CHICAGO--(BUSINESS WIRE)--Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced updates to its closed-end funds’ website. These updates are part of Nuveen’s ongoing efforts to provide investors detailed fund-specific data and timely educational resources related to their closed end fund investments. These latest updates can be accessed via Nuveen’s closed-end funds’ website http://www.nuveen.com/CEF/Default.aspx and include the following:
Enhanced Leverage Data
In additional to data currently provided on Nuveen’s leveraged closed-end funds, more specific information on such topics as regulatory versus effective leverage is now available for the more recent leveraging financing strategies introduced by the funds. These newer strategies include Variable Rate Demand Preferred shares (VRDP), MuniFund Term Preferred shares (MTP) and Variable MuniFund Term Preferred shares (VMTP). Together, these strategies further diversify the universe of tools that Nuveen’s closed-end funds can employ to help enhance a fund’s income and pursue greater total return over time.
Understanding MTP Call Features
Issued by several Nuveen municipal bond closed-end funds, MTP shares feature a time-specific term with the issuing fund having an option to call its MTP shares in advance of their scheduled mandatory term redemption date. To complement Nuveen’s MTP-specific investor brochure and enhance the MTP website, which currently features such information as daily prices and market yields, call dates and Yield to Worst (YTW) calculations have been added for each MTP series. YTW represents the lowest annualized return an investor would earn by holding MTP shares under all currently conceived possible scenarios, including holding the MTP shares to the mandatory redemption date or instead to one of the earlier call dates, with or without premium.
About Closed-End Funds
Closed-end funds are typically designed to provide regular monthly or quarterly distributions to income-oriented investors seeking cash flow and total return opportunity over the long term. Shares of closed-end funds usually trade on a national stock exchange and often trade at a price different from their net asset value. Similar to stocks, closed-end fund share prices will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Investors may learn more about closed-end funds at Nuveen’s closed-end website http://www.nuveen.com/CEF/ and are encouraged to consult their financial advisor before making any investment decisions.
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.