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Closed-end funds
Closed-end funds are professionally managed and seek to provide attractive, steady distributions to shareholders. Their unique structure enables them to tap into parts of the market that might not otherwise be accessible to you, such as alternatives, and use leverage to potentially boost income over the long-term.
We have expanded our offerings over 35 years with a range of innovations at the forefront of the closed-end fund marketplace, such as adding new strategies, structures, and forms of leverage—all underpinned with education and support.
From educational resources to dedicated product specialists, we aim to make sure our clients are well supported in the secondary market.
1Nuveen, Morningstar Direct as of 31 Mar 2024. Based on total managed assets of closed-end funds.
2Leverage typically magnifies the total return of a fund’s portfolio, whether that return is positive or negative, and creates an opportunity for increased common share net income as well as higher volatility of net asset value, market price, and distributions. There is no assurance that a fund’s leveraging strategy will be successful.
3Closed-end Fund distribution sources may include net investment income, realized gains and/or return of capital. If a fund’s distribution includes anything other than net investment income, the fund provides a 19a notice of the best estimate of its distribution sources at that time. An electronic copy of this notice is also posted under distribution (19A) notices at www.nuveen.com/cef. The amounts and sources of distributions reported in 19(a) Notices are only estimates and should not be relied upon for tax reporting purposes.
Beginning August 19, 2024, the investment adviser of Nuveen Preferred Securities & Income Opportunities Fund (JPI) has committed to waive 50% of the fund's net management fees through August 18, 2025. Absent the waiver, the fund's expenses would be higher and net investment income would be lower.
Visit the CEF resources page and view the distribution (19a) notices section for more information on fund performance and current estimates of the funds' distribution components.
1 Nuveen, Morningstar Direct as of 31 Dec 2022. Based on total managed assets of closed-end funds.
2 Income may be subject to state and local taxes, as well as the federal alternative minimum tax. Capital gains, if any, are subject to capital gains tax.
Past performance is no guarantee of future results. Current performance may be higher or lower than the data shown. Returns assume reinvestment of distributions, and NAV returns are net of fund expenses.
Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested.
The premium/discount is calculated as (most recent price/most recent NAV) -1.
Average duration represents Effective Duration for Non-Leveraged funds and Leveraged-Adjusted Effective Duration for Leveraged Funds. For term definitions and index descriptions, please access the glossary in the footer.
Effective leverage is the fund’s effective economic leverage, and includes both structural leverage and the leverage effects of certain derivative investments in the fund’s portfolio. Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings and the effects of investments in a leveraged Public-Private Investment Partnership are included in Effective Leverage values, in addition to any Structural Leverage.
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