|
Nuveen Closed-End Funds can help you meet a wide range of investment goals, including:
-
meet current obligations with dependable, monthly or quarterly cash flow,
-
potential to achieve attractive, long-term total returns,
-
portfolio diversification
Some significant features and services include:
-
Monthly/Quarterly Dividends or Distributions
All Nuveen Closed-End Funds pay
dividends/distributions directly to you or to your brokerage or bank accounts.
You can use your dividends/distributions
to buy additional fund shares automatically, compounding your investment and
providing potentially more income in the future.
You can purchase or sell common shares daily at
their current price on the New York or American Stock Exchange, in an active
secondary market. Like most other investments, share prices will fluctuate with
the market and at the time of sale may be worth more or less than either the
original purchase price or the current net asset value.
Investing in Nuveen Closed-End Funds carries certain risks. These include, but
are not limited to:
-
Investment Risk - An investment in common shares is subject to investment risk,
including possible loss of principal.
-
Interest Rate Risk - Prices of bonds tend to fall as interest rates rise and
rise as interest rates fall. Bonds with longer maturities tend to fluctuate
more in price in response to such changes. Most Nuveen Municipal Bond Funds
tend to invest in longer term bonds, which means that their net asset values
will fluctuate more in response to changes in interest rates than a Fund
investing in shorter-term securities.
-
Credit Risk - Credit risk refers to an issuer 's ability to make payments of
principal and interest when due. An interruption in the timely payment of
principal and interest may adversely affecting a bond fund 's net asset value
and ability to pay dividends.
-
Price Risk - The shares of Closed-End Funds often trade at discount from their
net asset value, and at the time of sale may be trading on the stock exchange
at prices that are more or less than the purchase price or net asset value.
| |
 |
|
Easy Liquidity
You can purchase or sell common shares daily at their current price on the New
York or American Stock Exchange, in an active secondary market. Like most other
investments, share prices will fluctuate with the market and at the time of
sale may be worth more or less than either the original price or the current
net asset value.
Teaming With Your Financial Advisor
Nuveen Closed-End Funds are offered only through registered financial advisors
- professionals with the experience to understand your investment needs and
objectives, and the expertise to select the fund that best fits your return
objectives and expectations, investment time horizon, and risk preferences.
The net asset value per share is the market value of your investment's total
assets less liabilities, divided by the total number of shares outstanding. The
net asset value of your shares will be determined by the Custodian, as of
4:00pm Eastern time every day the New York Stock Exchange is open trading, or
at such other times as the advisor deems appropriate.
Monthly/Quarterly Dividends or Distributions
All Nuveen Closed-End Funds pay monthly or quarterly dividends or distributions directly to you
or to your brokerage or bank accounts.
Taxable Funds:
The goal of a fund's managed distribution program is to provide shareholders relatively consistent and predictable cash flow by
systematically converting its expected long-term return potential into regular distributions. As a result, regular distributions
throughout the year may include realized and unrealized capital gains, along with net investment income,
and may from time to time also include a return of capital.
For more information about managed distributions, click HERE.
National and State Options
All Nuveen Municipal Closed-End Funds pay dividends free from regular federal
income taxes. Our state-specific funds can provide residents of those states
with income free from state and, in some cases, local income taxes as well.
Income may be subject to the federal alternative minimum tax. Capital gains, if
any, are subject to capital gains taxes. Nuveen offers you a wide choice of
national Municipal Closed-End Funds to choose from. We also offer funds for the
following states:
| Arizona |
Massachusetts |
North Carolina |
| California |
Michigan |
Ohio |
| Connecticut |
Missouri |
Pennsylvania |
| Florida |
New Jersey |
Texas |
| Georgia |
New York |
Virginia |
| Maryland |
|
|
Shares of your Fund or Portfolio are listed on a national stock exchange. The
market value of your shares is published daily in the financial listings of
most major newspapers, or can be obtained from your financial advisor or by
calling Nuveen's automated 24-hour Information Service at (800)682-2934. Since
the market value of shares is determined by factors including relative supply
and demand of shares on the market, general market and economic conditions, and
other factors beyond our control, there is no way to predict whether shares
will trade at, above or below their net asset value.
Discount is the amount (stated in dollars or a percent) by which the selling or
purchase price of a security is less than its face amount. Premium is the
amount by which a security’s market price exceeds its par value.
| |
|
|
A method to potentially generate a higher level of income. Here's how leverage
works for Nuveen's Closed-End Funds. A fund issues preferred shares that pay
generally lower short-term rates to investors seeking short-term liquidity. The
proceeds are used to buy additional long-term securities. Common shareholders
may earn extra income from the difference between the rates earned on the
fund's portfolio and the short-term rates paid to preferred shareholders. As
long as short-term yields are lower than those for securities in the portfolio,
the income received by common shareholders of leveraged funds will be higher
than it would be if the funds were unleveraged. At the same time, the net asset
value per common share will be more volatile than those of comparable
unleveraged funds since the increases or decreases in the total portfolio value
are all attributed to the common shares.
|