* Former First American Fund.

Net and gross expense ratios are based on the funds' most recent fiscal year end.

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, Nuveen Limited Term Municipal Bond Fund, Nuveen California Municipal Bond Fund, Nuveen California Insured Municipal Bond Fund, Nuveen California High Yield Municipal Bond Fund, Nuveen Connecticut Municipal Bond Fund, Nuveen Massachusetts Municipal Bond Fund, Nuveen Massachusetts Insured Municipal Bond Fund, Nuveen New Jersey Municipal Bond Fund, Nuveen New York Municipal Bond Fund, Nuveen New York Insured Municipal Bond Fund, 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 ratios exclude 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 Preferred Securities Fund, the net expense ratios reflect a contractual commitment by the Fund's investment adviser to waive fees and reimburse expenses through January 31, 2013. Absent the waiver and reimbursement, expenses would be higher and total returns would be less.

For the Nuveen Symphony Credit Opportunities Fund expense ratios are estimated for the Fund's first fiscal year. The net expense ratios reflect a contractual commitment by the Fund's investment adviser to waive fees and reimburse expenses through January 31, 2013. 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 NWQ Large-Cap Value Fund, Nuveen NWQ Small-Cap Value Fund and Nuveen Tradewinds Value Opportunities Fund factor in total annual fund operating expenses including management fees and other fees and expenses.

The expense ratios shown for the Nuveen Santa Barbara Dividend Growth Fund, Nuveen Santa Barbara Growth Fund, Nuveen Tradewinds Global All-Cap Fund and Nuveen Tradewinds International Value Fund factor in total annual fund operating expenses including management fees and other fees and expenses.

For the Nuveen Multi-Manager Large-Cap Value Fund and Nuveen NWQ Small-Mid Cap Value Fund the net expense ratios reflect a contractual commitment by the Funds’ investment adviser to waive fees and reimburse expenses through October 31, 2012. Absent the waiver and reimbursement, expenses would be higher and total returns would be less.

Included in the Nuveen Moderate Allocation Fund and Nuveen Conservative Allocation Fund operating expenses are the expenses the Funds indirectly pay for their pro-rata share of the expenses incurred by the Underlying Funds, which are based upon the Funds' actual allocation of its assets to the various Underlying Funds and the actual expenses of the Underlying Funds. The net expense ratios reflect a contractual commitment by the Funds' investment adviser to waive fees and reimburse expenses through October 31, 2012. Absent the waiver and reimbursement, expenses would be higher and total returns would be less.

For the Nuveen Santa Barbara Global Growth Fund, Nuveen Santa Barbara International Growth Fund, Nuveen Tradewinds Emerging Markets Fund, Nuveen Tradewinds Global All-Cap Plus Fund, Nuveen Tradewinds Global Resources Fund, Nuveen Tradewinds Japan Fund and Nuveen Winslow Large-Cap Growth Fund the net expense ratios reflect a contractual commitment by the Funds' 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.

For the Nuveen Symphony Large-Cap Value Fund, Nuveen Symphony Large-Cap Growth Fund, Nuveen Symphony Optimized Alpha Fund and Nuveen Symphony Small-Mid Cap Core Fund the net expense ratios reflect a contractual commitment by the Funds' investment adviser to waive fees and reimburse expenses through January 31, 2013. Absent the waiver and reimbursement, expenses would be higher and total returns would be less. The Funds' operating expenses have been restated to reflect a reduction in management fees and a change in the Funds' fee waiver and expense reimbursement arrangements, effective as of July 1, 2010, as if such changes had been in effect during the fiscal year ended September 30, 2010. The information has been restated to better reflect anticipated expenses of the Funds.

For the Nuveen Symphony International Equity Fund and Nuveen Symphony Mid-Cap Core Fund the net expense ratios reflect a contractual commitment by the Funds' investment adviser to waive fees and reimburse expenses through January 31, 2013. Absent the waiver and reimbursement, expenses would be higher and total returns would be less. The Funds' operating expenses were restated to reflect a reduction in management fees, effective as of July 1, 2010, as if such reduction had been in effect during the fiscal year ended September 30, 2010. The information has been restated to better reflect anticipated expenses of the Funds.

For the Nuveen Tradewinds Global Flexible Allocation Fund net expense ratios reflect a contractual commitment by the Fund's investment adviser to waive fees and reimburse expenses through November 30, 2013. Absent the waiver and reimbursement, expenses would be higher and total returns would be less.

