CHICAGO--(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 Global Income Opportunities Fund (NYSE: JGG) and Nuveen Diversified Currency Opportunities Fund (NYSE: JGT) have approved a proposal to both combine and restructure the funds. As previously announced, JGG and JGT will combine into a single new fund, Nuveen Global High Income Fund (JGH), having a new investment mandate. The combined fund will continue to be managed by Nuveen Asset Management (NAM), and will employ NAM’s global high income investment strategy, which seeks to identify securities from around the world as well as across the capital structure and credit spectrum that offer a high level of current income.
This restructuring seeks to increase demand for the combined fund’s common shares and help the new fund’s shares trade at prices close to Net Asset Value by implementing a more understandable investment mandate within the well-established global high income market segment. Additionally, the larger combined fund is expected to offer enhanced income potential and also to benefit from increased economies of scale and consequently generate ongoing fee and expense savings for shareholders.
Management presently anticipates that the combination of the two existing funds into a single new fund, JGH, will occur in late November. The portfolio management team expects to at least partially migrate the funds’ portfolios toward the new investment mandate during the period leading up to the combination transaction to the extent that there is a market opportunity to do so. The investment policies and limitations of the new investment mandate will take full effect only after the migration of the portfolio to the new mandate is completed.
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 subsidiaries of Nuveen Investments, Inc. Funds distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. In total, Nuveen Investments managed $231 billion as of June 30, 2014. For more information, please visit the Nuveen Investments website at www.nuveen.com.
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