Fund Description: Nuveen New York Select Tax-Free Income Portfolio is a closed-end, diversified management investment company. The Fund's primary objective is to provide stable dividends exempt from regular Federal income tax, as well as New York State and New York City personal income tax, consistent with the preservation of capital. The Fund will invest substantially all of its assets in a diversified portfolio of long-term New York Municipal Obligations which are either insured as to the timely payment of principal and interest thereon or backed by an escrow or trust account containing sufficient U.S. Government of U.S Government agency securities to ensure timely payment of principal and interest. Municipal Obligations backed by an escrow or trust account will not constitute more than 20% of the Trust's assets. The Fund may invest up to 20% of its net assets in Municipal Obligations that pay interest subject to the Federal alternative minimum tax. The Fund's investment advisor is Nuveen Advisory Corp.