Closed-End Funds
Product guide 2020
4Q
Why closed-end funds?
INCOME POTENTIAL | DIVERSIFICATION | GREATER FLEXIBILITY |
Designed for regular | Via a broader investable | Through fully-invested |
cash flow | universe | portfolios |
2
Nuveen:
a market leader in closed-end funds
Closed-end funds have long been valued for the potential to provide attractive income. A trusted closed-end fund provider for more than thirty years, Nuveen builds on more than a century of industry leadership to offer financial professionals and investors dedicated client service with a legacy of integrity and innovation.
Market leadership
A pioneer in long-term income and cash flow solutions, we are the largest provider of closed-end funds today, with innovative products across traditional and alternative asset classes and strategies.
Focused expertise
Through active fund and distribution management from Nuveen and the expertise and capabilities of its high-caliber investment managers, we are committed to providing world- class investment solutions that align with client needs.
Deep commitment
From our educational resources, robust communications, and industry-leadingclosed-end fund websites to our skilled and dedicated support team, we provide comprehensive support for financial professionals and investors in pursuit of long-term, lasting value for investors and the advisors who serve them.
Learn more about adding regular income potential
to your portfolio with Nuveen's closed-end funds.
INVESTORS:
Contact your Financial Professional or call Nuveen at 800.257.8787.
FINANCIAL PROFESSIONALS:
Contact your Nuveen Advisor Consultant Team at 800.752.8700 or our CEF specialist at CEFSpecialist@nuveen.com.
Visit us on the web at nuveen.com/cef.
NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE | CLOSED -END FU NDS PRODUCT GUIDE | 4Q 2020 3 |
1987
Nuveen launches first closed-end fund, NUV, which was the largest IPO to date on the NYSE
1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 |
First launch dates '87
'99
Nuveen has expanded closed-end fund offerings over three decades
Since launching its first closed-end fund in 1987, Nuveen has led the way, adding asset strategies, new structures, forms of leverage, education and support - a range of innovations at the forefront of the closed-end fund marketplace.
4
2001
CEFConnect.com launched
Symphony Asset | |||||||||||||||||||||||||||||||
Management LLC | |||||||||||||||||||||||||||||||
acquired | 2005 | ||||||||||||||||||||||||||||||
Santa Barbara Asset | 2014 | ||||||||||||||||||||||||||||||
2002 | Management, | 2008 | 2011 | ||||||||||||||||||||||||||||
Acquired by TIAA, | |||||||||||||||||||||||||||||||
LLC acquired | |||||||||||||||||||||||||||||||
NWQ Investment | Failure of | All $15.4 billion | creating one of the industry's | ||||||||||||||||||||||||||||
Management Co., | auction rate | of ARPs | largest and most diversified | ||||||||||||||||||||||||||||
LLC acquired | preferreds (ARPs) | refinanced | investment organizations | ||||||||||||||||||||||||||||
2001 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||||
2002 |
ASSET CLASSES
Municipal bonds | |
Loans | |
'01 | Real estate |
'02 | Preferred and |
income securities | |
