Nuveen Diversified Commodity Fund Adopts Share Repurchase Program
December 21 2011 - 5:03PM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions, high-net-worth and affluent investors,
today announced that the Nuveen Diversified Commodity Fund (NYSE
AMEX:CFD), has approved an open-market share repurchase program.
Effective immediately, the fund may repurchase an aggregate of up
to 10 percent of its outstanding common shares (approximately
920,000 shares) in open-market transactions at fund management’s
discretion.
The fund is designed for investors seeking to generate higher
risk-adjusted total return than leading commodity market
benchmarks. The fund is managed by Nuveen Commodities Asset
Management, LLC, a registered commodity pool operator and commodity
trading advisor with the Commodity Futures Trading Commission.
Nuveen Investments provides high quality investment services
designed to help secure the long-term goals of institutional and
individual 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—Nuveen Asset Management, NWQ, Santa Barbara, Symphony,
Tradewinds and Winslow Capital. In total, Nuveen Investments
managed $207 billion as of October 31, 2011. For more information,
please visit the Nuveen Investments website at www.nuveen.com.
An investment in the Fund’s shares is subject to investment
risk, including the possible loss of the entire amount that you
invest.
Investments in commodity futures and forward contracts and
options on commodity futures and forward contracts have a high
degree of price variability and are subject to rapid and
substantial price changes. The Fund could incur significant losses
on its commodity investments.
Unlike other Nuveen-sponsored funds, the Fund is a commodity
pool. It is not a mutual fund, a closed-end fund or any other type
of “investment company” within the meaning of the Investment
Company Act of 1940 (the “1940 Act”), and therefore is not subject
to regulation thereunder nor afforded the protections of the 1940
Act. As such, the Fund’s board does not have the scope of authority
mandated to a board under the 1940 Act.
Shareholders have no rights to participate in the Fund’s
management other than the right in certain circumstances to remove
or replace Nuveen Commodities Asset Management, LLC, the Fund’s
manager. The Fund’s board has very limited powers (specifically, to
serve as the audit and nominating committees, and to terminate the
manager for cause under specified circumstances). The board
therefore does not have the control of the management and operation
of the Fund that would be typical of the board of directors of a
corporation. Therefore, Fund shareholders will have to rely on the
judgment of the manager to manage the Fund.
Nuveen Diversified Commodity Fund Common Units of Beneficial Interest (AMEX:CFD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Nuveen Diversified Commodity Fund Common Units of Beneficial Interest (AMEX:CFD)
Historical Stock Chart
From Jul 2023 to Jul 2024