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Nuveen Core Equity Alpha Fund (NYSE: JCE)
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The investment objective of the fund is to provide an attractive level of total return, primarily through long term capital appreciation and secondarily through income and gains.
The fund will invest in a portfolio of common stocks selected from among the 500 stocks comprising the S&P 500 Index, using a proprietary mathematical process designed by INTECH to select large cap, core equity securities and will also employ innovative risk reduction techniques. Typically, the fund's equity portfolio will hold 150-450 stocks included in the S&P 500 Index.
| Current Distribution (Quarterly) (As of 10/1/2010) | $0.2700 |
| Monthly Equivalent Distribution | $0.0900 |
| Avg. Earnings/Share** ( As of 7/31/2010) | $0.0067 |
| Annualized 1 Year Total Return on NAV (As of 8/31/2010) | 7.02% |
| Annualized Distribution Rate on NAV †† | 8.56% |
| Annualized Since Inception Total Return on NAV (As of 8/31/2010) | -4.05% |
- A unique, highly disciplined mathematical investment strategy designed to seek to achieve long-term returns in excess of the S&P 500 Index (“Alpha”) with equal or less risk than the benchmark
- Seeks to provide attractive quarterly distributions
- Provides an alternative to index-oriented equity products or passively managed index strategies
- Combines investment expertise of two premier managers
- INTECH risk-managed mathematical investment process
- Nuveen fund management and option strategy execution
| Closing Share Price (As of 9/1/2010) | $12.00 |
| Closing NAV per Share (As of 9/1/2010) | $12.61 |
| Premium / Discount | -4.83% |
| Current Distribution Rate (Market price)†† | 9.00% |
| Distribution Amount (Quarterly) | $0.2700 |
| Total Managed Assets | $202,234,957 |
| Common Shares | |
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| Total Common Net Assets | $202,234,957 |
| Shares Outstanding | 16,026,686 |
| Avg Daily Volume (in shares) | 54,486 |
| CUSIP | 67090X107 |
| NAV Ticker | XJCEX |
| Inception Date | 3/27/2007 |
| Inception NAV | $19.10 |
| Inception Share Price | $20.00 |
| # of Holdings | 367 |
| % Foreign Holdings ‡ | 0.44% |
| % Large, Mid, Small Cap † | 93.1%,6.8%,0.1% |
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Share Price | 0.84% | 41.27% | -34.06% | -- | -- | -- | -- | -- | -- | -- |
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NAV | -2.83% | 23.16% | -30.84% | -- | -- | -- | -- | -- | -- | -- |
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Share Price | 21.98% | -2.57% | -- | -- | -5.44% |
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NAV | 7.02% | -4.45% | -- | -- | -4.05% |
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| INTECH Investment Management is an independently managed subsidiary of Janus Capital Group, Inc., and has provided investment advisory services since 1987. INTECH Investment Management specializes exclusively in providing highly disciplined, mathematical investment strategies designed to seek long term returns in excess of target benchmarks. |
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| Nuveen Asset Management’s option team, Rob Guttschow and John Gambla, follows a disciplined investment approach designed to enhance risk-adjusted returns by providing the potential for current gains and reduced relative risk and sensitivity to various sectors and exposures in a core portfolio. They design and manage equity and alternative based portfolios for a variety of funds. |
| Total Fund | Common Shares | |
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| Management Fees | 0.94% | 0.94% |
| Other Expenses | 0.20% | 0.20% |
| Total | 1.14% | 1.14% |
| Issuer | Dollar Value | % of Total Portfolio |
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| Exxon Mobil Corpora: Equity | $10,341,712 | 4.71% |
| Chicago Mercantile: Debt | $7,282,500 | 3.35% |
| AT&T Inc: Equity | $6,240,360 | 2.87% |
| International Busin: Equity | $4,693,950 | 2.16% |
| Apple Computer Inco: Equity | $4,440,177 | 2.04% |
| United States of Am: Treasury Obligatio | $3,997,208 | 1.84% |
| Microsoft Corporati: Equity | $3,688,020 | 1.70% |
| Johnson and Johnson: Equity | $3,273,040 | 1.51% |
| General Electric Co: Equity | $3,230,500 | 1.49% |
| Hewlett Packard Com: Equity | $3,024,235 | 1.39% |
Data shown represents past performance and is no guarantee of future results. Market price and net asset value (NAV) of a Fund's shares will fluctuate with market conditions. Current performance may be higher or lower than the performance shown.
* For the 3.63% of the portfolio invested in debt securities.
**The average earnings per share and UNII figures are monthly amounts based on three month averages for the municipal funds and senior loan funds and six month averages for all other taxable funds. For JRS and 25% of JDD, the average earnings per share represents net REIT cash flow which may consist of income, capital gains and/or a return of capital.
† Percentage are relative to the 93.80% of the portfolio invested in equity securities.
†† Distribution rates represent the latest declared regular distribution, annualized, relative to the most recent daily market price and NAV.
‡ Relative to the fund's total managed assets.
Total return is determined by subtracting the initial investment from the redeemable value of the investment at the end of the investment period, dividing the remainder by the initial investment and expressing the result as a percentage. The calculation assumes that all fund distributions have been reinvested.
