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Nuveen Michigan Quality Municipal Income Fund – ‘NSAR-B’ for 2/28/17

On:  Friday, 4/28/17, at 4:42pm ET   ·   Effective:  4/28/17   ·   For:  2/28/17   ·   Accession #:  1083839-17-82   ·   File #:  811-06383

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/28/17  Nuveen Michigan Quality Muni … Fd NSAR-B      2/28/17    4:17K                                    Nuveen Quality Muni … Fd

Annual Report by an Investment Company   —   Form N-SAR   —   ICA’40
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: NSAR-B      Annual Report by an Investment Company                 8     35K 
 2: EX-99.77B ACCT LTTR  Accountant's Report re: Internal Controls     3±    11K 
 3: EX-99.77Q1 OTHR EXHB  Other Disclosure                             1      4K 
 4: EX-99.77Q1 OTHR EXHB  Other Disclosure                             2±     8K 


‘NSAR-B’   —   Annual Report by an Investment Company




SEC Info rendering:  Data from the Answer File, which may only contain updates to a prior Form N-SAR


Form N-SAR
 
Annual Report by a Closed-End Investment Company
 
Report 
 
      Registrant:   Nuveen Mi Quality Municipal Income FundList all N-SARs

Annual Report for the 2nd-half period ended at fiscal year end:  2/28/17

Were there any Answer File errors in the Filing?  None Found
Was the Answer File completed by the Registrant?  Yes

Is this an Amendment to a previous Report?  No
Is this a change to a previous Report?      No
 
Registrant 
 
 1.SEC CIK:      878198
SEC File #:   811-06383

Telephone #:  312-917-8200
 
 2.Address:      333 West Wacker Drive
              Chicago, IL  60606
 
 3.Is this the first Form N-SAR filed by the Registrant?  No
 
 4.Is this the final Form N-SAR filed by the Registrant?  No
 
 
Funds/Series Top of Form N-SAR 
                                                                                    
 7.Is the Registrant a Funds/Series (multiple portfolios) company?  No
 
Investment Adviser 
 
 8.1Name:         Nuveen Fund Advisors, LLC
Role:         Adviser
SEC File #:   801-14147
Location:     Chicago, IL
 
 8.2Name:         Nuveen Asset Management, LLC
Role:         Sub-Adviser
SEC File #:   801-71957
Location:     Chicago., IL
 
Shareholder Servicing/Transfer Agent 
 
12.1Name:         Computershare Inc.
SEC File #:   084-05925
Location:     Providence, RI
 
Independent Public Accountant 
 
13.1Name:         KPMG LLP
Location:     Chicago, IL
 
Affiliated Broker/Dealer 
 
14.1Name:         Nuveen Securities LLC
SEC File #:   008-13464
 
14.2Name:         Teachers Personal Investor Services, Inc.
SEC File #:   008-47051
 
14.3Name:         Tiaa-Cref Individual & Institutional Services
SEC File #:   008-44454
 
Custodian 
 
15.1Name:         State Street Bank & Trust Co.
Role:         Custodian
Location:     Boston, MA

Type of custody:  Section 17(f)(1) — Bank
 
18.Does the Registrant’s/Series’ Custodian(s) maintain some or all of the
Registrant’s/Series’ securities in a central depository or book-entry
system pursuant to Rule 17f-4?  Yes
 
Family of Investment Companies 
 
19.Is the Registrant/Series part of a “family” of investment companies?  Yes

Total number of registered management investment companies, Series
and portfolios (excluding any Unit Investment Trusts) in the family:  182

The Identification Code of the family for Form N-SAR Filings:  NUVEENFUND
 
Portfolio Transactions with Entities Acting as Principals 
 
22.The entities acting as principals with whom the Registrant did the
largest amount of portfolio transactions, based on total value of
principal, during the period:
 
22.1Entity:       Citigroup
IRS #:        13-3214963
Registrant’s purchases ($000s)41,079
Registrant’s sales ($000s)16,590
 
22.2Entity:       PNC Securities Corp.
IRS #:        25-1471636
Registrant’s purchases ($000s)12,532
 
22.3Entity:       Loop Capital Markets
IRS #:        36-4164012
Registrant’s purchases ($000s)5,225
Registrant’s sales ($000s)7,297
 
