Closed-End Funds

CEF

Nuveen Energy MLP Total Return Fund (NYSE: JMF)

Objective

The Fund’s investment objective is to provide tax-advantaged total return.

Investment Strategy

The fund invests primarily in a portfolio of master limited partnerships (“MLPs”) operating in the energy sector. The fund may use various hedging techniques in seeking to enhance its risk-adjusted total return over the longer term. The fund uses leverage.

Highlights

  • Actively managed portfolio of energy MLPs, an important and rapidly growing asset class
  • Tax-advantaged quarterly distributions with simplified tax reporting (Form 1099, not K-1s)
  • MLPs offer a potential hedge against inflation, as well as the potential for capital appreciation and increasing current income.
  • Advisory Research Investment Management has been managing MLP portfolios since 1995, the longest track record in the industry. Their specialized investment process starts top-down to identify broad investment themes and trends in this dramatically growing market, then concludes with rigorous bottom-up analysis seeking to identify high quality, high value investment opportunities.

Daily Pricing

Closing Share Price (As of 10/30/2014)$20.83
Closing NAV per Share (As of 10/30/2014)$22.19
Premium / Discount**-6.13%
Current Distribution Rate (Market price)††6.28%
Distribution Amount (Quarterly)†† $0.3270
Distribution Type Cash Flow

Portfolio Management 

Asset Allocation

As of 09/30/2014

RISKS
The Fund is designed as a long-term investment and not as a trading vehicle. The Fund is not intended to be a complete investment program. Investors should carefully review and consider the risks listed below before investing.

Investment and Market Risk: An investment in 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 corporate securities owned by the Fund, which generally trade in the over-the-counter markets. Your common shares at any point in time may be worth less than your original investment, even after taking into account the reinvestment of Fund dividends and distributions.Price Risk: Shares of closed-end investment companies like the Fund frequently trade at a discount to their NAV. Your common shares at any point in time may be worth less than your original investment, even after taking into account the reinvestment of Fund dividends and distributions.Leverage Risk: Each Fund’s use of leverage creates the possibility of higher volatility for the Fund’s per share NAV, market price, distributions and returns. There is no assurance that a Fund’s leveraging strategy will be successful.Tax Risk: The Fund’s investment program and the tax treatment of Fund distributions may be affected by IRS interpretations of the Internal Revenue Code and future changes in tax laws and regulations, including changes resulting from the “sunset” provisions that may apply to the favorable tax treatment of tax-advantaged dividends. There can be no assurance as to the percentage of a Fund’s distributions that will qualify as tax-advantaged dividends.Energy Sector Risk: Because the Funds invest primarily in energy sector MLPs, concentration in this sector may present more risks than if the Funds were invested in numerous sectors of the economy. MLP Units Risk: An investment in MLP units involves risks that differ from a similar investment in equity securities. Holders of MLP units have the rights typically afforded to limited partners in a limited partnership. As compared to common stockholders of a corporation, holders of MLP units have more limited control and limited rights to vote on matters affecting the partnership.Non-Diversification and Concentration Risk: The Funds are able to invest a greater portion of their assets in obligations of a single issuer than a “diversified” fund. A nondiversified fund, or one with a portfolio concentrated in a particular industry or geographical region, may be affected disproportionately by the performance of a single security or relatively few securities as a result of adverse economic, regulatory, or market occurrences.
NOTES

** The premium/discount is calculated as (most recent price/most recent NAV) -1.

†† Cash-flow Based Distribution

Potential distribution sources include net investment income, realized gains and/or return of capital. This fund uses a cash-flow based distribution approach, designed to provide attractive regular distributions throughout the year, in amounts based on the fund’s net cash flow received from portfolio investments. Although the amounts of regular fund distributions are not intended to reflect expected portfolio appreciation, the fund invests in securities (e.g. REITs or MLPs) which have cash flow that, at least in part, ultimately may be treated as something other than net investment income for tax purposes. Return of capital is a non-taxable distribution of a portion of the investment’s capital; capital consists of the original investment plus any unrealized gains, life-to-date.

If a distribution includes anything other than net investment income, the fund provides a notice of the best estimate of its distribution sources at that time. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’ 1099-DIV forms after the end of the year.

Distribution rates represent the latest declared regular distribution, annualized, relative to the most recent market price and NAV. Special distributions, including special capital gains distributions, are not included in the calculation.

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

Frequency Data included
Daily all funds: Market price, NAV, premium/discount, annualized distribution rates on market price and NAV
Monthly all funds: Assets, leverage, expenses, total return performance, distribution amounts, earnings & UNII
Monthly certain funds: Municipal bond fund holdings and portfolio information
Monthly certain funds, with 1-month lag: Taxable fund holdings and portfolio information except JCE, NSL, JFR and JRO; and % AMT for municipal bond funds
Quarterly certain funds: JCE, NSL, JFR, and JRO holdings and portfolio information, tax characteristic estimates for distributions from funds paying quarterly distributions
Quarterly all funds: SEC filings (annual shareholder report, semi-annual shareholder report, or 10-Q filing)
Not registered?

Register for access to investment team commentary, detailed portfolio information, and other advisor resources. For instant access, register now.

Your Contacts

Our goal is to deliver lasting value to our clients. For assistance, please call or email our advisor service team or contact your personal Nuveen Service Team.

Log in to nuveen.com to access your personal Nuveen Service Team.

Financial Advisors

800-752-8700
Email

Registered Investment Advisors

800-558-4487

Account Access

For more information on Mutual Fund Vision, FAN Mail, or accessing client accounts, please visit our advisor account access page.

Advisor Access

Investor Access