Thomas J. Ray, who has joined NWQ Investment Management Company (NWQ) as its new Head of Fixed Income, joined Nuveen Preferred Income Opportunities Fund, Nuveen Flexible Investment Income Fund, Nuveen Tax-Advantaged Dividend Growth Fund and Nuveen Tax Advantaged Total Return Strategy Fund as current co-portfolio manager, Susi Budiman, in the portions of the funds managed by NWQ. Ray succeeds Mike Carne who is no longer with the firm. Each fund's investment objectives and investment strategies remain unchanged.

Additionally, while the Nuveen Flexible Investment Income Fund's portfolio management is led solely by the NWQ team, there are no other portfolio management changes among the other Nuveen affiliates that manage certain portions of the Preferred Income Opportunities Fund, the Nuveen Tax-Advantaged Dividend Growth Fund, and the Nuveen Tax-Advantaged Total Return Strategy Fund. Thomas J. Ray, CFA, Managing Director and Head of Fixed Income at NWQ, serves as portfolio manager of four Nuveen closed-end funds focusing on preferred and other fixed income securities. He also serves as portfolio manager of Nuveen NWQ Flexible Income Fund.

Prior to joining NWQ in 2015, he served as Chief Investment Officer, President and founding member of Inflective Asset Management.