Nuveen Investments
Nuveen Multi-Currency Short-Term Government Income Fund (NYSE: JGT)
Shareholder Fund Report | Printable Fact Sheet | Glossary
OBJECTIVE
The investment objective of the fund is to provide an attractive level of current income and total return.
INVESTMENT STRATEGY

The fund will invest directly and indirectly in a portfolio of short-term international government securities. The fund will invest approximately 50% of its assets directly in international short-term government securities that are denominated in non-U.S. currencies and will not be currency hedged. Indirect investments in international non-U.S. government securities are made by purchasing forward currency contracts and other derivative instruments that offer exposure to the returns of short-term international (non-U.S.) government securities. These contracts are collateralized by direct investments in U.S. cash equivalents, including U.S. government debt and agency paper. This strategy may create the economic effect of financial leverage. The portfolio team will monitor and adjust investments using a propriety risk reduction methodology.

HIGHLIGHTS
  • attractive distributions from current income and potential total return
  • low average portfolio duration (less than 2 years, including effective leverage)
  • potential for additional total return when the U.S. dollar is weakening relative to the currencies associated with the fund’s international debt investments
  • portfolio diversification potential / low historical correlation with U.S. stocks and bonds
  • potential for some tax-advantaged returns, as forward currency contracts currently receive 60% long-term capital gains / 40% short-term capital gains tax treatment
DAILY PRICING
Closing Share Price (As of 9/1/2010)$14.35
Closing NAV per Share (As of 9/1/2010)$15.58
Premium / Discount-7.89%
Current Distribution Rate (Market price)††9.67%
Distribution Amount (Quarterly) $0.3470
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
NAM - Taxable Fixed Income
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.Call Risk or Prepayment RiskDuring periods of declining interest rates or for other purposes, issuers may exercise their option to prepay principal earlier than scheduled, forcing the fund to reinvest in lower-yielding securities. This is known as call or prepayment risk. 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.Derivatives Strategy RiskDerivatives are financial instruments whose value changes in response to the changes in underlying investment variables. Derivative securities include, but are not limited to, calls, puts, warrants, swaps, and forwards. The fund's use of derivatives involves risks different from, and possibly greater than, the risks associated with the underlying investments. The derivatives market is largely unregulated. It is possible that developments in the derivatives market, including potential government regulation, could adversely affect the fund's ability to terminate existing contracts or to realize amounts to be received under such contracts.Interest Rate RiskInterest rate risk is the risk that fixed-income securities such as bonds, preferred, convertible and other debt securities will decline in value because of changes in market interest rates. When market interest rates rise, the market value of such securities generally will fall. Consequently, the net asset value and market price of common shares will tend to decline if market interest rates rise. 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.
NOTES

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

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