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As of April 8, 2016, Nuveen Quality Municipal Fund, Inc. has been acquired by Nuveen Enhanced AMT-Free Municipal Credit Opportunities Fund. Nuveen Quality Municipal Fund, Inc. is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc. The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund primarily invests in undervalued municipal securities and other related investments which are covered by insurance from insurers with a claims-paying ability, are exempt from regular federal income taxes, and are rated at least Baa/BBB or better by S&P, Moody’s, or Fitch. It seeks to maintain an average portfolio maturity of approximately 18 years. The fund employs fundamental analysis with a bottom-up security picking approach to create its portfolio. It benchmarks the performance of its portfolio against the S&P Insured Municipal Bond Index. The fund was formerly known as Nuveen Insured Quality Municipal Fund, Inc. Nuveen Quality Municipal Fund, Inc. was formed on December 19, 1990 and is domiciled in the United States.
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