Nuveen Commodity Funds Provide Update on Proposed Conversion to ETF Structure
June 08 2016 - 8:00AM
Business Wire
Nuveen Investments, an operating division of TIAA Global Asset
Management, today announced that the Securities and Exchange
Commission (SEC) has issued notice of a proposed new exchange rule
pursuant to which shares of Nuveen Diversified Commodity Fund
(NYSE:CFD) and Nuveen Long/Short Commodity Total Return Fund
(NYSE:CTF) would be able to trade upon conversion of each
respective fund into an exchange-traded fund (ETF). Upon
publication in the Federal Register, which is expected to occur in
mid-June, the proposed rule will be subject to a 45-day comment
period. If the SEC approves the proposed rule at the conclusion of
this comment period, the funds intend to complete their conversion
to ETFs as soon as practicable thereafter. There can be no
assurance that SEC approval will be obtained, or if obtained, that
the conversion will be completed in the anticipated time frame. The
funds will provide an update on the expected timing of the
conversion and other related information when it becomes available.
The funds are not currently, and after the conversion will not be,
mutual funds or any other type of investment company within the
meaning of the Investment Company Act of 1940.
A registration statement relating to the securities each fund
intends to issue following the conversion has been filed with the
SEC but has not yet become effective. These securities may not be
sold nor may offers to buy be accepted prior to the time the
registration statement of each fund becomes effective.
Shareholders are able to obtain, free of charge, copies of the
registration statements referred to above and any prospectus
included therein, as well as any other documents filed by the funds
with the SEC at the SEC’s website at www.sec.gov, by calling NCAM
at 877-827-5920 or by writing to the funds at 333 W. Wacker Drive,
Chicago, Illinois, 60606.
Investments in shares of the funds are subject to investment
risk, including the possible loss of the entire amount invested.
The funds currently invest primarily in commodity futures contracts
and options on commodity futures contracts, which have a high
degree of price variability and are subject to rapid and
substantial price changes. The funds could incur significant losses
on their commodity investments. The funds are not currently, and
after the conversion will not be, mutual funds or any other type of
“investment company” within the meaning of the Investment Company
Act of 1940, as amended, and are not subject to regulation
thereunder. For more information about the funds, including a more
complete description of risks, please see the funds’ website, which
is publicly available at no charge. The information and other
content contained on or linked from the funds’ website is not
incorporated by reference in each Fund’s prospectus and should not
be considered a part of each fund’s prospectus.
This is not a solicitation to buy or sell the funds’ shares, nor
is it a solicitation of any proxy. The funds do not presently offer
any new shares for sale; existing shares trade on the NYSE MKT.
NCAM, a wholly-owned subsidiary of Nuveen Investments, is the
manager of the funds and is registered as a commodity pool operator
with the Commodity Futures Trading Commission. Nuveen Investments
provides investment solutions designed to help secure the long-term
goals of individual investors and the financial advisors who serve
them. Through the expertise and capabilities of TIAA Global Asset
Management’s high-caliber investment managers, Nuveen Investments
is committed to providing world-class consultative services and
advice that align with client needs. Nuveen Investments is an
operating division of TIAA Global Asset Management. For more
information, please visit the Nuveen Investments website at
www.nuveen.com.
16808-INV-O-06/18
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version on businesswire.com: http://www.businesswire.com/news/home/20160608005371/en/
Nuveen InvestmentsMedia Contact:Kristyna Munoz(312)
917-8343kristyna.munoz@nuveen.com
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