22.4Entity:       RBC Dominion
IRS #:        13-5033225
Registrant’s purchases ($000s)6,840
Registrant’s sales ($000s)4,562
 
22.5Entity:       Stifel, Nicolaus & Co.
IRS #:        43-0538770
Registrant’s purchases ($000s)11,208
 
22.6Entity:       Goldman Sachs
IRS #:        13-5108880
Registrant’s purchases ($000s)8,123
 
22.7Entity:       Merrill Lynch
IRS #:        13-5674085
Registrant’s purchases ($000s)7,856
 
22.8Entity:       R Seelaus & Co.
IRS #:        22-2501042
Registrant’s sales ($000s)7,840
 
22.9Entity:       Mesirow Capital MKTS
IRS #:        36-3194849
Registrant’s sales ($000s)5,874
 
22.10Entity:       JP Morgan Chase
IRS #:        13-3224016
Registrant’s purchases ($000s)3,291
Registrant’s sales ($000s)2,282
 
23.Total purchase/sale transactions by the Registrant during the period:
   Aggregate purchases ($000s)113,999
   Aggregate sales ($000s)48,985
 
Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers 
 
24.At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities?  No
 
Considerations which Affected the Participation of Brokers or Dealers 
 
26.Considerations which affected the participation of brokers or dealers or
other entities in commissions or other compensation paid on portfolio
transactions of the Registrant:

Consideration?
Sales of the Registrant’s/Series’ shares ...............................  No
Receipt of investment research and statistical info ....................  No
Receipt of quotations for portfolio valuations .........................  No
Ability to execute portfolio transactions to obtain the best price
  and execution ........................................................  Yes
Receipt of telephone line and wire services ............................  No
Broker or Dealer which is an affiliated person .........................  No
An arrangement to return or credit part or all of commissions or
  profits thereon...
    To an Investment Adviser or Principal Underwriter, or to an
      affiliated person of either ......................................  No
    To the Registrant ..................................................  No
Other ..................................................................  No
 
Investment Company Type 
 
27.Is the Registrant an “open-end” investment company?  No, Closed-End
 
Advisory Fee 
 
45.Did the Registrant/Series have an advisory contract during the period?  Yes
 
46.Did the Registrant/Series pay more than one Investment Adviser directly
for investment advice during the period?  No
 
47.Was the Registrant’s/Series’ advisory fee based solely on a percentage
of its assets?  No
 
49.Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income?  No
 
50.Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets?  No
 
51.Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance?  No
 
52.Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants?  Yes
 
53.Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws?  No
 
54.Indicated below are whether services were supplied or paid for wholly or
in substantial part by Investment Adviser(s) or Administrator(s) in
connection with the advisory or administrative contract(s) but for which
the Adviser(s) or Administrator(s) are not reimbursed by the Registrant:

Provided to the Registrant?
Occupancy and office rental ............................................  Yes
Clerical and bookkeeping services ......................................  No
Accounting services ....................................................  No
Services of independent auditors .......................................  No
Services of outside counsel ............................................  No
Registration and filing fees ...........................................  No
Stationery, supplies and printing ......................................  No
Salaries & compensation of Registrant’s interested Directors ...........  Yes
Salaries & compensation of Registrant’s disinterested Directors ........  No
Salaries & compensation of Registrant’s Officers who aren’t Directors ..  Yes
Reports to current shareholders ........................................  No
Determination of offering and redemption prices ........................  No
Trading department .....................................................  Yes
Prospectus preparation and printing for current shareholders ...........  No
Other ..................................................................  Yes
 
Miscellaneous Info 
 
55.Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
    Overdrafts?  Yes
    Bank loans?  No
 
56.During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies?  Yes
 
57.Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend?  No
 
Classification and Asset Allocation 
 
58.Is the Registrant/Series a Separate Account of an insurance company?  No
 
59.Is the Registrant/Series a management investment company?  Yes
 
60.Was the Registrant/Series a diversified investment company at any time
during the period?  Yes

Was the Registrant/Series a diversified investment company at the end of
the period?  Yes
 
61.The lowest minimum initial investment required by the Registrant/Series
from an investor that is not an employee or otherwise affiliated with
the Registrant/Series, its Investment Adviser, Principal Underwriter or
other affiliated entity:  $0
 
