Investment Company Act file number 811-21213
Nuveen Insured Tax-Free Advantage Municipal Fund
(Exact name of registrant as specified in charter)
333 West Wacker Drive, Chicago, Illinois 60606
(Address of principal executive offices) (Zip code)
Jessica R. Droeger—Vice President and Secretary
333 West Wacker Drive, Chicago, Illinois 60606
(Name and address of agent for service)
Registrant's telephone number, including area code: 312-917-7700
Date of fiscal year end: 10/31
Date of reporting period: 01/31/05
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Schedule of Investments
Portfolio of Investments (Unaudited)
Nuveen Insured Tax-Free Advantage Municipal Fund (NEA)
January 31, 2005
| Principal |
Optional Call |
Market |
||||
|---|---|---|---|---|---|---|
| Amount (000) |
Description(1) |
Provisions* |
Ratings** |
Value |
||
Alabama - 8.3% (5.5% of Total Investments) |
||||||
|
||||||
| $ | 5,655 |
Colbert County-Northwest Health Care Authority, Alabama, Revenue Bonds, Helen Keller Hospital, |
6/13 at 101.00 |
Baa3 |
$ 5,786,875 |
|
Series 2003, 5.750%, 6/01/27 |
||||||
3,100 |
Huntsville Healthcare Authority, Alabama, Revenue Bonds, Series 1998A, 5.400%, 6/01/22 - MBIA |
5/12 at 102.00 |
AAA |
3,423,206 |
||
Insured |
||||||
6,280 |
Jefferson County, Alabama, Sewer Revenue Capital Improvement Warrants, Series 2002D, 5.000%, |
8/12 at 100.00 |
AAA |
6,992,152 |
||
2/01/32 (Pre-refunded to 8/01/12) - FGIC Insured |
||||||
1,750 |
Montgomery, Alabama, General Obligation Warrants, Series 2003, 5.000%, 5/01/21 - AMBAC Insured |
5/12 at 101.00 |
AAA |
1,890,123 |
||
4,500 |
Sheffield, Alabama, Electric Revenue Bonds, Series 2003, 5.500%, 7/01/29 - AMBAC Insured |
7/13 at 100.00 |
Aaa |
5,025,825 |
||
Arizona - 3.8% (2.5% of Total Investments) |
||||||
|
||||||
10,000 |
Maricopa County Pollution Control Corporation, Arizona, Revenue Bonds, Arizona Public Service |
11/12 at 100.00 |
AAA |
10,490,600 |
||
Company - Palo Verde Project, Series 2002A, 5.050%, 5/01/29 - AMBAC Insured |
||||||
California - 28.8% (19.0% of Total Investments) |
||||||
|
||||||
13,500 |
California, General Obligation Refunding Bonds, Series 2002, 5.250%, 4/01/30 - XLCA Insured |
4/12 at 100.00 |
AAA |
14,372,910 |
||
7,500 |
California, General Obligation Bonds, Series 2004, 5.000%, 4/01/31 - AMBAC Insured |
4/14 at 100.00 |
AAA |
7,838,850 |
||
26,300 |
California State Public Works Board, Lease Revenue Bonds, Department of General Services, Capital |
12/12 at 100.00 |
AAA |
27,502,962 |
||
East End Project, Series 2002A, 5.000%, 12/01/27 - AMBAC Insured (PLG) |
||||||
2,910 |
Cathedral City Public Financing Authority, California, Tax Allocation Bonds, Housing Set-Aside, |
8/12 at 102.00 |
AAA |
3,077,965 |
||
Series 2002D, 5.000%, 8/01/26 - MBIA Insured |
||||||
2,500 |
Irvine Public Facilities and Infrastructure Authority, California, Assessment Revenue Bonds, Series |
3/05 at 103.00 |
AAA |
2,575,975 |
||
2003C, 5.000%, 9/02/23 - AMBAC Insured |
||||||
4,000 |
Montara Sanitation District, California, General Obligation Bonds, Series 2003, 5.000%, 8/01/28 - |