'03 | Multi-asset |
'03 | Value equity |
'03 | High yield |
'04 | Equity covered call |
'06 | Global debt |
'06 | Global equity |
'07 | equity |
Dividend growth | |
'09 | Mortgage-backed |
securities | |
'10 | Taxable municipals |
'11 | Master limited |
partnerships (MLPs) | |
'12 | Real assets |
'15 | Target term |
'17 | debtEmerging markets |
CLOSED -END FU NDS PRODUCT GUIDE | 4q 2020 5
Choose Nuveen's closed-end funds for income potential and innovation
Offerings as of 31 Dec 2020
Municipal fixed income
National1
● | NAD | Nuveen Quality Municipal Income Fund |
● ● | NDMO | Nuveen Dynamic Municipal Opportunities Fund |
● ● | NEA | Nuveen AMT-Free Quality Municipal Income Fund |
● | NEV | Nuveen Enhanced Municipal Value Fund |
● ● ● | NHA | Nuveen Municipal 2021 Target Term Fund |
● ● ● | NID | Nuveen Intermediate Duration Municipal |
Term Fund | ||
● | NIM | Nuveen Select Maturities Municipal Fund |
● ● | NIQ | Nuveen Intermediate Duration Quality Municipal |
Term Fund | ||
● ● ● | NMCO | Nuveen Municipal Credit Opportunities Fund |
● | NMI | Nuveen Municipal Income Fund, Inc. |
● ● | NMZ | Nuveen Municipal High Income Opportunity Fund |
● | NUV | Nuveen Municipal Value Fund, Inc. |
● ● | NUW | Nuveen AMT-Free Municipal Value Fund |
● ● ● | NVG | Nuveen AMT-Free Municipal Credit Income Fund |
● | NXP | Nuveen Select Tax-Free Income Portfolio |
● | NXQ | Nuveen Select Tax-Free Income Portfolio 2 |
● | NXR | Nuveen Select Tax-Free Income Portfolio 3 |
● ● | NZF | Nuveen Municipal Credit Income Fund |
Taxable
- NBB Nuveen Taxable Municipal Income Fund
- Leveraged
- Non-Leveraged
- AMT-Free
- High Yield2
- Term
- Managed Distributions
- Cash-FlowBased Distributions
- Capital Return Plan3
- Income may be subject to state and local income taxes and the alternative minimum tax. Capital gains, if any, will be subject to capital gains tax.
- Denotes investments may be primarily in high yield securities
- Effective December 27, 2018, the Fund adopted a capital return plan. See page 8 and nuveen.com/ JQC for more information.
State1
● | NAZ | Nuveen Arizona Quality Municipal Income Fund |
● | NKG | Nuveen Georgia Quality Municipal Income Fund |
● | NMY | Nuveen Maryland Quality Municipal Income Fund |
● | NMT | Nuveen Massachusetts Quality Municipal |
Income Fund | ||
● | NUM | Nuveen Michigan Quality Municipal Income Fund |
● | NMS | Nuveen Minnesota Quality Municipal Income Fund |
● | NOM | Nuveen Missouri Quality Municipal Income Fund |
● | NJV | Nuveen New Jersey Municipal Value Fund |
● | NXJ | Nuveen New Jersey Quality Municipal |
Income Fund | ||
● | NUO | Nuveen Ohio Quality Municipal Income Fund |
● | NPN | Nuveen Pennsylvania Municipal Value Fund |
● | NQP | Nuveen Pennsylvania Quality Municipal |
Income Fund | ||
● | NPV | Nuveen Virginia Quality Municipal Income Fund |
California
- NAC Nuveen California Quality Municipal Income Fund
- NCA Nuveen California Municipal Value Fund, Inc.
- NCB Nuveen California Municipal Value Fund 2
● ● | NKX | Nuveen California AMT-Free Quality Municipal |
Income Fund |
- NXC Nuveen California Select Tax-Free Income Portfolio
New York
- NAN Nuveen New York Quality Municipal Income Fund
- NNY Nuveen New York Municipal Value Fund, Inc.
