Nuveen Investments for seven years and has seventeen years of industry experience. He is currently a co-portfolio manager of Nuveen's high yield open- and closed-end municipal bond funds. Prior to joining Nuveen Asset Management, Mr. Wilhelm was a Senior Credit Analyst in the Van Kampen Senior Loan Group. As a Senior Analyst, he was responsible for the oversight of a team of analysts with coverage of 180 companies with a total exposure of approximately $6 billion. Before joining the senior loan group at Van Kampen, he was a Senior Fixed-Income Analyst for the Van Kampen mutual funds and unit investment trusts where he specialized in the healthcare, electric utility, chemicals and paper and forest product sectors. He received his BS in Business from Miami University of Ohio and his JD from DePaul University. | |
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†
Effective May 1, 2008 Class B shares are only issued upon exchange of Class B shares
from another Nuveen Fund or for purposes of dividend reinvestment.
Effective December 31, 2008 the reinstatement privilege for Class B shares
will no longer be available. Effective May 1, 2008, Class R shares were
renamed Class I shares. See the Fund's prospectus for more information.
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| *Income is generally exempt from regular federal income taxes. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax. |
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