Nuveen Municipal Value Fund adds 80% income-focused bond policy

Nuveen Municipal Value Fund, Inc. (NYSE: NUV) filed a current report on Form 8-K with the U.S. Securities and Exchange Commission on October 8, 2026, announcing a change to its investment policies effective October 30, 2026. The fund, which is incorporated in Minnesota and maintains its principal executive offices in Chicago, Illinois, is supplementing the information provided in its Annual Report on Form N-CSR, filed on January 7, 2026, to include a new investment policy adopted pursuant to Rule 35d-1 under the Investment Company Act of 1940.

The new policy mandates that the fund allocate at least 80% of its assets to municipal bonds selected for their ability to generate income and support portfolio value. This addition supplements the existing investment policies previously disclosed in the "Shareholder Update" section of the fund's annual report. The filing indicates that the board of trustees may change these newly adopted policies without a shareholder vote, subject to specific regulatory conditions.

The report clarifies the procedural requirements for altering the investment policies. In accordance with Rule 35d-1, the policy regarding the allocation of at least 80% of assets to income-generating municipal bonds may not be changed without 60 days' prior written notice to shareholders. However, distinct protections apply to the fund's policy of investing at least 80% of its assets in municipal securities whose income is exempt from regular federal income taxes. Changes to this specific tax-exempt investment policy require the approval of holders of a majority of the outstanding common stock and preferred shares voting together as a single class, as well as the approval of holders of a majority of the outstanding preferred shares voting separately as a single class.

The filing defines a "majority of the outstanding" shares as either 67% or more of the shares present at a meeting if holders of more than 50% of the shares are present or represented by proxy, or more than 50% of the shares, whichever is less. The document was signed on behalf of the registrant by Mark L. Winget, Vice President and Secretary, on October 8, 2026. The fund is registered under Section 12(b) of the Securities Exchange Act of 1934, with its common stock trading under the symbol NUV on the New York Stock Exchange.