Nuveen Announces Update to Closed-End Fund Portfolio Management Team

CHICAGO--()--Nuveen Investments, a leading global provider of investment services to institutions, as well as individual investors, today announced that a portfolio manager for the Diversified Real Asset Income Fund (NYSE: DRA), David A. Yale, will retire from Nuveen Asset Management, an affiliate of Nuveen Investments, effective February 29, 2016. John Wenker, Jay Rosenberg, Jeffrey T. Schmitz, Brenda Langenfeld and Tryg Sarsland will continue their portfolio management responsibilities for the fund.

David’s retirement has been anticipated and his responsibilities will be assumed by other members of the portfolio management team to ensure continuity and an efficient transition. David will continue co-managing the fund’s portfolio until he retires in February of next year.

About the Portfolio Management Team

John Wenker serves in a strategic role as head of real assets for Nuveen Asset Management, responsible for the investment process and performance of the firm’s equity real estate, debt real estate, global infrastructure and real asset income strategies. John’s background features a unique blend of nearly four decades of experience in public policy, urban planning, real estate finance and valuation, and portfolio management. John joined the firm in 1992 as a portfolio manager for four real estate debt closed-end funds. He took over management of the firm’s equity Real Estate Securities Strategy in October 1999. John earned a B.A. in public administration from Metropolitan State University and an M.B.A. in finance from the University of St. Thomas.

Jay Rosenberg serves in a strategic role as head of investments for the Real Assets Team, helping to drive the group’s investment philosophy while implementing its investment strategies and overseeing all trading decisions and analyst teams. Jay is also the lead manager of all listed real assets portfolios at Nuveen Asset Management. Jay graduated from the University of Wisconsin–Madison, where he received a B.S. He received a master’s degree in urban planning and public policy from the University of Illinois–Chicago.

Jeffery T. Schmitz is the co-manager of the High Yield Bond and Real Asset Income Strategies and related institutional portfolios. He has co-managed High Yield Bond since 2008 and Real Asset Income since its inception in 2011. He is also a member of the High-Yield Credit and the Emerging Markets Sector Teams. Jeff received a B.A. in finance from the University of St. Thomas and an M.B.A. in finance from the University of Minnesota’s Carlson School of Management. He holds the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Society of Minnesota.

Brenda Langenfeld is a portfolio manager for the Preferred Securities Strategy and related institutional portfolios. She joined the Preferred Securities Sector Team in 2011. She is also a co-manager for the Real Asset Income Strategy, which invests in income-generating debt and equity securities from both the real estate and infrastructure segments, since 2015. Brenda started working in the financial services industry in 2004 when she joined the firm. A graduate of the University of Wisconsin–Madison, Brenda received a B.B.A. in finance and international business. She also holds the Chartered Financial Analyst designation from the CFA Institute.

Tryg Sarsland is a co-portfolio manager for the Global Infrastructure Strategy, which invests in listed infrastructure companies from around the world. He joined the Global Infrastructure Team in 2011. Tryg is also a co-manager for the Real Asset Income Strategy, which invests in income-generating debt and equity securities from both the real estate and infrastructure segments, since 2015. In addition, he is a senior research analyst for the Global Infrastructure Team, specializing in the MLP and pipeline industries. He began working in the financial services industry in 2000 and joined the firm in 2011. Tryg received a B.A. from St. John’s University and an M.B.A. from St. Cloud State University.

More information on the Diversified Real Asset Income Fund and other Nuveen closed-end funds is posted on Nuveen’s web site at www.nuveen.com/cef.

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 independent investment subsidiaries of Nuveen Investments, Inc. Funds are distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. Nuveen Investments operates as a separate subsidiary within TIAA-CREF, which is a leading provider of retirement and financial services in the academic, research, medical and cultural fields. In total, Nuveen Investments managed approximately $220 billion as of September 30, 2015. For more information, please visit the Nuveen Investments website at www.nuveen.com.

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Contacts

Nuveen Investments
Media Contact:
Kristyna Munoz, (312) 917-8343
kristyna.munoz@nuveen.com

Contacts

Nuveen Investments
Media Contact:
Kristyna Munoz, (312) 917-8343
kristyna.munoz@nuveen.com