Key information

🔎 Fund Overview

Nuveen Intermediate Duration Municipal Term Fund (the Fund) is a diversified, closed-end management investment company. The Fund's primary investment objective is to provide a high level of current income exempt from regular federal income tax. The Fund's secondary investment objective is to seek additional total return. The Fund invests in municipal securities that are exempt from federal income taxes, and seeks to maintain a portfolio with an intermediate effective duration of between three and 10 years, including the effects of leverage. The Fund invests at least 50% of its managed assets in municipal securities rated investment grade at the time of investment, or, if they are unrated, are judged by the manager to be of comparable quality. The Fund invests up to 50% of its managed assets in municipal securities rated below investment quality. It invests in various sectors, including transportation, health care, and utilities. Its investment adviser is Nuveen Fund Advisors, LLC.