Fund Description: Nuveen Select Maturities Municipal Fund is a diversified, closed-end management investment company. The Fund's primary investment objective is current income exempt from regular Federal income tax, consistent with the preservation of capital. Its secondary objective is the enhancement of portfolio value relative to the municipal bond market through investments in tax-exempt Municipal Obligations. The Fund intends to invest all of its assets in a diversified, portfolio of investment-grade Municipal Obligations having an initial average effective maturity of approximately ten years. Municipal Obligations purchased by the Fund will be rated within the four highest grades, though up to 20% of the Fund's net assets may be invested in unrated Municipal Obligations deemed to be of comparable quality. The Fund's investment advisor is Nuveen Advisory Corp.