8/11 at 101.00 |
AAA |
4,191,120 |
||
FGIC Insured |
||||||
Plumas County, California, Certificates of Participation, Capital Improvement Program, Series |
||||||
2003A: |
||||||
1,130 |
5.250%, 6/01/19 - AMBAC Insured |
6/13 at 101.00 |
AAA |
1,254,718 |
||
1,255 |
5.250%, 6/01/21 - AMBAC Insured |
6/13 at 101.00 |
AAA |
1,384,052 |
||
1,210 |
Redding Joint Powers Financing Authority, California, Lease Revenue Bonds, Capital Improvement |
3/13 at 100.00 |
AAA |
1,276,695 |
||
Projects, Series 2003A, 5.000%, 3/01/23 - AMBAC Insured |
||||||
3,750 |
Sacramento Municipal Utility District, California, Electric Revenue Bonds, Series 2003R, 5.000%, |
8/13 at 100.00 |
AAA |
3,939,975 |
||
8/15/28 - MBIA Insured |
||||||
1,500 |
San Diego Community College District, California, General Obligation Bonds, Series 2003A, 5.000%, |
5/13 at 100.00 |
AAA |
1,573,770 |
||
5/01/28 - FSA Insured |
||||||
3,000 |
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, |
8/10 at 101.00 |
AAA |
3,094,800 |
||
Series 2002, 5.000%, 8/01/32 - MBIA Insured |
||||||
1,055 |
Turlock Irrigation District, California, Certificates of Participation, Series 2003A, 5.000%, |
1/13 at 100.00 |
AAA |
1,100,112 |
||
1/01/28 - MBIA Insured |
||||||
6,300 |
University of California, Revenue Bonds, Multi-Purpose Projects, Series 2003A, 5.000%, 5/15/33 - |
5/13 at 100.00 |
AAA |
6,575,310 |
||
AMBAC Insured |
||||||
Colorado - 3.8% (2.5% of Total Investments) |
||||||
|
||||||
Bowles Metropolitan District, Colorado, General Obligation Bonds, Series 2003: |
||||||
4,300 |
5.500%, 12/01/23 - FSA Insured |
12/13 at 100.00 |
AAA |
4,878,479 |
||
3,750 |
5.500%, 12/01/28 - FSA Insured |
12/13 at 100.00 |
AAA |
4,206,113 |
||
1,450 |
Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Peak-to-Peak |
8/14 at 100.00 |
AAA |
1,581,124 |
||
Charter School, Series 2004, 5.250%, 8/15/24 - XLCA Insured |
||||||
Florida - 1.1% (0.8% of Total Investments) |
||||||
|
||||||
3,000 |
Pinellas County Health Facilities Authority, Florida, Revenue Bonds, Baycare Health System, Series |
5/13 at 100.00 |
A1 |
3,180,930 |
||
2003, 5.500%, 11/15/27 |
||||||
Georgia - 1.4% (0.9% of Total Investments) |
||||||
|
||||||
3,825 |
Metropolitan Atlanta Rapid Transit Authority, Georgia, Sales Tax Revenue Bonds, Second Indenture |
1/13 at 100.00 |
AAA |
3,983,355 |
||
Series 2002, 5.000%, 7/01/32 - MBIA Insured |
||||||
Illinois - 3.9% (2.6% of Total Investments) |
||||||
|
||||||
Cook County School District 100, Berwyn South, Illinois, General Obligation Refunding Bonds, Series |
||||||
2003B: |
||||||
905 |
5.250%, 12/01/21 (Pre-refunded to 12/01/13) - FSA Insured |
12/13 at 100.00 |
Aaa |
1,028,234 |
||
405 |
5.250%, 12/01/21 - FSA Insured |
12/13 at 100.00 |
Aaa |
447,254 |
||
Cook County School District 145, Arbor Park, Illinois, General Obligation Bonds, Series 2004: |
||||||
3,285 |
5.125%, 12/01/20 - FSA Insured |
12/14 at 100.00 |
Aaa |
3,613,139 |
||
2,940 |
5.125%, 12/01/23 - FSA Insured |
12/14 at 100.00 |
Aaa |
3,198,838 |
||
2,500 |
