Nuveen Arizona Dividend Advantage Municipal Fund 3

As of April 8, 2013 Nuveen Arizona Dividend Advantage Municipal Fund 3 has been acquired by Nuveen Arizona Premium Income Municipal Fund. Nuveen Arizona Dividend Advantage Municipal Fund 3 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 Arizona. The fund invests in undervalued municipal securities and other related investments the income, exempt from regular federal and Arizona income taxes that are rated Baa or BBB or better and having an average maturity of 16.77 years. It employs fundamental analysis with bottom-up stock picking approach to create its portfolio. The fund benchmarks the performance of its portfolio against the Standard & Poor’s (S&P) Arizona Municipal Bond Index and Standard & Poor’s (S&P) National Municipal Bond Index. Nuveen Arizona Dividend Advantage Municipal Fund 3 was formed on October 26, 2001 and is domiciled in the United States.