Nuveen Energy MLP Total Return Fund Attracts $500 Million in IPO

Nuveen Investments, a leading global provider of investment services to institutions as well as high-net-worth and affluent investors, today announced it has successfully completed the initial public offering of the Nuveen Energy MLP Total Return Fund. The new closed-end fund’s investment objective is to provide tax-advantaged total return and will begin trading on the New York Stock Exchange (NYSE) today, under the symbol JMF.

The fund raised approximately $508.5 million in its common share offering, assuming full exercise of the underwriters’ option to purchase additional shares, which may or may not occur.

The fund is sponsored by Nuveen Investments, LLC. Nuveen Fund Advisors is the fund’s investment adviser and is responsible for determining the fund’s overall investment strategy. Fiduciary Asset Management, Inc. (FAMCO) is the fund’s subadviser and is responsible for managing the fund’s direct investments in energy MLPs. The lead managers of the common share underwriting syndicate were Wells Fargo Securities, BofA Merrill Lynch, Citi and Morgan Stanley.

Shares of closed-end investment companies, like the fund, usually trade on a national stock exchange. Similar to stocks, the fund’s share price will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value.

Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions, high-net-worth and affluent investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment affiliates—NWQ, Nuveen Asset Management, Santa Barbara, Symphony, Tradewinds and Winslow Capital. In total, Nuveen Investments managed $197 billion as of December 31, 2010. For more information, please visit the Nuveen Investments website at www.nuveen.com.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the fund carefully before investing. For a prospectus which contains this and other information relevant to an investment in the fund, please contact your securities representative or Nuveen Investments, LLC, 333 W. Wacker Drive, Chicago, IL 60606. Investors should read the prospectus carefully before they invest or send money.

This document is not an offer to sell securities and is not soliciting an offer to buy securities in any jurisdiction where the offer or sale is not permitted.

* Includes assets under management acquired from FAF Advisors, Inc. after the close of business on December 31, 2010. These assets are now managed by Nuveen Asset Management LLC, which is the successor firm to the portfolio management business of Nuveen Asset Management, Inc. and the long-term asset management business of FAF Advisors, Inc. following an internal reorganization and Nuveen Investment, Inc.’s acquisition of the long-term asset management business of FAF Advisors, Inc. from U.S. Bank National Association effective December 31, 2010.

Nuveen Energy MLP Total ... (NYSE:JMF)
Historical Stock Chart
From May 2024 to Jun 2024