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Nuveen Tax-Advantaged Total Return Strategy Fund (NYSE: JTA)
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The fund's investment objective is to achieve a high level of after-tax total return consisting primarily of tax-advantaged dividend income and capital appreciation.
The fund invests primarily (at least 60% of its managed assets) in dividend-paying common stocks that the fund believes at the time of investment are eligible to pay dividends that may be eligible for favorable income taxation (Qualified Dividend Income or QDI). The fund also invests to a more limited extent in preferred stocks that are eligible to pay tax-advantaged dividends (5%-15% of managed assets), as well as in senior loans and other debt instruments (15%-25% of managed assets). The fund uses leverage.
| Current Distribution (Quarterly) (As of 10/1/2010) | $0.2300 |
| Monthly Equivalent Distribution | $0.0767 |
| Avg. Earnings/Share** ( As of 7/31/2010) | $0.0273 |
| Annualized 1 Year Total Return on NAV (As of 8/31/2010) | 6.62% |
| Annualized Distribution Rate on NAV †† | 8.29% |
| Annualized Since Inception Total Return on NAV (As of 8/31/2010) | -1.01% |
| Total % of Portfolio Leveraged (As of 7/30/2010) | 25.18% |
| Average Cost of Leverage(13 weeks) (As of 7/30/2010) | 1.56% |
- The Nuveen Tax-Advantaged Total Return Strategy fund seeks to achieve a high level of after-tax total return consisting primarily of tax-advantaged dividend income and attractive capital appreciation.
- In pursuit of this objective, the fund invests a substantial majority of its assets in common and preferred stocks whose dividends qualify for reduced income tax treatment. (Qualified Dividend Income, or QDI, treatment)
- The fund also invests a portion of its assets in senior loans to generate additional income and help mitigate the potential net asset value and income volatility of the fund’s leverage structure due to changes in long-term and short-term interest rates.
| Closing Share Price (As of 9/1/2010) | $10.79 |
| Closing NAV per Share (As of 9/1/2010) | $11.10 |
| Premium / Discount | -2.79% |
| Current Distribution Rate (Market price)†† | 8.53% |
| Distribution Amount (Quarterly) | $0.2300 |
| Total Managed Assets | $208,860,084 |
| Common Shares | |
|---|---|
| Total Common Net Assets | $156,260,084 |
| Shares Outstanding | 13,878,567 |
| Avg Daily Volume (in shares) | 44,590 |
| Dollar | Percent | |
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| Total Structural Leverage | $52,600,000 | 25.18% |
| Effective Leverage | $52,600,000 | 25.18% |
| Asset Coverage 1 | More Information |
| CUSIP | 67090H102 |
| NAV Ticker | XJTAX |
| Inception Date | 1/27/2004 |
| Inception NAV | $19.10 |
| Inception Share Price | $20.00 |
| # of Holdings | 117 |
| % Foreign Holdings ‡ | 17.77% |
| % Large, Mid, Small Cap † | 90.1%,7.1%,2.8% |
| Avg. Maturity (years) * | 15.72 |
| Avg. Leverage Adjusted Duration (years) * | 11.07 |
| Avg. Bond Price * | $91.54 |
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Share Price | 2.55% | 56.47% | -60.54% | -12.99% | 35.55% | 20.00% | 0.91% | -- | -- | -- |
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NAV | -2.95% | 35.50% | -55.29% | -2.38% | 24.19% | 11.93% | 17.18% | -- | -- | -- |
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Share Price | 17.90% | -16.81% | -3.52% | -- | -1.54% |
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NAV | 6.62% | -17.96% | -5.53% | -- | -1.01% |
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| NWQ's approach to investing is based upon a bottom-up, fundamental approach. Our Research team focuses on understanding individual companies as businesses rather than simply as stocks by conducting independent research. While we pride ourselves on taking a long-term approach to investing our clients assets, our process is fluid and dynamic. Our portfolios are constantly monitored using and strictly adhering to our research and analyst driven process. NWQ, with over 20 years of investment experience, manages assets for Nuveen mutual funds and managed accounts, as well as for corporate and multiemployer plans, public entities, endowments, foundations and high net worth individuals. |
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| Founded in 1994 by a team of industry veterans known for their pioneering work in quantitative analysis, Symphony Asset Management LLC is an institutional market leader in alternative and traditional investment strategies. Fundamental to Symphony’s investment philosophy is the concept that both quantitative and qualitative methods have value. The ability to blend these values into a unified, risk-controlled investment process is a skill that sets Symphony apart as an institutional money manager. Prior to implementation, each of our strategies has been thoroughly tested in one of the industry’s most sophisticated research environments. The resulting process is intellectually robust and independent of any one person’s influence or abilities. |
| Total Fund | Common Shares | |
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| Management Fees | 0.68% | 0.91% |
| Interest Expenses | 0.33% | 0.43% |
| Other Expenses | 0.13% | 0.17% |
| Total | 1.14% | 1.51% |
| Issuer | Dollar Value | % of Total Portfolio |
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| Merck and Company I: Equity | $6,486,935 | 3.25% |
| CA Inc: Equity | $6,230,240 | 3.12% |
| Travelers Companies: Equity | $5,890,300 | 2.95% |
| Citigroup Inc: Equity | $5,814,840 | 2.91% |
| Hartford Financial: Equity | $5,390,868 | 2.70% |
| Sanofi-Aventis SA: Equity | $5,374,728 | 2.69% |
| Barrick Gold Corpor: Equity | $5,199,445 | 2.61% |
| MetLife Inc: Equity | $5,169,344 | 2.59% |
| Philip Morris Inter: Equity | $5,014,896 | 2.51% |
| Lockheed Martin Cor: Equity | $4,633,900 | 2.32% |
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.
1 The ratio of a fund's total managed assets to the sum of (the fund's outstanding preferred shares, at par, plus its outstanding borrowings).
¶ Holdings and their ratings may change over time. Ratings shown are generally the highest rating given by one or more national rating agencies. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC/CC/C and D are below-investment grade ratings. Holdings designated “NR” are not rated by a national rating agency, and may be assigned an internal rating by the fund’s investment adviser.
* For the 32.43% 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 67.92% 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.
