Nuveen Multi-Asset Funds Announce Shareholder Approval of Reorganization Proposal
October 14 2021 - 4:15PM
Business Wire
Shareholders of Nuveen Diversified Dividend and Income Fund
(NYSE: JDD), Nuveen Tax-Advantaged Total Return Strategy Fund
(NYSE: JTA) and Nuveen Tax-Advantaged Dividend Growth Fund (NYSE:
JTD) have approved a proposal to reorganize the funds. JDD, JTA and
JTD will combine into a single new fund, Nuveen Multi-Asset Income
Fund (NMAI), having a new investment mandate. The combined fund
will continue to employ a multi-asset strategy, but will more
dynamically allocate its portfolio with the objective of providing
total return though high current income and capital appreciation.
Subject to the satisfaction of certain customary closing
conditions, the transactions are expected to become effective
before the market opens on 22 November 2021. The funds are
anticipated to begin transitioning their portfolio prior to the
reorganization, with additional portfolio transition occurring
after the reorganization is complete.
Nuveen is a leading sponsor of closed-end funds (CEFs) with $65
billion of assets under management across 62 CEFs as of 30 June
2021. The funds offer exposure to a broad range of asset classes
and are designed for income-focused investors seeking regular
distributions. Nuveen has more than 30 years of experience managing
CEFs.
For more information, please visit Nuveen’s CEF homepage
www.nuveen.com/closed-end-funds.
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive
range of outcome-focused investment solutions designed to secure
the long-term financial goals of institutional and individual
investors. Nuveen has $1.2 trillion in assets under management as
of 30 June 2021 and operations in 27 countries. Its investment
specialists offer deep expertise across a comprehensive range of
traditional and alternative investments through a wide array of
vehicles and customized strategies. For more information, please
visit www.nuveen.com.
Nuveen Securities, LLC, member FINRA and SIPC.
The information contained on the Nuveen website is not a part of
this press release.
FORWARD-LOOKING STATEMENTS
Certain statements made or referenced in this release may be
forward-looking statements. Actual future results or occurrences
may differ significantly from those anticipated in any
forward-looking statements due to numerous factors. These include,
but are not limited to:
- market developments;
- legal and regulatory developments; and
- other additional risks and uncertainties.
Nuveen and the closed-end funds sponsored by Nuveen undertake no
responsibility to update publicly or revise any forward-looking
statements.
EPS-1867470PR-E1021X
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