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 Short Duration bond Fund, Nuveen Multi-Strategy Core Bond Fund and the Nuveen High Yield Bond Fund, the net expense ratios reflect a contractual commitment by the Funds’ investment adviser to waive fees and reimburse expenses through January 31, 2011. Absent the waiver and reimbursement, expenses would be higher and total returns would be less.
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 May 31, 2011. 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 Small-Cap Value Fund, Nuveen Tradewinds Global All-Cap Fund, Nuveen Tradewinds International Value Fund and Nuveen Tradewinds Value Opportunities Fund factor in total annual fund operating expenses including management fees and other fees and expenses. 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 June 30, 2009. The information has been restated to better reflect anticipated expenses of the Funds.
The net expense ratios for the Nuveen NWQ Large-Cap Value Fund reflect a contractual commitment by the Fund’s 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. The Fund’s 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 June 30, 2009. The information has been restated to better reflect anticipated expenses of the Fund.
The net expense ratios for the Nuveen NWQ Small-Mid Cap Value Fund reflect a contractual commitment by the Fund’s 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. The Fund’s operating expenses have been restated to reflect a reduction in management fees and a change in the Fund’s 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 June 30, 2009. The information has been restated to better reflect anticipated expenses of the Fund.
For the Nuveen Multi-Manager Large-Cap Value Fund, Nuveen Enhanced Core Equity Fund and Nuveen Enhanced Mid-Cap Fund the net expense ratios reflect a contractual commitment by the Funds’ investment adviser to waive fees and reimburse expenses through October 31, 2010. Absent the waiver and reimbursement, expenses would be higher and total returns would be less.
Included in the Nuveen Growth Allocation Fund, 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, 2011. Absent the waiver and reimbursement, expenses would be higher and total returns would be less.
For the Nuveen Santa Barbara Growth Fund, Nuveen Santa Barbara Dividend Growth Fund and Nuveen Tradewinds Global Resources Fund the net expense ratios reflect a contractual commitment by the Funds’ 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. 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 July 31, 2009. The information has been restated to better reflect anticipated expenses of the Funds.
For the Nuveen Winslow Large-Cap Growth Fund 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.
For the Nuveen Santa Barbara International Equity Fund 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. The Fund’s 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 July 31, 2009. The information has been restated to better reflect anticipated expenses of the Fund.
For the Nuveen Symphony Large-Cap Value Fund, Nuveen Symphony Large-Cap Growth 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, 2012. 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 July 31, 2009. 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, 2012. 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 July 31, 2009. The information has been restated to better reflect anticipated expenses of the Funds.
The net expense ratios for the Nuveen Tradewinds Emerging Markets Fund reflect 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. The Fund’s 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 period ended July 31, 2009. The information has been restated to better reflect anticipated expenses of the Fund.
The net expense ratios for the Nuveen Tradewinds Global All-Cap Plus Fund reflect 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. The Fund’s operating expenses have been restated to reflect a reduction in management fees and a change in the Fund’s fee waiver and expense reimbursement arrangements, effective as of July 1, 2010, as if such changes had been in effect during the fiscal period ended July 31, 2009. The information has been restated to better reflect anticipated expenses of the Fund.