Illinois Health Facilities Authority, Revenue Bonds, Lake Forest Hospital, Series 2003, 5.250%, |
7/13 at 100.00 |
A- |
2,589,300 |
||
7/01/23 |
||||||
Indiana - 8.9% (5.8% of Total Investments) |
||||||
|
||||||
2,500 |
Evansville, Indiana, Sewerage Works Revenue Refunding Bonds, Series 2003A, 5.000%, 7/01/23 - AMBAC |
7/13 at 100.00 |
AAA |
2,678,375 |
||
Insured |
||||||
2,190 |
Indiana Bond Bank, Common School Fund Advance Purchase Funding Bonds, Series 2003B, 5.000%, |
8/13 at 100.00 |
AAA |
2,363,689 |
||
8/01/19 - MBIA Insured |
||||||
1,000 |
Indiana University, Student Fee Revenue Bonds, Series 2003O, 5.000%, 8/01/22 - FGIC Insured |
8/13 at 100.00 |
AAA |
1,075,490 |
||
IPS Multi-School Building Corporation, Indiana, First Mortgage Revenue Bonds, Series 2003: |
||||||
11,020 |
5.000%, 7/15/19 - MBIA Insured |
7/13 at 100.00 |
AAA |
11,971,797 |
||
6,000 |
5.000%, 7/15/20 - MBIA Insured |
7/13 at 100.00 |
AAA |
6,500,640 |
||
Kansas - 2.4% (1.6% of Total Investments) |
||||||
|
||||||
6,250 |
Kansas Development Finance Authority, Revenue Bonds, Board of Regents, Scientific Research and |
4/13 at 102.00 |
AAA |
6,755,938 |
||
Development Facilities Projects, Series 2003C, 5.000%, 10/01/22 - AMBAC Insured |
||||||
Kentucky - 0.5% (0.3% of Total Investments) |
||||||
|
||||||
Kentucky State Property and Buildings Commission, Revenue Refunding Bonds, Project 77, Series 2003: |
||||||
340 |
5.000%, 8/01/23 - MBIA Insured |
8/13 at 100.00 |
AAA |
379,549 |
||
985 |
5.000%, 8/01/23 - MBIA Insured |
8/13 at 100.00 |
AAA |
1,056,856 |
||
Louisiana - 2.3% (1.5% of Total Investments) |
||||||
|
||||||
5,785 |
New Orleans, Louisiana, General Obligation Refunding Bonds, Series 2002, 5.300%, 12/01/27 - FGIC |
12/12 at 100.00 |
AAA |
6,335,443 |
||
Insured |
||||||
Massachusetts - 4.9% (3.3% of Total Investments) |
||||||
|
||||||
9,000 |
Massachusetts Bay Transportation Authority, Senior Sales Tax Revenue Refunding Bonds, Series 2002A, |
7/12 at 100.00 |
AAA |
9,428,130 |
||
5.000%, 7/01/27 - FGIC Insured |
||||||
1,125 |
Massachusetts Development Finance Authority, Revenue Bonds, Middlesex School, Series 2003, 5.125%, |
9/13 at 100.00 |
A1 |
1,203,491 |
||
9/01/23 |
||||||
3,000 |
Massachusetts Turnpike Authority, Metropolitan Highway System Revenue Bonds, Senior Series 1997A, |
1/07 at 102.00 |
AAA |
3,062,370 |
||
5.000%, 1/01/37 - MBIA Insured |
||||||
Michigan - 12.0% (7.9% of Total Investments) |
||||||
|
||||||
6,130 |
Detroit, Michigan, Senior Lien Water Supply System Revenue Bonds, Series 2003A, 5.000%, 7/01/23 - |
7/13 at 100.00 |
AAA |
6,575,528 |
||
MBIA Insured |
||||||
4,465 |
Detroit, Michigan, Senior Lien Water Supply System Revenue Refunding Bonds, Series 2003C, 5.000%, |
7/13 at 100.00 |
AAA |
4,806,394 |
||
7/01/22 - MBIA Insured |
||||||
955 |
Grand Rapids Community College, Kent County, Michigan, General Obligation Refunding Bonds, Series |
5/13 at 100.00 |
AAA |
1,062,590 |
||
2003, 5.250%, 5/01/18 - AMBAC Insured |
||||||
10,800 |
Michigan Strategic Fund, Limited Obligation Resource Recovery Revenue Refunding Bonds, Detroit |
