Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 5, 2016

 

 

Nuveen New York Dividend Advantage Municipal Fund

(Exact name of registrant as specified in its charter)

 

 

 

Massachusetts   811-09135   36-4270661

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

333 West Wacker Drive

Chicago, Illinois

  60606
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (800) 257-8787

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 20e-4(c) under the Exchange Act (17 CFR 240.20e-4(c))

 

 

 


Item 8.01. Other Events.

Investment Policy Revision

Effective August 5, 2016, a number of Nuveen AMT-Free and non-AMT municipal closed-end funds have approved changes to their investment policies altering the limits on exposure to securities subject to the federal alternative minimum tax applicable to individuals (AMT).

AMT FREE MUNICIPAL FUNDS

The two AMT-Free funds listed below adopted a new investment policy to require the funds to invest 100% of its managed assets in securities the income from which is exempt from AMT at the time of purchase. While the funds were previously being managed as such, the new AMT policy will be in addition to the current policy which requires that only 80% of the funds’ assets be invested in securities exempt from the AMT. The 80% policy was adopted to meet the “Names Rule” under the Investment Company Act of 1940 and is subject to change by the board upon 60 days’ notice to shareholders. The new 100% AMT policy is subject to change by the fund’s board without shareholder notice. The new AMT policy is consistent with Nuveen’s other AMT-Free funds. The new policy was adopted for the following funds:

 

Ticker

  

Nuveen Fund Name

    

NRK

  

Nuveen New York AMT-Free Municipal Income Fund

  

NKX

  

Nuveen California AMT-Free Municipal Income Fund

  

MUNICIPAL FUNDS THAT ARE NOT AMT-FREE

All of the Nuveen municipal closed-end funds listed below have adopted an investment policy to limit the amount securities subject to AMT to no more than 20% of a fund’s managed assets. As set forth below the vast majority of these funds previously did not have a limit on AMT securities while six funds had a 30% limit on AMT securities. The new AMT investment policy will replace each fund’s old investment policy. Together with a number of other Nuveen funds, these changes will create a uniform 20% limit on AMT securities across Nuveen’s municipal complex. The following is a list of the funds adopting the new 20% limit and each fund’s previous investment policy with respect to AMT securities.

 

Ticker

 

Nuveen Fund Name

 

Prior AMT

Exposure Limit

 

New AMT Policy

Limit

NAZ

 

Nuveen Arizona Premium Income Municipal Fund

  30%   20%

NEV

 

Nuveen Enhanced Municipal Value Fund

  30%   20%

NHA

 

Nuveen Municipal 2021 Target Term Fund

  30%   20%

NID

 

Nuveen Intermediate Duration Municipal Term Fund

  30%   20%

NIQ

 

Nuveen Intermediate Duration Quality Municipal Term Fund

  30%   20%

NMZ

 

Nuveen Municipal High Income Opportunity Fund

  30%   20%

NAC

 

Nuveen California Dividend Advantage Municipal Fund

  No Limit   20%

NAD

 

Nuveen Dividend Advantage Municipal Fund

  No Limit   20%

NAN

 

Nuveen New York Dividend Advantage Municipal Fund

  No Limit   20%

NCA

 

Nuveen California Municipal Value Fund, Inc.

  No Limit   20%

NIM

 

Nuveen Select Maturities Municipal Fund

  No Limit   20%

NKG

 

Nuveen Georgia Dividend Advantage Municipal Fund 2

  No Limit   20%

NMI

 

Nuveen Municipal Income Fund, Inc.

  No Limit   20%

NMS

 

Nuveen Minnesota Municipal Income Fund

  No Limit   20%

NMT

 

Nuveen Massachusetts Premium Income Municipal Fund

  No Limit   20%

NMY

 

Nuveen Maryland Premium Income Municipal Fund

  No Limit   20%

NNC

 

Nuveen North Carolina Premium Income Municipal Fund

  No Limit   20%

NNY

 

Nuveen New York Municipal Value Fund, Inc.

  No Limit   20%

NOM

 

Nuveen Missouri Premium Income Municipal Fund

  No Limit   20%

NPV

 

Nuveen Virginia Premium Income Municipal Fund

  No Limit   20%

NQP

 

Nuveen Pennsylvania Investment Quality Municipal Fund

  No Limit   20%

NTC

 

Nuveen Connecticut Premium Income Municipal Fund

  No Limit   20%

NTX

 

Nuveen Texas Quality Income Municipal Fund

  No Limit   20%

NUM

 

Nuveen Michigan Quality Income Municipal Fund

  No Limit   20%

NUO

 

Nuveen Ohio Quality Income Municipal Fund

  No Limit   20%

NUV

 

Nuveen Municipal Value Fund, Inc.

  No Limit   20%

NVX

 

Nuveen California Dividend Advantage Municipal Fund 2

  No Limit   20%

NXJ

 

Nuveen New Jersey Dividend Advantage Municipal Fund

  No Limit   20%

NZF

 

Nuveen Enhanced Municipal Credit Opportunities Fund

  No Limit   20%

NZH

 

Nuveen California Dividend Advantage Municipal Fund 3

  No Limit   20%


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    NUVEEN NEW YORK DIVIDEND ADVANTAGE MUNICIPAL FUND
Date: August 5, 2016     By:  

/s/ Kevin J. McCarthy

      Kevin J. McCarthy
      Vice President and Secretary