Expenses for Class A, B, C and I shares are actual for the most recent fiscal year
unless indicated otherwise. Class R3 expenses are estimated for the most recent
fiscal year.
For the Nuveen All-American Municipal Bond Fund, Nuveen High Yield Municipal Bond
Fund, Nuveen Insured Municipal Bond Fund, Nuveen Intermediate Duration Municipal
Bond Fund and Nuveen Limited Term Municipal Bond Fund, the net expense ratio excludes
credits earned on the Funds’ cash on deposit with the custodian bank and interest
on self-deposited inverse floaters held by the Funds, but includes interest expense
on borrowings, if any.
For the Nuveen California Municipal Bond Fund, Nuveen California High Yield Municipal
Bond Fund, Nuveen Connecticut Municipal Bond Fund, Nuveen Massachusetts Insured
Municipal Bond Fund, Nuveen New Jersey Municipal Bond Fund, Nuveen New York Municipal
Bond Fund and Nuveen New York Insured Municipal Bond Fund the net expense ratio
excludes credits earned on the Funds’ cash on deposit with the custodian bank and
interest on self-directed inverse floaters held by the Funds.
For the Nuveen California Insured Municipal Bond Fund and Nuveen Massachusetts Municipal
Bond Fund the net expense ratio excludes credits earned on the Funds’ cash on deposit
with the custodian bank.
For the Nuveen Arizona Municipal Bond Fund, Nuveen Colorado Municipal Bond Fund,
Nuveen Florida Preference Municipal Bond Fund, Nuveen Georgia Municipal Bond Fund,
Nuveen Kansas Municipal Bond Fund, Nuveen Kentucky Municipal Bond Fund, Nuveen Louisiana
Municipal Bond Fund, Nuveen Maryland Municipal Bond Fund, Nuveen Michigan Municipal
Bond Fund, Nuveen Missouri Municipal Bond Fund, Nuveen New Mexico Municipal Bond
Fund, Nuveen North Carolina Municipal Bond Fund, Nuveen Ohio Municipal Bond Fund,
Nuveen Pennsylvania Municipal Bond Fund, Nuveen Tennessee Municipal Bond Fund, Nuveen
Virginia Municipal Bond Fund and Nuveen Wisconsin Municipal Bond Fund the net expense
ratio excludes credits earned on the Funds’ cash on deposit with the custodian bank
and interest on self-deposited inverse floaters held by the Funds, but includes
interest expense on borrowings, if any.
For the Nuveen Short Duration Bond Fund, Nuveen Multi-Strategy Income Fund and Nuveen
High Yield Bond Fund the net expense ratios shown reflect a contractual commitment
by the funds' investment adviser to reimburse expenses through January 31, 2010.
The net ratio also reflects a custody fee credit from the custodian bank whereby
certain fees and expenses are reduced by credits earned on the funds' cash on deposit
with the bank. There is no guarantee that the fund will earn such credits in the
future. Absent the reimbursement and credit, expenses would be higher and total
returns would be less.
The Net expense ratios shown for the Nuveen Preferred Securities Fund reflect a
contractual commitment by the Fund’s investment adviser to reimburse expenses through
April 30, 2010. The net ratios may also reflect a custodian fee credit from the
custodian bank whereby certain fees and expenses are reduced by credits earned on
the Fund’s cash on deposit with the bank. There is no guarantee that the Fund will
earn such credits in the future. Absent the reimbursement and credit, expenses would
be higher and total returns would be less.
Net expense ratios shown for the Nuveen Winslow Large-Cap Growth Fund are estimated
for the first fiscal year. The net expense ratios reflect a contractual commitment
by the Fund’s investment adviser to waive fees and reimburse expenses through November
30, 2012. Absent the waiver and reimbursement, expenses would be higher and total
returns would be less.
Expense ratios shown for the Nuveen NWQ Multi-Cap Value Fund, Nuveen Tradewinds
Global All-Cap Fund, Nuveen Tradewinds International Value Fund and Nuveen Small-Cap
Value Fund factor in Total Annual Fund Operating Expenses including management fees
and other fees and expenses.