62.Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities?  Yes

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ...............................      0.0%
U.S. Government Agency ......................      0.0
Repurchase agreements .......................      0.0
State and Municipal – tax-free ..............      0.0
Bank certificates of deposit – domestic .....      0.0
Bank certificates of deposit – foreign ......      0.0
Bankers acceptances .........................      0.0
Commercial paper – taxable ..................      0.0
Time deposits ...............................      0.0
Options .....................................      0.0
All other ...................................      0.0

Debt — Intermediate & Long-Term Maturities
U.S. Treasury ...............................      0.0%
U.S. Government Agency ......................      0.0
State and Municipal – tax-free ..............  159.1
Corporate ...................................      0.0
All other ...................................      0.0

Non-Debt
Investments other than debt securities ......      0.0%
 
63.The dollar-weighted average portfolio maturity at period end in days or,
if longer than one year, in years (to one decimal place):
    Days:     0
    Years:    5.9
 
64.Is the timely payment of principal and interest on any of the
instruments listed in Item 62 insured or guaranteed by an entity other
than the issuer?  Yes

Is the issuer of any instrument covered in Item 62 delinquent or in
default as to payment of principal or interest at period end?  No
 
66.Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities?  No
 
67.Is the Registrant/Series a “balanced” Fund?  No
 
68.Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
    Engaged primarily in production or distribution of precious metals?  No
    Located primarily in countries other than the United States?  No
 
69.Is the Registrant/Series an index Fund?  No
 
Investment Practices 
 
70.Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity                                            Permitted Engaged In
Writing or investing in repurchase agreements?           Yes      No
Writing or investing in options on equities?             No        
Writing or investing in options on debt securities?      Yes      No
Writing or investing in options on stock indices?        No        
Writing or investing in interest rate futures?           Yes      No
Writing or investing in stock index futures?             No        
Writing or investing in options on futures?              Yes      No
Writing or investing in options on stock index futures?  No        
Writing or investing in other commodity futures?         No        
Investments in restricted securities?                    Yes      No
Investments in shares of other investment companies?     No        
Investments in securities of foreign issuers?            No        
Currency exchange transactions?                          No        
Loaning portfolio securities?                            No        
Borrowing of money?                                      Yes      No
Purchases/sales by certain exempted affiliated persons?  No        
Margin purchases?                                        No        
Short selling?                                           No        
 
Portfolio Turnover 
 
71.Portfolio turnover rate for the period:
 
Purchases ($000s)114,002
Sales ($000s):      100,728

Monthly average Value of portfolio ($000s)509,153

Percent turnover (lesser of Purchases or Sales, divided by Value):  20%
 
Financial Info — Income and Expenses 
 
72.The number of months covered by the values in Items 72 and 73:  12

Income  ($000s)
Net interest income ..............................................
20,482
Net dividend income ..............................................
Account maintenance fees .........................................
Net other income .................................................

Expenses  ($000s)
Advisory fees ....................................................
3,008
Administrator fees ...............................................
Salaries and other compensation ..................................
Shareholder Servicing Agent fees ................................. 38
Custodian fees ................................................... 63
Postage .......................................................... 14
Printing expenses ................................................ 28
Directors’ fees .................................................. 14
Registration fees ................................................
Taxes ............................................................
Interest ......................................................... 2,907
Bookkeeping fees paid to anyone performing this service ..........
Auditing fees .................................................... 27
Legal fees ....................................................... 17
Marketing/distribution payments, incl. Rule 12b-1 plan payments ..
Amortization of organization expenses ............................
Shareholder meeting expenses .....................................
Other expenses ................................................... 81
Total expenses ................................................... 6,197

Expense reimbursements ($000s):   0

Net investment income ($000s):    14,285

Realized capital gains ($000s):   0
Realized capital losses ($000s)86

Net unrealized appreciation during the period ($000s)0
Net unrealized depreciation during the period ($000s)15,175

Total income dividends for which the record date passed during the
period ($000s)14,903

Total capital gains distributions for which the record date passed
during the period ($000s)1,290
 
73.Distributions per share for which the record date passed during the
period, shown in fractions of a cent, if so declared:

Dividends from net investment income:    $0.7161
Dividends for a second class of shares:  $0.0620

