Filed Pursuant to Rule 424(b)(3)

File No. 333-237289

NUVEEN MUNICIPAL INCOME FUND, INC. (NYSE: NMI)

(THE “FUND”)

SUPPLEMENT DATED OCTOBER 13, 2023

TO THE FUNDS PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION (“SAI”)

DATED SEPTEMBER 23, 2020, AS SUPPLEMENTED

 

 

 

1.

Kristen M. DeJong and Scott R. Romans, PhD, have been named portfolio managers of the Fund. Christopher L. Drahn, CFA, will continue to serve as a portfolio manager for the Fund until his retirement on April 1, 2024. The day-to-day operation of the Fund and the execution of its specific investment strategies is the primary responsibility of each of the Fund’s portfolio managers.

 

2.

Based on the foregoing, effective April 1, 2024, all references and information relating to Mr. Drahn are removed from the Fund’s Prospectus and SAI, and any supplements thereto. In addition, effective immediately, the following descriptions of the Fund’s new portfolio managers have been added under the “Sub-Adviser” sub-section in the Prospectus and the “Portfolio Manager—Portfolio Management” sub-section in the SAI:

Kristen M. DeJong, CFA, is Managing Director and Portfolio Manager at Nuveen Asset Management, LLC (“NAM”). She began her career in the financial services industry in 2005 and joined NAM in 2008. She served as a research associate in the wealth management services area and then as a senior research analyst for NAM’s municipal fixed income team before assuming portfolio management responsibilities in 2021.

Scott R. Romans, PhD, is Managing Director and Portfolio Manager at NAM. He began his career in the financial services industry when he joined NAM in 2000. He assumed portfolio management responsibilities in 2003.

 

3.

Effective immediately, the following information is added to the table under the “Portfolio Manager—Other Accounts Managed” section of the SAI:

 

Portfolio Managers

  

Type of Account Managed

   Number
of Accounts
   Assets
(millions)
     Number of
Accounts with
Performance-
Based Fees
   Assets of
Accounts with
Performance-
Based Fees

Kristen M. DeJong*

   Registered Investment Companies    1      $819      0    $0
   Other Pooled Investment Vehicles    0      $0      0    $0
     Other Accounts    52      $15,427      0    $0

Scott R. Romans*

   Registered Investment Companies    12      $15,158      0    $0
   Other Pooled Investment Vehicles    0      $0      0    $0
   Other Accounts    0      $0      0    $0

* Began serving as a portfolio manager of the Fund on October 13, 2023. Information provided is as of August 31, 2023.


4.

Effective immediately, the following information is added to the table under the “Portfolio Manager—Fund Shares Owned by the Portfolio Manager” sub-section of the SAI:

 

 

Portfolio Managers

      

Dollar Range of Equity

Securities Beneficially Owned

 

 

Kristen M. DeJong*

    

 

None

  Scott R. Romans*      None

* Began serving as a portfolio manager of the Fund on October 13, 2023. Information provided is as of August 31, 2023.

PLEASE KEEP THIS WITH YOUR FUND’S

PROSPECTUS AND SAI FOR FUTURE REFERENCE

EPR-NMIPS-1023P

 

2


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