12/12 at 100.00 |
AAA |
11,419,380 |
||
Edison Company, Series 2002D, 5.250%, 12/15/32 - XLCA Insured |
||||||
2,250 |
Romulus Community Schools, Wayne County, Michigan, General Obligation Refunding Bonds, Series 2001, |
5/11 at 100.00 |
AA+ |
2,468,925 |
||
5.250%, 5/01/25 |
||||||
6,500 |
Wayne County, Michigan, Limited Tax General Obligation Airport Hotel Revenue Bonds, Detroit |
12/11 at 101.00 |
AAA |
6,753,500 |
||
Metropolitan Wayne County Airport, Series 2001A, 5.000%, 12/01/30 - MBIA Insured |
||||||
Missouri - 1.1% (0.7% of Total Investments) |
||||||
|
||||||
Clay County Public School District 53, Liberty, Missouri, General Obligation Bonds, Series 2004: |
||||||
1,325 |
5.250%, 3/01/23 - FSA Insured |
3/14 at 100.00 |
AAA |
1,464,403 |
||
1,500 |
5.250%, 3/01/24 - FSA Insured |
3/14 at 100.00 |
AAA |
1,652,985 |
||
Nebraska - 1.9% (1.2% of Total Investments) |
||||||
|
||||||
5,000 |
Lincoln, Nebraska, Sanitary Sewerage System Revenue Refunding Bonds, Series 2003, 5.000%, |
6/13 at 100.00 |
AAA |
5,252,650 |
||
6/15/28 - MBIA Insured |
||||||
Nevada - 0.9% (0.6% of Total Investments) |
||||||
|
||||||
2,315 |
Clark County, Nevada, Subordinate Lien Airport Revenue Bonds, Series 2001B, 5.200%, 7/01/31 - FGIC |
7/11 at 100.00 |
AAA |
2,423,134 |
||
Insured |
||||||
New Mexico - 1.4% (0.9% of Total Investments) |
||||||
|
||||||
New Mexico State University, Revenue Bonds, Series 2004: |
||||||
1,975 |
5.000%, 4/01/19 - AMBAC Insured |
4/14 at 100.00 |
AAA |
2,156,108 |
||
1,530 |
5.000%, 4/01/23 - AMBAC Insured |
4/14 at 100.00 |
AAA |
1,646,969 |
||
New York - 9.4% (6.2% of Total Investments) |
||||||
|
||||||
25,000 |
Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds, Series |
11/12 at 100.00 |
AAA |
26,053,750 |
||
2002F, 5.000%, 11/15/31 - MBIA Insured |
||||||
North Carolina - 3.3% (2.2% of Total Investments) |
||||||
|
||||||
8,700 |
North Carolina Medical Care Commission, Revenue Bonds, Maria Parham Medical Center, Series 2003, |
10/13 at 100.00 |
AA |
9,227,916 |
||
5.375%, 10/01/33 - RAAI Insured |
||||||
Ohio - 0.9% (0.6% of Total Investments) |
||||||
|
||||||
2,270 |
Columbus, Ohio, Tax Increment Financing Bonds, Easton Project, Series 2004A, 5.000%, 12/01/21 - |
6/14 at 100.00 |
AAA |
2,444,336 |
||
AMBAC Insured |
||||||
Oregon - 3.9% (2.6% of Total Investments) |
||||||
|
||||||
9,350 |
Oregon Health Sciences University, Revenue Bonds, Series 2002A, 5.000%, 7/01/32 - MBIA Insured |
1/13 at 100.00 |
AAA |
9,762,616 |
||
1,000 |
Sunrise Water Authority, Oregon, Water Revenue Bonds, Series 2004, 5.000%, 3/01/19 - FSA Insured |
3/14 at 100.00 |
AAA |
1,090,220 |
||
Pennsylvania - 8.6% (5.7% of Total Investments) |
||||||
|
||||||
3,000 |
Lehigh County General Purpose Authority, Pennsylvania, Hospital Revenue Bonds, St. Luke's Hospital |
8/13 at 100.00 |
BBB |
3,077,340 |
||
of Bethlehem, Series 2003, 5.375%, 8/15/33 |
||||||
2,000 |
Philadelphia Gas Works, Pennsylvania, Revenue Bonds, General Ordinance, Fourth Series 1998, |
8/13 at 100.00 |