Distribution of capital gains:  $0.0000
Other distributions:            $0.0000
 
Financial Info — Condensed Balance Sheet Data 
 
74.Assets  ($000s)
Cash ............................................................. 1,443
Repurchase agreements ............................................
Short-term debt securities, other than repurchase agreements .....
Long-term debt securities, including convertible debt ............ 500,009
Preferred, conv. preferred and adjustable-rate preferred stock ...
Common stock .....................................................
Options on equities ..............................................
Options on all futures ...........................................
Other investments ................................................
Receivables from portfolio instruments sold ...................... 1,259
Receivables from affiliated persons ..............................
Other receivables ................................................ 6,279
All other assets ................................................. 44
Total assets ..................................................... 509,034

Liabilities  ($000s)
Payables for portfolio instruments purchased .....................
1,166
Amounts owed to affiliated persons ............................... 225
Senior long-term debt ............................................
Other liabilities:
  Reverse repurchase agreements ..................................
  Short sales ....................................................
  Written options ................................................
  All other liabilities .......................................... 193,346

Equity  ($000s)
Senior equity ....................................................
Net assets of common shareholders ................................ 314,297

Number of shares outstanding (000s):   20,811

Net Asset Value (NAV) per share (to nearest cent):  $15.10

Total number of shareholder accounts:  628

Total value of assets in segregated accounts ($000s)302,534
 
75.Monthly average net assets during the period ($000s)328,981
 
76.Market price per share at period end:  $13.50
 
Additional Disclosures 
 
77.Did the Registrant file any additional Exhibits with the filing of this
Report (listed here and filed either herewith — as one of the ‘EX-99.*’
Exhibits in this Filing — or separately and incorporated by reference)?  Yes

EX-99.77B:  Accountant’s Report re: Internal ControlsYes

EX-99.77Q1: Other DisclosureYes
 
Subsidiaries 
 
78.Does the Registrant have any wholly-owned investment company
subsidiaries whose operating and financial data are consolidated with
that of the Registrant in this Report?  No
 
Fidelity Bond in Effect at Fiscal Year End 
 
80.Insurer:      Chubb Group
2nd Insurer:  Travelers, Berkley, Great American, Cna & Zurich

Aggregate face amount of coverage for the Registrant/Series on all bonds
on which it is named as an insured ($000s)114,000
 
81.Is the bond part of a joint fidelity bond(s) shared with other
investment companies or other entities?  Yes

How many other investment companies or other entities are covered by the
bond (counting each Fund/Series as a separate investment company):  181
 
82.Does the mandatory coverage of the fidelity bond have a deductible?  No
 
83.Were any claims with respect to this Registrant/Series filed under the
bond during the period?  No
 
84.Were any losses incurred with respect to this Registrant/Series that
could have been filed as a claim under the fidelity bond but were not?  No
 
85.Are the Registrant’s/Series’ Officers and Directors covered as Officers
and Directors of the Registrant/Series under any errors and omissions
insurance policy owned by the Registrant/Series or anyone else?  Yes

Were any claims filed under such policy during the period with respect
to the Registrant/Series?  No
 
Sales, Repurchases and Redemptions 
 
86.Sales, repurchases and redemptions of the Registrant’s securities:
 
Common Stock
Sales:
    Number of shares (000s):   0
    Net consideration received ($000s)0
Repurchases:
    Number of shares (000s):   0
    Net consideration paid ($000s):      0

Preferred Stock
Sales:
    Number of shares (000s):   0
    Net consideration received ($000s)0
Repurchases and redemptions:
    Number of shares (000s):   0
    Net consideration paid ($000s):      0

Debt Securities
Sales:
    Principal amount ($000s)0
    Net consideration received ($000s)0
Repurchases and redemptions:
    Principal amount ($000s)0
    Net consideration paid ($000s):      0
 
Securities Outstanding 
 
87.Securities of the Registrant that are registered on a national
securities exchange or listed on Nasdaq:
 
Title of class:  Common Stock
    CUSIP/CINS:  670979·10·3
        Symbol:  NUM
 
88.Did the Registrant have any of the following outstanding which exceeded
1% of aggregate net assets at any time during the period:

Notes or bonds?     No
Uncovered options?  No
Margin loans?       No
Preferred stock?    Yes
 
 Signature  Top of Form N-SAR 
                                                                                    
/s/      Stephen D. Foy      
Name:   Stephen D. Foy
Title:  V.P. & Controller

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