Nuveen Short Duration Hi Yld Muni Bd A (Nuveen Short Duration High Yiel) fond

Under normal market conditions, the fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes in municipal bonds that pay interest that is exempt from regular federal personal income tax. Under normal market conditions, it will generally maintain an investment portfolio with a weighted average effective duration of less than 4.5 years.