Floating rate bank loan mutual funds were the low volatility, high-yield, fixed-income fund choice of investors in the mid to late '90s. But since the turn of the century, many of these funds have been searching for a life preserver.

Nuveen Investments of Chicago intends to pull the plug on its $62.6 million floating rate, continuously offered interval fund that launched in October of 1999. The fund will liquidate its assets and close as of May 28, according to a filing with the Securities and Exchange Commission.

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