Investment Strategy
| The investment objective of the fund is to maximize total return by investing in a diversified portfolio of high yield debt securities. |  | | Under normal conditions, the fund will invest at least 80% of its net assets in domestic and foreign corporate high yield debt securities, including zero coupon, payment in-kind and convertible bonds. These securities generally are rated BB or below at the time of purchase. | | | In building the fund's investment portfolio from these individual securities the team seeks to diversify the portfolio's holdings across multiple factors, including individual issuers and industries, to manage the risk associated with a high yield debt strategy. |
Who should invest
Investors Seeking:
| - To earn regular monthly dividends
- Increased income potential and are willing to accept a greater degree of risk
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Fund Basics: Shares
Select Share Class:
A | B† | C | I† | R3
| Fund Symbol | NHYAX |
| Fund Cusip | 67066D887 |
| Inception Date | 12/20/2004 |
| Latest NAV as of 11/20/2009 | $16.51 |
| Latest Monthly Dividend (11/27/2009) | $0.1165 |
| Fund Symbol | NHBYX |
| Fund Cusip | 67066D879 |
| Inception Date | 12/20/2004 |
| Latest NAV as of 11/20/2009 | $16.49 |
| Latest Monthly Dividend (11/27/2009) | $0.1065 |
| Fund Symbol | NHYCX |
| Fund Cusip | 67066D861 |
| Inception Date | 12/20/2004 |
| Latest NAV as of 11/20/2009 | $16.46 |
| Latest Monthly Dividend (11/27/2009) | $0.1065 |
| Fund Symbol | NHYTX |
| Fund Cusip | 67066D796 |
| Inception Date | 8/04/2008 |
| Latest NAV as of 11/20/2009 | $16.49 |
| Latest Monthly Dividend (11/27/2009) | $0.1130 |
| Fund Symbol | NHYRX |
| Fund Cusip | 67066D853 |
| Inception Date | 12/20/2004 |
| Latest NAV as of 11/20/2009 | $16.50 |
| Latest Monthly Dividend (11/27/2009) | $0.1200 |
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A Word On Risk
| An investment in the Fund is subject to certain risks, including Credit risk-the risk that an issuer of a bond will be unable to make interest and principal payments when due. In general, lower rated bonds carry greater credit risk and can be subject to greater price volatility; Interest rate risk--the risk that interest rates will rise, causing bond prices to fall. Foreign and domestic Interest rates may rise or fall by differing amounts and, as a result, the Fund's investment in foreign securities or foreign interest rate swaps may expose the Fund to additional risks; Derivatives risk-the use of which can lead to losses because of adverse movements in the price or value of the underlying asset; and Foreign risk--the risk that foreign securities will be more volatile than U.S. securities due to such factors as adverse economic, currency, political, social or regulatory developments in a country, including government seizure of assets, excessive taxation, limitations on the use or transfer of assets, the lack of liquidity or regulatory controls or differing legal and/or accounting standards. |
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Portfolio Manager
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| Andrew Stenwall joined Nuveen in 2004. Prior to being at Nuveen, he served as the Fixed Income CIO for Banc of America Capital Management. His earlier experience includes tenure with Lazard Freres Asset Management as a senior portfolio manager, Lehman Brothers Global Asset Management also as a senior portfolio manager, and Lehman Brothers as vice president of mortgage portfolio strategies. Andrew began his investment career in 1988 as an analyst with Paine Webber. Andrew earned his MBA from the Anderson Graduate School of Management at UCLA and a bachelor's degree in aeronautical engineering from Rensselaer Polytechnic Institute. | |
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†
Effective May 1, 2008 Class B shares are only issued upon exchange of Class B shares
from another Nuveen Fund or for purposes of dividend reinvestment.
Effective December 31, 2008 the reinstatement privilege for Class B shares
will no longer be available. Effective May 1, 2008, Class R shares were
renamed Class I shares. See the Fund's prospectus for more information.
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