AAA |
2,082,180 |
||
5.000%, 8/01/32 - FSA Insured |
||||||
Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Series 1997A: |
||||||
925 |
5.125%, 8/01/27 - AMBAC Insured |
8/07 at 102.00 |
AAA |
986,753 |
||
4,075 |
5.125%, 8/01/27 - AMBAC Insured |
8/07 at 102.00 |
AAA |
4,329,606 |
||
13,000 |
State Public School Building Authority, Pennsylvania, Lease Revenue Bonds, Philadelphia School |
6/13 at 100.00 |
AAA |
13,515,450 |
||
District Project, Series 2003, 5.000%, 6/01/33 - FSA Insured |
||||||
South Carolina - 7.3% (4.8% of Total Investments) |
||||||
|
||||||
5,000 |
Florence County, South Carolina, Hospital Revenue Bonds, McLeod Regional Medical Center, Series |
11/14 at 100.00 |
AAA |
5,491,700 |
||
2004A, 5.250%, 11/01/23 - FSA Insured |
||||||
Greenville County School District, South Carolina, Installment Purchase Revenue Bonds, Series 2003: |
||||||
3,000 |
5.000%, 12/01/22 |
12/13 at 100.00 |
AA- |
3,161,850 |
||
1,785 |
5.000%, 12/01/23 |
12/13 at 100.00 |
AA- |
1,875,928 |
||
1,365 |
Myrtle Beach, South Carolina, Water and Sewerage System Revenue Refunding Bonds, Series 2003, |
3/13 at 100.00 |
AAA |
1,533,072 |
||
5.375%, 3/01/19 - FGIC Insured |
||||||
8,000 |
South Carolina Transportation Infrastructure Bank, Revenue Bonds, Series 2002A, 5.000%, 10/01/33 - |
10/12 at 100.00 |
Aaa |
8,311,680 |
||
AMBAC Insured |
||||||
Texas - 13.1% (8.6% of Total Investments) |
||||||
|
||||||
7,975 |
Fort Bend Independent School District, Fort Bend County, Texas, General Obligation Bonds, Series |
8/10 at 100.00 |
AAA |
8,432,526 |
||
2000, 5.000%, 8/15/25 |
||||||
12,500 |
Grand Prairie Independent School District, Dallas County, Texas, General Obligation Bonds, Series |
2/13 at 100.00 |
AAA |
13,107,000 |
||
2003, 5.125%, 2/15/31 - FSA Insured |
||||||
5,515 |
Houston, Texas, General Obligation Refunding Bonds, Series 2002, 5.250%, 3/01/20 - MBIA Insured |
3/12 at 100.00 |
AAA |
6,073,173 |
||
2,000 |
Houston, Texas, First Lien Combined Utility System Revenue Bonds, Series 2004A, 5.250%, 5/15/25 - |
5/14 at 100.00 |
AAA |
2,183,320 |
||
MBIA Insured |
||||||
5,850 |
Katy Independent School District, Harris, Fort Bend and Waller Counties, Texas, General Obligation |
2/12 at 100.00 |
AAA |
6,378,255 |
||
Bonds, Series 2002A, 5.125%, 2/15/18 |
||||||
Virginia - 0.6% (0.4% of Total Investments) |
||||||
|
||||||
1,500 |
Hampton, Virginia, Revenue Bonds, Convention Center Project, Series 2002, 5.125%, 1/15/28 - AMBAC |
1/13 at 100.00 |
AAA |
1,589,760 |
||
Insured |
||||||
Washington - 9.2% (6.1% of Total Investments) |
||||||
|
||||||
4,945 |
Broadway Office Properties, King County, Washington, Lease Revenue Bonds, Washington Project, |
12/12 at 100.00 |
AAA |
5,114,663 |
||
Series 2002, 5.000%, 12/01/31 - MBIA Insured |
||||||
5,250 |
Chelan County Public Utility District 1, Washington, Hydro Consolidated System Revenue Bonds, |
7/12 at 100.00 |
AAA |
5,467,875 |
||
Series 2002C, 5.125%, 7/01/33 - AMBAC Insured |
||||||
2,135 |
Kitsap County Consolidated Housing Authority, Washington, Revenue Bonds, Bremerton Government |
