CHICAGO--(BUSINESS WIRE)--The Fund Boards for the Nuveen Preferred Securities Income Fund (JPS) and the Nuveen Preferred Income Opportunities Fund (JPC) have approved policy and name changes outlined in the tables below. The proposed policy and name changes are anticipated to be effective on September 30, 2017.
The following name changes have been approved for JPS and JPC:
|Fund||Current Name||Proposed/New Name|
|JPS||Nuveen Preferred Securities Income Fund||Nuveen Preferred & Income Securities Fund|
|JPC||Nuveen Preferred Income Opportunities Fund||Nuveen Preferred & Income Opportunities Fund|
The funds’ investment strategies and day-to-day investment management will remain unchanged. In describing the funds’ investments, however, preferred securities will no longer be defined to include Contingent Capital Securities (CoCos). Instead, CoCos will be listed separately as a type of income producing security in which the funds invest.
Consequently, the policy descriptions will change for JPS and JPC as outlined in the table below:
|Fund||Current Policy||Proposed/New Policy|
|JPS||At least 80% of its Managed Assets in preferred securities.||At least 80% of its Managed Assets in preferred and other income producing securities, including hybrid securities such as contingent capital securities.|
At least 80% of its managed assets in
preferred securities, and up to 20% opportunistically in other securities, primarily income-oriented securities such as corporate and taxable municipal debt and common equity.
|At least 80% of its Managed Assets in preferred and other income producing securities, including hybrid securities such as contingent capital securities, and up to 20% opportunistically in other income-oriented securities such as corporate and taxable municipal debt and dividend paying common equity.|
Nuveen offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. As the investment management arm of TIAA, Nuveen has $906 billion in assets under management as of 3/31/17 and operations in 16 countries. Its affiliates offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.
Securities offered through Nuveen Securities, LLC, member FINRA and SIPC.
The information contained on the Nuveen website is not a part of this press release.
FORWARD LOOKING STATEMENTS
Certain statements made in this release are forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to:
|•||legal and regulatory developments; and|
|•||other additional risks and uncertainties.|
Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statement.