Nuveen Flexible Investment Income Fund Begins Trading on NYSE
Nuveen Flexible Investment Income Fund Begins Trading on NYSE
CHICAGO--(BUSINESS WIRE)-- Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced it has successfully completed the initial public offering of the Nuveen Flexible Investment Income Fund (NYSE:JPW). The new closed-end fund's investment objectives are to provide high current income and, secondarily, capital appreciation. The fund will seek to achieve its investment objectives by investing in income producing securities. The fund will begin trading on the New York Stock Exchange (NYSE) today, under the symbol JPW.
The fund raised approximately $70 million in its common share offering, excluding any exercise of the underwriters' option to purchase additional shares. If the underwriters exercise that option in full, the fund will have raised $80.5 million.
Nuveen Fund Advisors, LLC will be the fund's investment adviser, responsible for the fund's overall investment strategy and its implementation, including the use of leverage. Nuveen Fund Advisors, a registered investment adviser, is a subsidiary of Nuveen Investments. NWQ Investment Management Company, LLC, also a subsidiary of Nuveen Investments, will be the fund's sub-adviser and responsible for the day-to-day management of the fund's portfolio of securities. The lead managers of the underwriting syndicate were Morgan Stanley & Co. LLC, Citigroup Global Markets Inc. and Nuveen Securities, LLC.
Shares of closed-end investment companies, like the fund, usually trade on a national stock exchange. Similar to stocks, the fund's share price will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value.
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. In total, Nuveen Investments managed approximately $224 billion as of March 31, 2013. For more information, please visit the Nuveen Investments website at www.nuveen.com.
Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the fund carefully before investing. For a prospectus which contains this and other information relevant to an investment in the fund, please contact your securities representative or Nuveen Investments, LLC, 333 W. Wacker Drive, Chicago, IL 60606.Investors should read the prospectus carefully before they invest or send money.
This document is not an offer to sell securities and is not soliciting an offer to buy securities in any jurisdiction where the offer or sale is not permitted
Nuveen Investments
Media Contact:
Kristyna Munoz
(312) 917-8343
KRISTYNA.MUNOZ@NUVEEN.COM
KEYWORDS: United States North America Illinois New York
INDUSTRY KEYWORDS:
The article Nuveen Flexible Investment Income Fund Begins Trading on NYSE originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.