7/13 at 100.00 |
Aaa |
2,266,644 |
||
Center, Series 2003, 5.000%, 7/01/23 - MBIA Insured |
||||||
1,935 |
Pierce County School District 343, Dieringer, Washington, General Obligation Refunding Bonds, |
6/13 at 100.00 |
Aaa |
2,162,266 |
||
Series 2003, 5.250%, 12/01/17 - FGIC Insured |
||||||
9,670 |
Washington, General Obligation Bonds, Series 2003D, 5.000%, 12/01/21 - MBIA Insured |
6/13 at 100.00 |
AAA |
10,452,303 |
||
West Virginia - 1.2% (0.8% of Total Investments) |
||||||
|
||||||
3,000 |
West Virginia State Building Commission, Lease Revenue Refunding Bonds, Regional Jail and |
No Opt. Call |
AAA |
3,459,510 |
||
Corrections Facility, Series 1998A, 5.375%, 7/01/21 - AMBAC Insured |
||||||
Wisconsin - 6.6% (4.4% of Total Investments) |
||||||
|
||||||
1,190 |
Sun Prairie Area School District, Dane County, Wisconsin, General Obligation Bonds, Series 2004C, |
3/14 at 100.00 |
Aaa |
1,305,644 |
||
5.250%, 3/01/24 - FSA Insured |
||||||
4,750 |
Wisconsin Health and Educational Facilities Authority, Revenue Refunding Bonds, Wausau Hospital |
8/08 at 102.00 |
AAA |
5,088,960 |
||
Inc., Series 1998A, 5.125%, 8/15/20 - AMBAC Insured |
||||||
3,000 |
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Meriter Hospital Inc., Series |
No Opt. Call |
AAA |
3,541,860 |
||
1992A, 6.000%, 12/01/22 - FGIC Insured |
||||||
3,600 |
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan Services |
8/13 at 100.00 |
A |
3,679,848 |
||
Inc., Series 2003A, 5.125%, 8/15/33 |
||||||
4,605 |
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Franciscan Sisters of |
9/13 at 100.00 |
A- |
4,790,301 |
||
Christian Charity Healthcare Ministry, Series 2003A, 5.875%, 9/01/33 |
||||||
| $ | 395,385 |
Total Long-Term Investments (cost $396,729,382) - 151.5% |
420,607,400 |
|||
Other Assets Less Liabilities - 0.4% |
1,023,556 |
|||||
Preferred Shares, at Liquidation Value - (51.9)% |
(144,000,000) |
|||||
Net Assets Applicable to Common Shares - 100% |
$277,630,956 |
|||||
|
Forward Swap Contracts outstanding at January 31, 2005: |
Swap | Unrealized | |||||
|---|---|---|---|---|---|---|
Notional |
Effective |
Termination |
Appreciation |
|||
Amount | Date(2) | Date | (Depreciation) |
|||
Agreement with Goldman Sachs dated December 6, 2004, to pay |
||||||
semi-annually the notional amount multiplied by 5.324% (annualized) |
||||||
and receive quarterly the notional amount multiplied by the |
||||||
three-month USD-LIBOR (United States Dollar-London |
||||||
Inter-Bank Offered Rates). |
$5,000,000 |
7/11/05 |
7/11/25 |
$(220,642) |
||
Agreement with Goldman Sachs dated December 7, 2004, to |
||||||
pay semi-annually the notional amount multiplied by 5.401% |
||||||
(annualized) and receive quarterly the notional amount multiplied |
||||||
by the three-month USD-LIBOR (United States Dollar-London |
||||||
Inter-Bank Offered Rates). |
20,000,000 |
7/18/05 |
7/18/35 |
(1,142,634) |
||
Agreement with Goldman Sachs dated January 10, 2005, to |
||||||
pay semi-annually the notional amount multiplied by 5.251% |
