Nuveen Investments
Nuveen Diversified Dividend and Income Fund (NYSE: JDD)
Shareholder Fund Report | Printable Fact Sheet | Glossary
OBJECTIVE
The fund's investment objectives are high current income and total return.
INVESTMENT STRATEGY

The fund invests primarily in 1) U.S. and foreign dividend-paying common stocks, 2) dividend-paying common stocks issued by real estate companies, 3) emerging markets sovereign debt, and 4) senior secured loans. The fund expects to invest at least 40%, but no more than 70%, of its managed assets in equity security holdings and at least 30%, but no more than 60%,of its managed assets in debt security holdings. Under normal circumstances, the fund's target weighting is approximately 50% equity and 50% debt. The fund uses leverage.
HIGHLIGHTS
  • Balanced equity & debt strategy focused on providing current income & total return potential while reducing US interest rates sensitivity
  • Diversification potential – lower historical correlations among asset classes provides opportunity for more consistent returns
  • Managed by specialists in several non-traditional asset classes, providing retail income-oriented investors access to institutional strategies where active professional management can potentially add value to the fund’s total return
DAILY PRICING
Closing Share Price (As of 9/1/2010)$10.71
Closing NAV per Share (As of 9/1/2010)$11.76
Premium / Discount-8.92%
Current Distribution Rate (Market price)††8.78%
Distribution Amount (Quarterly) $0.2350
Managed Distribution Policy: This fund has adopted a Managed Distribution Policy, designed to provide attractive, quarterly distributions throughout the course of the year. Under this policy, the fund seeks to maintain a stable quarterly distribution amount (in cents per common share), comprised of payments received from portfolio companies, as well as net realized fund portfolio capital gains and, if necessary, a return of capital (representing in some cases net unrealized capital gains). The fund will determine the tax characteristics of all fund distributions after the end of the calendar year and will provide shareholders such information at that time.

View more information about Managed Distributions. View fund performance and current estimates of the fund's distribution components.

PORTFOLIO MANAGEMENT
NWQ Investment Management
Security Capital Research & Mgmt
Symphony Asset Management
Wellington Management Company
ASSET ALLOCATION As of 06/30/2010

Total may not add up to 100% due to rounding.

Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. Past performance is no guarantee of future results.

Fund data is updated daily, monthly, and quarterly, depending on the specific data point. Click HERE for the update schedule.

RISKS
Investment and Market RiskAn investment in the fund's common shares is subject to investment risk, including the possible loss of the entire principal amount that you invest. Your investment in common shares represents an indirect investment in the securities owned by the fund, most of which are traded on a national securities exchange or in the over-the-counter markets. The value of these securities, like other market investments, may move up or down, sometimes rapidly and unpredictably. Your common shares at any point in time may be worth less than your original investment, even after considering the reinvestment of fund dividends and distributions. Closed-end funds also carry price risk, or the risk that shares may trade at prices different from their net asset values.Common Stock RiskAlthough common stocks historically have generated higher average returns than other types of investments, common stocks also have experienced significantly more volatility in those returns. An adverse event, such as an unfavorable earnings report, may depress the value of a particular common stock held by the fund. Also, prices of common stocks are sensitive to general movements in the stock market and a drop in the stock market may depress the price of common stocks held by the fund or to which it has exposure. Credit riskThe risk that a security in the fund's portfolio will decline in price, or fail to make dividend or interest payments when due, because the security's issuer defaults or experiences a decline in its financial status. Securities falling lower in a company's capital structure and/or unrated securities and securities with lower credit ratings are expected to have higher credit risk. See subordination.Illiquid Securities RiskIlliquid securities involve the risk that the securities will not be able to be sold at the time or prices desired by the fund. Illiquid securities are not readily marketable and may include some restricted securities that may be resold to qualified institutional buyers in private transactions but otherwise would not have a regular secondary trading market.Non-Investment Grade or Below-Investment Grade Securities RiskInvestments in, or related to, obligors of below investment grade quality, are commonly referred to as "junk bonds". These investments are predominantly speculative with respect to the issuer's capacity to pay interest and repay principal when due and therefore involve a greater risk of default or decline in market value due to adverse economic and issuer-specific developments. Such investments may be less liquid than investment grade securities.Non-U.S. Securities RiskInvestments in securities of non-U.S. issuers involve special risks not typically associated with domestic investments including: (i) less publicly available information about non-U.S. issuers or markets due to less rigorous disclosure or accounting standards or regulatory practices; (ii) smaller, less liquid and more volatile markets, meaning that an adviser may not be able to sell the fund's portfolio securities at times, in amounts and at prices it considers reasonable; (iii) potential adverse effects of fluctuations in currency exchange rates or controls on the value of the fund's investments; (iv) the economies of non-U.S. countries may grow at slower rates than expected or may experience a downturn or recession; (v) the security issuer's willingness or ability to repay principal and interest due in a timely manner; (vi) the impact of adverse economic, political, social or diplomatic events; (vii) possible seizure, expropriation or nationalization of the company or its assets; (viii) certain non-U.S. countries may impose restrictions on the ability of non-U.S. issuers to make payments of principal and/or interest to investors located outside the U.S., due to blockage of foreign currency exchanges or otherwise; and (ix) withholding and other non-U.S. taxes may not be available for pass-through to the fund's shareholders as a deduction from taxable income or as a credit against their U.S. federal income tax liability. These risks are more pronounced to the extent that the fund invests a significant amount of its assets in companies located in one region. Unanticipated economic, political and social developments may also affect the values of the fund's investments and the fund's availability to make additional investments in such countries. All of these risks are usually much greater in emerging markets countries. Investments in emerging markets may be considered speculative, due to the higher possibility of hyperinflation, currency devaluations, lower trading volumes, and less liquidity. Real Estate RisksThe fund may invest in various types of securities issued by REITs. As a result, your investment in the fund is linked to the performance of the commercial real estate markets. Property values may fall due to increasing vacancies or declining rents resulting from economic, legal, or cultural developments. REIT prices also may drop because of the failure of borrowers to pay their loans or poor management. There are special risks associated with particular sectors of real estate investments such as retail properties, community centers, office and industrial properties, hotel properties, healthcare properties, multifamily properties and self-storage properties.Senior Loan Risk Senior loans in which the fund may invest, both secured and unsecured, may not be rated by a national rating agency at the time of investment, generally will not be registered with the Securities and Exchange Commission and generally will not be listed on a securities exchange. In addition, the amount of public information available with respect to senior loans generally is less extensive than that available for more widely rated, registered and exchange-listed securities. Because the interest rates of senior loans reset frequently, if market interest rates fall, the loans' interest rates will be reset to lower levels, potentially reducing the fund's income. Unrated Investment RiskIn determining whether an unrated security is an appropriate investment for the fund, the manager will seek to determine whether the default probability and financial strength characteristics of the security are comparable to those of issuers of securities rated investment grade quality. The manager will consider information from industry sources, as well as its own quantitative and qualitative analysis, in making such a determination. However, such a determination by the manager is not the equivalent of an investment grade rating by a rating agency.
NOTES

†† Distribution rates represent the latest declared regular distribution, annualized, relative to the most recent daily market price and NAV.

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