For the Nuveen NWQ Large-Cap Value Fund and Nuveen NWQ Small/Mid-Cap Value Fund
the net expense ratios shown reflect a contractual commitment by the funds' investment
adviser to waive fees and reimburse expenses through October 31, 2010. The Nuveen
NWQ Small/Mid-Cap Value Fund also reflects a custodian fee credit from the custodian
bank whereby certain fees and expenses are reduced by credits earned on the fund’s
cash on deposit with the bank. There is no guarantee that the Fund will earn such
credits in the future. Absent the waiver, reimbursement and credit, expenses would
be higher and total returns would be less.
For the Nuveen Tradewinds Value Opportunities Fund the net expense ratios shown
reflect a custodian fee credit from the custodian bank whereby certain fees and
expenses are reduced by credits earned on the funds' cash on deposit with the bank.
There is no guarantee that the Fund will earn such credits in the future. Absent
the credit, expenses would be higher and total returns would be less.
Net expense ratios shown for the Nuveen Santa Barbara Dividend Growth Fund, Nuveen
Santa Barbara Growth Fund, Nuveen Santa Barbara Growth Opportunities Fund, Nuveen
Symphony All-Cap Core Fund, Nuveen Symphony Large-Cap Value Fund, Nuveen Symphony
Mid-Cap Core Fund and Nuveen Symphony Small-Mid Cap Core Fund reflect a contractual
commitment by the Funds’ investment adviser to waive fees and reimburse expenses
through November 30, 2009. The net ratio also reflects a custodian fee credit from
the custodian bank whereby certain fees and expenses are reduced by credits earned
on the Funds’ cash on deposit with the bank. There is no guarantee that the Funds
will earn such credits in the future. Absent the waiver, reimbursement and credit,
expenses would be higher and total returns would be less.
Net expense ratios shown for the Nuveen Symphony Large-Cap Growth Fund and Nuveen
Tradewinds Global Resources Fund reflect a contractual commitment by the Funds’
investment adviser to waive fees and reimburse expenses through November 30, 2010.
The net ratio also reflects a custodian fee credit from the custodian bank whereby
certain fees and expenses are reduced by credits earned on the Funds’ cash on deposit
with the bank. There is no guarantee that the Funds will earn such credits in the
future. Absent the waiver, reimbursement and credit, expenses would be higher and
total returns would be less.
Net expense ratios shown for the Nuveen Symphony Optimized Alpha Fund are estimated
for the first fiscal year. The net expense ratios reflect a contractual commitment
by the Fund’s investment adviser to waive fees and reimburse expenses through November
30, 2010. Absent the waiver and reimbursement, expenses would be higher and total
returns would be less.
Net expense ratios shown for the Nuveen Enhanced Core Equity Fund and Nuveen Enhanced
Mid-Cap Fund reflect a contractual commitment by the Fund’s investment adviser to
waive fees and reimburse expenses through October 31, 2010. The net ratio also reflects
a custodian fee credit from the custodian bank whereby certain fees and expenses
are reduced by credits earned on the Fund’s cash on deposit with the bank. There
is no guarantee that the Funds will earn such credits in the future. Absent the
waiver, reimbursement and credit, expenses would be higher and total returns would
be less.
The expense ratios shown for the Nuveen Symphony International Equity Fund are estimated
for the first fiscal year. The net expense ratio reflects a contractual commitment
by the fund’s investment adviser to waive fees and reimburse expenses through November
30, 2011. Absent the waiver and reimbursement, expenses would be higher and total
returns would be less.
In addition to its operating expenses, the Nuveen Growth Allocation Fund, Nuveen
Moderate Allocation Fund and Nuveen Conservative Allocation Fund indirectly pays
its pro-rata share of the expenses incurred by the Underlying Funds, which are based
upon each Fund’s actual allocation of its assets to the various Underlying Funds
and the actual expenses of the Underlying Funds. The net expense ratio reflects
a contractual commitment by the Funds’ investment adviser to waive fees and reimburse
expenses through October 31, 2011. Absent the waiver and reimbursement, expenses
would be higher and total returns would be less.