||||||
(annualized) and receive quarterly the notional amount multiplied |
||||||
by the three-month USD-LIBOR (United States Dollar-London |
||||||
Inter-Bank Offered Rates). |
18,000,000 |
8/16/05 |
8/16/25 |
(594,682) |
||
$(1,957,957) |
||||||
|
At least 80% of the Fund's net assets are invested in municipal securities that are either covered by |
||
Original Issue Insurance, Secondary Market Insurance or Portfolio Insurance which ensures the timely |
|||
payment of principal and interest. Up to 20% of the Fund's net assets may be invested in municipal |
|||
securities that are (i) either backed by an escrow or trust containing sufficient U.S. Government or U.S. |
|||
Government agency securities (also ensuring the timely payment of principal and interest), or (ii) municipal |
|||
bonds that are rated, at the time of investment, within the four highest grades (Baa or BBB or better by |
|||
Moody's, S&P or Fitch) or unrated but judged to be of comparable quality by the Adviser. |
|||
(1) |
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common |
||
shares unless otherwise noted. |
|||
(2) |
Effective date represents the date on which both the Fund and counterparty commence interest payment |
||
accruals on each forward swap contract. |
|||
* |
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There |
||
may be other call provisions at varying prices at later dates. |
|||
** |
Ratings: Using the higher of Standard & Poor's or Moody's rating. |
||
(PLG) |
Portion of security with an aggregate market value of $1,945,076, has been pledged to collateralize the net |
||
payment obligations under forward swap contracts. |
|||
Income Tax Information |
|||
The following information is presented on an income tax basis. Differences between amounts for financial |
|||
statement and federal income tax purposes are primarily due to timing differences in recognizing income on |
|||
taxable market discount securities and timing differences in recognizing certain gains and losses on |
|||
security transactions. |
|||
At January 31, 2005, the cost of investments was $396,710,770. |
|||
Gross unrealized appreciation and gross unrealized depreciation of investments at January 31, 2005, |
|||
were as follows: |
|||
Gross unrealized: |
|||
Appreciation |
$23,896,630 |
||
Depreciation |
- |
||
Net unrealized appreciation of investments |
$23,896,630 |
||
Item 2. Controls and Procedures.
Item 3. Exhibits.
File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached hereto.
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Nuveen Insured Tax-Free Advantage Municipal Fund
By (Signature and Title)* /s/ Jessica R. Droeger--Vice President and Secretary
Date 04/01/05
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* /s/ Gifford R. Zimmerman--Chief Administrative Officer (principal executive officer)
Date 04/01/05
By (Signature and Title)* /s/ Stephen D. Foy--Vice President and Controller (principal financial officer)
Date 04/01/05
* Print the name and title of each signing officer under his or her signature.