Nuveen Diversified Commodity Fund Announces Shareholder Approval of Proposed ETF Conversion
June 30 2015 - 5:00PM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced that shareholders of the Nuveen Diversified Commodity
Fund (CFD), have approved the plan to convert the fund into
an open-ended exchange-traded fund (ETF). The conversion plan is
also contingent on customary regulatory approvals.
As previously announced, the purpose of the conversion is to
seek a closer alignment between the fund’s share price and net
asset value.
With today’s announcement of shareholder approval, the
conversion of CFD now requires regulatory approval. Assuming
regulatory approval is obtained, the conversion of CFD to an ETF is
expected to be completed in the fourth quarter of 2015. However,
there can be no assurance that such approval will be obtained, or
if obtained, that the conversion will be completed in the
anticipated time frame or will achieve its stated purpose.
CFD is not currently, and after the conversion will not be, a
mutual fund or any other type of investment company within the
meaning of the Investment Company Act of 1940.
Investors planning to purchase shares of CFD prior to year end
should refer to the tax section of the fund’s Information
Statement, review the detailed Tax Q&A located on the fund’s
website, and consult their tax advisors. Investors who buy shares
at a discount to NAV and hold them through year end may be subject
to an acceleration of capital gain recognition. Important
information regarding the fund’s investment strategies and risks is
set forth in the Information Statement available on the fund’s
website.
Investments in shares of the fund are subject to investment
risk, including the possible loss of the entire amount invested.
The fund invest primarily in commodity futures contracts and
options on commodity futures contracts, which 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. The fund is not a mutual fund, closed-end fund, or any
other type of “investment company” within the meaning of the
Investment Company Act of 1940, as amended, and is not subject to
regulation thereunder. For more information about the fund,
including a more complete description of risks, please see the
fund’s website.
This is not a solicitation to buy or sell the fund’s shares. The
fund does not presently offer any new shares for sale; existing
shares trade on the NYSE MKT.
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, LLC, Symphony Asset Management
LLC, NWQ Investment Management Company, LLC, Santa Barbara Asset
Management, LLC, Tradewinds Global Investors, LLC, Winslow Capital
Management, LLC and Gresham Investment Management LLC, all of which
are registered investment advisers and independent investment
subsidiaries of Nuveen Investments, Inc. Nuveen Commodities Asset
Management, LLC ("NCAM") is the manager of the funds. NCAM is
registered as a commodity pool operator ("CPO") with the Commodity
Futures Trading Commission ("CFTC"). Nuveen Investments operates as
a separate subsidiary within TIAA-CREF, which is a leading provider
of retirement and financial services in the academic, research,
medical and cultural fields. In total, Nuveen Investments managed
approximately $233 billion as of March 31, 2015. For more
information, please visit the Nuveen Investments website at
www.nuveen.com.
Forward-Looking Statements
This press release includes forward-looking statements,
including statements concerning the purposes and timing of the
conversion plan, within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, that involve
substantial risks and uncertainties. In some cases, you can
identify forward-looking statements by terminology such as “may,”
“will,” “should,” “expect,” “plan,” “anticipate,” “believe,”
“estimate,” “predict,” “potential” or the negative of these terms
or other comparable terminology. These forward-looking statements
are based on current expectations, estimates and projections and
are subject to a number of risks, uncertainties and other factors,
both known and unknown, that could cause the actual results,
performance, prospects or opportunities of the funds to differ
materially from those expressed in, or implied by, these
forward-looking statements.
You should not place undue reliance on any forward-looking
statements. Except as expressly required by the federal securities
laws or otherwise, the fund undertakes no obligation to publicly
update or revise any forward-looking statements or the risks,
uncertainties or other factors described in this press release, as
a result of new information, future events or changed circumstances
or for any other reason after the date of this press release.
8719-INV-O-06/16
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Nuveen InvestmentsMedia Contact:Kristyna Munoz, (312)
917-8343kristyna.munoz@nuveen.com
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