Nuveen Commodity Funds Provide Update on Proposed Conversion to ETF Structure
September 09 2016 - 5:43PM
Business Wire
SEC Extends Review Period for Additional 90 Days
Nuveen, an operating division of TIAA Global Asset Management,
today announced that the Securities and Exchange Commission (SEC)
has extended the review period for the proposed new exchange rule
pursuant to which shares of Nuveen Diversified Commodity Fund
(NYSE:CFD) and Nuveen Long/Short Commodity Total Return Fund
(NYSE:CTF) would be able to trade upon conversion of each
respective fund into an exchange-traded fund (ETF). The proposed
rule was published in the Federal Register on June 13, 2016, and
was subject to an initial review period of 45 days. The SEC had
previously extended the review period for the proposed rule for an
additional 45 days, and today the SEC further extended the review
period for an additional 90 days. The SEC may take action on the
proposed rule at any time during this extended review period, and
may further extend the review period for up to an additional 60
days. If the SEC approves the proposed rule, the funds intend to
complete their conversion to ETFs as soon as practicable
thereafter. There can be no assurance that approval will be
obtained, or if obtained, that the conversion will be completed in
the anticipated time frame. The funds will provide an update on the
expected timing of the conversion and other related information
when it becomes available. The funds are not currently, and after
the conversion will not be, mutual funds or any other type of
investment company within the meaning of the Investment Company Act
of 1940.
A registration statement relating to the securities each fund
intends to issue following the conversion has been filed with the
SEC but has not yet become effective. These securities may not be
sold nor may offers to buy be accepted prior to the time the
registration statement of each fund becomes effective.
Shareholders are able to obtain, free of charge, copies of the
registration statements referred to above and any prospectus
included therein, as well as any other documents filed by the funds
with the SEC at the SEC’s website at www.sec.gov, by calling Nuveen
Commodities Asset Management, LLC (NCAM) at 877-827-5920 or by
writing to the funds at 333 W. Wacker Drive, Chicago, Illinois,
60606.
Investments in shares of the funds are subject to investment
risk, including the possible loss of the entire amount invested.
The funds currently 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 funds could incur significant losses
on their commodity investments. The funds are not currently, and
after the conversion will not be, mutual funds or any other type of
“investment company” within the meaning of the Investment Company
Act of 1940, as amended, and are not subject to regulation
thereunder. For more information about the funds, including a more
complete description of risks, please see the funds’ website, which
is publicly available at no charge. The information and other
content contained on or linked from the funds’ website is not
incorporated by reference in each fund’s prospectus and should not
be considered a part of each fund’s prospectus.
This is not a solicitation to buy or sell the funds’ shares, nor
is it a solicitation of any proxy. The funds do not presently offer
any new shares for sale; existing shares trade on the NYSE MKT.
NCAM, a wholly-owned subsidiary of Nuveen, is the manager of the
funds and is registered as a commodity pool operator with the
Commodity Futures Trading Commission. Nuveen provides investment
solutions designed to help secure the long-term goals of individual
investors and the financial advisors who serve them. Through the
expertise and capabilities of TIAA Global Asset Management’s
high-caliber investment managers, Nuveen is committed to providing
world-class consultative services and advice that align with client
needs. Nuveen is an operating division of TIAA Global Asset
Management. For more information, please visit the Nuveen’s website
at www.nuveen.com.
19058-INV-O-09/17
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NuveenMedia Contact:Kristyna Munoz(312)
917-8343KRISTYNA.MUNOZ@NUVEEN.COM
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