● ● | NRK | Nuveen New York AMT-Free Quality Municipal |
Income Fund |
- NXN Nuveen New York Select Tax-Free Income Portfolio
- NYV Nuveen New York Municipal Value Fund 2
6
Taxable fixed income
Emerging markets
● ● ● | JEMD | Nuveen Emerging Markets Debt 2022 |
Target Term Fund | ||
High yield
● ● ● | JCO | Nuveen Credit Opportunities 2022 |
Target Term Fund | ||
● ● | JGH | Nuveen Global High Income Fund |
● ● ● | JHAA | Nuveen Corporate Income 2023 |
Target Term Fund | ||
● ● ● | JHB | Nuveen Corporate Income November 2021 |
Target Term Fund | ||
Senior loans
● ● | JFR | Nuveen Floating Rate Income Fund |
● ● ● | JQC | Nuveen Credit Strategies Income Fund |
● ● | JRO | Nuveen Floating Rate Income Opportunity Fund |
● ● | JSD | Nuveen Short Duration Credit Opportunities Fund |
● ● | NSL | Nuveen Senior Income Fund |
Preferreds and income
- JPC Nuveen Preferred & Income Opportunities Fund
● ● | JPI | Nuveen Preferred and Income Term Fund |
- JPS Nuveen Preferred & Income Securities Fund
● ● JPT Nuveen Preferred and Income 2022 Term Fund
Securitized credit
● ● | JLS | Nuveen Mortgage and Income Fund |
Mortgage backed securities
- JMM Nuveen Multi-Market Income Fund
U.S. equities
Large cap - core
● ● JCE Nuveen Core Equity Alpha Fund
Options
● ● | BXMX | Nuveen S&P 500 | Buy-Write Income Fund |
● ● | DIAX | Nuveen Dow 30SM Dynamic Overwrite Fund | |
● ● | QQQX | Nuveen Nasdaq 100 Dynamic Overwrite Fund | |
● ● | SPXX | Nuveen S&P 500 | Dynamic Overwrite Fund |
Multi-asset
Diversified solution
● ● JDD Nuveen Diversified Dividend and Income Fund
Equity-oriented
● ● | JTA | Nuveen Tax-Advantaged Total Return |
Strategy Fund | ||
● ● | JTD | Nuveen Tax-Advantaged Dividend Growth Fund |
Public real assets
Multi-asset
● ● | JRI | Nuveen Real Asset Income and Growth Fund |
Real estate
REITs
● ● | JRS | Nuveen Real Estate Income Fund |
CLOSED -END FU NDS PRODUCT GUIDE | 4q 2020 7
This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or investment strategy and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor's objectives and circumstances and in consultation with his or her financial professionals.
Important risk considerations
Closed-end fund shares are subject to investment risk, including the possible loss of the entire principal amount that you invest. Common shares frequently trade at a discount to their NAV. At any point in time, your common shares may be worth less than you paid, even after considering the reinvestment of fund distributions.
Capital Return Plan: Distribution sources have historically included net investment income and return of capital, and may also include realized gains in the future. It is expected under the capital return plan that regular monthly distributions will include supplemental amounts in addition to net investment income which would normally represent either realized gains or a return of capital, and the fund will provide a notice of the best estimate of its distribution sources at that time, which may be viewed at nuveen.com/JQC. These estimates may not match the final tax characterization (for the full year's distributions) contained in shareholders' 1099-DIV forms after the end of the year. You should not draw any conclusions about a fund's past or future investment performance from its current distribution rate.
Cash-flowbased distributions: Historical distribution sources have included net investment income, realized gains and return of capital. If a distribution includes anything other than net
800.752.8700 | nuveen.com/cef
investment income, the fund provides a notice of the best estimate of its distribution sources at that time which may be viewed at nuveen.com/CEFdistributions. These estimates may not match the final tax characterization (for the full year's distributions) contained in shareholders' 1099-DIV forms after the end of the year. You should not draw any conclusions about a fund's past or future investment performance from its current distribution rate.
Income only distribution: Distributions are sourced entirely from net investment income, unless noted otherwise.
Leverage: Leverage typically magnifies the total return of a fund's portfolio, whether that return is positive or negative, and creates an opportunity for increased common share net income as well as higher volatility of net asset value, market price, and distributions. There is no assurance that a fund's leveraging strategy will be successful.
Managed distributions: Historical distribution sources have included net investment income, realized gains and return of capital. If a distribution includes anything other than net investment income, the fund provides a notice of the best estimate of its distribution sources at that time which may be viewed at nuveen.com/CEFdistributions. These estimates may not match the final tax characterization (for the full year's distributions) contained in shareholders' 1099-DIV forms after the end of the year. You should not draw any conclusions about a fund's past or future investment performance from its current distribution rate.
More information about these and other risks specific to each fund is available at nuveen.com/cef.
Nuveen Securities, LLC, member FINRA and SIPC.
EBR-1452499PR-Q0121P 27035
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Nuveen Multi-Market Income Fund Inc. published this content on 11 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 February 2021 14:57:05 UTC.