Fund Description: Nuveen Municipal Value Fund is a diversified, closed-end management investment company. The Fund's primary objective is current income exempt from federal income taxes and its secondary objective is the enhancement of portfolio value through selection of tax-exempt bonds and municipal market sectors. The Fund will invest primarily in a diversified portfolio of tax-exempt municipal obligations rated within the four highest categories. The Fund may invest up to 20% of its net assets in unrated Municipal Obligations considered to be of comparable quality. The Fund may attempt to hedge all or a portion of its investment portfolio against market risk by engaging in transactions of financial futures or options. The Fund's investment advisor is Nuveen Advisory Corp.