The net expense ratios for the Nuveen California Tax Free Municipal Bond Fund reflects a contractual commitment by the Fund's investment adviser to waive fees and reimburse expenses through June 30, 2012, to the extent required to maintain net expenses, not including acquired Fund fees and expenses, at certain levels. However, because the Fund's net expense ratio includes acquired Fund fees and expenses, the Fund's net expense ratio at any point in time may differ from the ratio presented. Expense ratios are based on the Fund's most recent fiscal year end and have been restated to reflect current contractual fees and estimated other expenses.

Expense ratios for the Nuveen Core Bond Fund, Nuveen High Income Bond Fund, Nuveen Minnesota Intermediate Municipal Bond Fund, Nuveen Minnesota Municipal Bond Fund, Nuveen Oregon Intermediate Municipal Bond Fund, Nuveen Intermediate Tax Free Fund, Nuveen Short Term Bond Fund, Nuveen Short Term Municipal Bond Fund and Nuveen Tax Free Fund are based on the Funds’ most recent fiscal period, and have been restated to reflect current contractual fees and estimated other expenses.

The net expense ratios for the Nuveen Inflation Protected Securities Fund, Nuveen Intermediate Term Bond Fund, Nuveen Intermediate Government Bond Fund and Nuveen Total Return Bond Fund reflect a contractual commitment by the Funds’ investment adviser to waive fees and reimburse expenses through October 31, 2013. Absent the waiver and reimbursement, expenses would be higher and total returns would be less. Expenses have been restated to reflect current contractual fees and estimated other expenses.

The net expense ratios for the Nuveen Colorado Tax Free Fund, Nuveen Missouri Tax Free Fund, Nuveen Nebraska Municipal Bond Fund and Nuveen Ohio Tax Free Fund reflect a contractual commitment by the Funds’ investment adviser to waive fees and reimburse expenses through March 31, 2013, to the extent required to maintain net expenses, not including acquired fund fees and expenses, at certain levels. However, because the Funds’ net expense ratio includes acquired fund fees and expenses, the Funds’ net expense ratio at any point in time may differ from the ratio presented. Expenses have been restated to reflect current contractual fees and estimated other expenses.

The net expense ratios for the Nuveen Strategy Aggressive Growth Allocation Fund, Nuveen Strategy Balanced Allocation Fund, Nuveen Strategy Conservative Allocation Fund and Nuveen Strategy Growth Allocation Fund reflect a contractual commitment by the Funds’ investment adviser to waive fees and reimburse expenses through January 31, 2013, to the extent required to maintain net expenses, not including acquired fund fees and expenses, at certain levels. However, because the Funds’ net expense ratio includes acquired fund fees and expenses, the Funds’ net expense ratio at any point in time may differ from the ratio presented. Expenses have been restated to reflect current contractual fees and estimated other expenses.

The net expense ratios for the following Funds reflects a contractual commitment by the Fund's investment adviser to waive fees and reimburse expenses through February 29, 2012, to the extent required to maintain net expenses, not including acquired Fund fees and expenses, at certain levels. However, because the Fund's net expense ratio includes acquired Fund fees and expenses, the Fund's net expense ratio at any point in time may differ from the ratio presented. Expense ratios are based on the Fund's most recent fiscal year end, and have been restated to reflect current contractual fees and the payment by the Fund of certain networking and sub-transfer agency fees previously paid by the Fund's administrator.

• Equity Index Fund
• Mid Cap Select Fund
• Small Cap Index Fund
• Tactical Market Opportunities

The net expense ratios for the following Funds reflects a contractual commitment by the Fund's investment adviser to waive fees and reimburse expenses through February 29, 2012, to the extent required to maintain net expenses, not including acquired fund fees and expenses, at certain levels. However, because the Fund's net expense ratio includes acquired fund fees and expenses, the Fund's net expense ratio at any point in time may differ from the ratio presented. Expense ratios are based on the Fund's most recent fiscal year end and have been restated to reflect current contractual fees and the payment by the Fund of certain networking and sub-transfer agency fees previously paid by the Fund's administrator, and a decrease in the Fund's net assets after the fiscal year end due to certain redemptions by an affiliate.

• Global Infrastructure Fund
• International Fund
• International Select Fund
• Mid Cap Index Fund
• Mid Cap Value
• Quantitative Enhanced Core Equity Fund
• Small Cap Growth Opportunities Fund
• Small Cap Value

Expense ratios for the following Funds are based on the Fund's most recent fiscal year end and have been restated to reflect current contractual fees and the payment by the Fund of certain networking and sub-transfer agency fees previously paid by the Fund's administrator, and a decrease in the Fund's net assets after the fiscal year end due to certain redemptions by an affiliate.

• Mid Cap Growth Opportunities
• Small Cap Select
• Large Cap Growth Opportunities
• Real Estate
• Equity Income
• Large Cap Select Fund
• Large Cap Value Fund