Emerging Markets ADR

1 NAM uses MSCI data to determine country classification. NAM may own securities deemed to be U.S. by MSCI but that NAM deems non-U.S. if one of the following criteria is met: 1) Incorporated and domiciled outside of the U.S. 2) Majority of revenues are outside of the U.S. 3) Majority of assets are outside of the U.S. 4) Primary exchange is outside of the U.S.

A separately managed account (SMA) is a private portfolio of actively managed, individual securities that may be customized to achieve an individual investor's unique objectives.

SMA accounts typically require a minimum investment of $100,000 for equity and asset allocation strategies and $250,000 for fixed income strategies, although the specific minimum account size varies by program and may be subject to change. The manager may waive these minimums based on client type, asset class, pre-existing relationship with client and other factors. For certain accounts, a negotiated minimum annual fee applies. Please consult with your Nuveen Advisor Consultant for applicable minimums.

Check with your financial professional for specific product availability and performance information. This information may change without notice. From time to time, we may close or reopen strategies.

A word on risk

All investments carry a certain degree of risk, including possible loss of principal, and there is no assurance that an investment will provide positive performance over any period of time. Equity investments are subject to market risk or the risk that stocks will decline in response to such factors as adverse company news or industry developments or a general economic decline. Investment in non-U.S. stocks presents risks such as political risk, exchange rate risk, lack of liquidity and inflationary risk, economic change, social unrest, changes in government relations, and different accounting standards. These additional risks may be heightened for securities of issuers located in, or with significant operations in, emerging market countries as such countries may have a higher degree of economic instability, unsettled securities laws and inconsistent regulatory systems. This strategy may invest in American Depositary Receipts (ADRs). ADRs do not eliminate the currency and economic risks for the underlying shares in another country.

Nuveen Asset Management, LLC, is a registered investment adviser and investment specialist of Nuveen, LLC.