Nuveen Investments
Nuveen Multi-Strategy Income and Growth Fund (NYSE: JPC)
Shareholder Fund Report | Printable Fact Sheet | Glossary
OBJECTIVE
The fund's primary investment objective is high current income; and its secondary objective is total return.
INVESTMENT STRATEGY

The fund invests in assets to maintain its strategic exposure target of approximately 70% in income-oriented debt securities (preferred securities and fixed- and floating-rate debt including high yield debt and senior loans), and 30% in equities and equity-like securities (convertibles and domestic and international equities). The exact portfolio composition will vary over time as a result of market changes as well as Nuveen’s view of the portfolio composition that best enables the fund to achieve its investment objectives consistent with a strategic 70%/30% income/equity mix. The fund uses leverage.
HIGHLIGHTS
  • Attractive distributions over time from a diversified portfolio of income-oriented securities and equities.
  • A diversified combination of asset classes with historically low correlation (preferred securities, senior loans, domestic and international equities) with a 70% / 30% strategic bias towards income-oriented debt investments.
  • The fund’s manager has asset allocation flexibility to capitalize on market opportunities, as well as to enhance each fund’s capital appreciation and inflation protection potential through direct and indirect equity exposure.
DAILY PRICING
Closing Share Price (As of 9/1/2010)$8.10
Closing NAV per Share (As of 9/1/2010)$9.08
Premium / Discount-10.79%
Current Distribution Rate (Market price)††8.40%
Distribution Amount (Quarterly) $0.1700
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
Spectrum Asset Management
Symphony Asset Management
Tradewinds Global Investors
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. 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.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-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. Preferred Stock RiskPreferred stocks are subordinated to bonds and other debt instruments in a company's capital structure in terms of priority to corporate income and liquidation payments, and therefore will be subject to greater credit risk than those debt instruments. Certain preferred stocks contain provisions that allow an issuer under certain circumstances to skip distributions (in the case of "non-cumulative" preferred stocks) or defer distributions (in the case of "cumulative" preferred stocks). If the fund owns a preferred stock that is deferring its distributions, the fund may be required to report income for tax purposes while it is not receiving income from that stock. Preferred stocks typically do not provide any voting rights, except in cases when dividends are in arrears for a specified number of periods.
NOTES

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

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