Fund description
The Fund seeks to generate attractive risk-adjusted returns by primarily investing in the debt and equity tranches of third-party managed collateralized loan obligations (CLOs).
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Fund highlights
- Enhanced yield: The research team’s relative value analysis identifies additional yield potential across below-investment-grade CLO debt securities, which offer higher income vs. comparably rated corporate debt.
- Reduced default risk: Integrated leveraged finance team focuses on the active management of credit risk within CLO debt, which has a historically lower default rate vs. speculative-grade corporates.
- Portfolio diversification: Actively-managed portfolio of CLOs, with historically low correlation vs. core fixed income, will include primary and secondary issues along with exposure across investment managers, CLO vintages and credit quality.
Fund basics
Capital structure
Annual expense ratios
For Class A1 and Class A2 Common Shares, the Fund has adopted a Distribution and Servicing Plan. The Distribution and Servicing Plan permits the Fund to compensate the Distributor for using reasonable efforts to secure purchasers of the Fund's Common Shares, including by providing continuing information and investment services and/or by making payments to certain authorized institutions in connection with the sale of Common Shares or servicing of shareholder accounts. The maximum annual rates at which the distribution and/or servicing fees may be paid under the Distribution and Servicing Plan (calculated as a percentage of the Fund's average daily net assets attributable to the respective common share classes) is 0.75% for Class A1 and 0.50% for Class A2. Please refer to the prospectus for more information about fees and expenses.
Expense ratios are calculated using the prior 12 months of expense data as of the previous quarter-end. The Fund’s adviser has agreed to waive fees and/or reimburse expenses through July 31, 2027 so that the total annual operating expenses of the Fund (excluding distribution and service fees and certain other expenses) do not exceed 1.50% of the average daily managed assets of any class of Fund shares. See the prospectus for details.
Performance
- Average annualized returns
- Calendar year returns
Average annualized returns
Performance data shown represents past performance and does not predict or guarantee future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown. Total returns for a period of less than one year are cumulative. Returns without sales charges would be lower if the sales charges were included. Returns assume reinvestment of dividends and capital gains. Class I and Class A2 shares have no sales charge and may be purchased by specified classes of investors.
On January 10, 2025, all of the assets of a Cayman Islands exempted limited partnership through which a private fund invested (the “Predecessor Fund”) were transferred to the Nuveen Enhanced CLO Income Fund (the “Reorganization”). Information portrayed prior to the date of the Reorganization reflects the Predecessor Fund. The Predecessor Fund commenced investment operations on September 30, 2022. Prior to the date of the Reorganization, Nuveen Enhanced CLO Income Fund had not commenced investment operations. The Predecessor Fund was not registered under the Investment Company Act of 1940, as amended (the “1940 Act”), and therefore was not subject to certain investment restrictions imposed by the 1940 Act on registered investment companies. If the Predecessor Fund had been registered under the 1940 Act, the Predecessor Fund's performance may have been adversely affected. Please see important information on fees and expenses in Nuveen Enhanced CLO Income Fund's current prospectus.
Pricing
Distribution rate
Distributions
Distribution history
For additional details about the Fund’s ordinary income, see the Fund’s Section 19(a) Notice.
*Daily income: Dividend amount declared daily by the fund. Monthly income: Dividend amount is the sum of all daily dividends in a month. Any re-characterization will be reported in shareholders’ 1099-DIV forms after the end of the year. Ordinary income: Income amount may include both Short-Term Capital Gain and market discount. Market Discount is the excess of the stated redemption price of the bond at maturity over the basis of such bond immediately after its acquisition. Funds are required to recognize Short-Term Capital Gain and market discount as ordinary taxable income.
Characteristics
Fund characteristics
Credit quality/tranche type
Ratings shown are given by one of the following national rating agencies: S&P, Moody’s or Fitch. Credit ratings are subject to change. If there are multiple ratings for a security, the lowest rating is used unless ratings are provided by all three agencies, in which case the middle rating is used. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC/CC/C and D are below-investment grade ratings. U.S. government and agency mortgage-backed securities, if owned by the portfolio, are included in the U.S. Treasury/Agency category (included only if applicable). Holdings designated NR are not rated by these national rating agencies and, where applicable, include net derivative positions.
All characteristics as a percentage of the fund's total net assets. Holdings and ratings are subject to change. Totals may not add up to 100% due to rounding.
Top ten portfolio positions
Holdings may vary and are subject to change without notice.
Literature
- Fund literature
- Prospectuses & reports
Featured insights
Spread sectors generally outperformed Treasuries as economic data remained healthy.
Nuveen’s leveraged finance platform is one of the industry’s largest and robust providers of high yield credit, broadly syndicated loans, CLOs and alternative credit strategies.
Himani Trivedi, head of structured credit at Nuveen, shares her thoughts on the current state of the CLO markets and a view of what the coming year holds for CLOs.
Important information on risk
Investing involves risk; loss of principal is possible. Any investment in collateralized loan obligations or other structured vehicles involves significant risks not associated with more conventional investment alternatives. The portfolios described herein are dynamic and may change over time. Use of the investment process tools and techniques described herein is no guarantee of investment success or positive performance. Investing in interval funds involves risk; principal loss is possible. There is no guarantee the Fund's investment objectives will be achieved. Debt or fixed income securities such as those held by the Fund, are subject to market risk, credit risk, interest rate risk, call risk, tax risk, political and economic risk, and income risk. As interest rates rise, bond prices fall. Credit risk refers to an issuers ability to make interest and principal payments when due. While the Fund has no current intention to use leverage for investment purposes as of the date of the current Prospectus, the Fund may use leverage to the extent permitted by the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund may borrow for temporary purposes as permitted by the 1940 Act. Leverage involves the risk that the Fund could lose more than its original investment and also increases the Fund's exposure to volatility, interest rate risk and credit risk. An interval fund is a non-diversified, closed-end management investment company that continuously offers its common shares. An interval fund is not intended to be a complete investment program and, due to the uncertainty inherent in all investments, there can be no assurance that the fund will achieve its investment objectives. An interval fund's performance and the value of its investments will vary in response to changes in interest rates, inflation, the financial condition of a security's issuer, ratings on a security, perceptions of the issuer, and other market factors. Common shares at any point in time may be worth less than your original investment, even after taking into account the reinvestment of fund dividends and distributions. These and other risk considerations are described in more detail on the Fund's web page at www.nuveen.com.
Performance data shown represents past performance and does not predict or guarantee future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown. Total returns for a period of less than one year are cumulative. Returns without sales charges would be lower if the sales charges were included. Returns assume reinvestment of dividends and capital gains. Class I and Class A2 shares have no sales charge and may be purchased by specified classes of investors.
Returns quoted represent past performance which is no guarantee of future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown. Total returns for a period of less than one year are cumulative. Returns without sales charges would be lower if the sales charges were included. Returns assume reinvestment of dividends and capital gains.
Performance assumes the reinvestment of dividends and capital gains. Class A1 shares have a 2.50% maximum sales charge. Class I and Class A2 shares have no sales charge and may be purchased under limited circumstances or by specified classes of investors.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
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Before investing, carefully consider fund investment objectives, risks, charges and expenses. For this and other information that should be read carefully, please request a prospectus from your financial professional or Nuveen at 800.257.8787.
The Fund features portfolio management by Nuveen Asset Management, LLC, an affiliate of Nuveen, LLC.
Nuveen Securities, LLC, member FINRA and SIPC.
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