Nuveen Closed-End Funds Board Approves New Sub-Advisory Contracts
2019年8月10日 - 8:13AM
ビジネスワイヤ(英語)
The Board of Trustees of Nuveen Energy MLP Total Return Fund
(NYSE:JMF) and Nuveen All Cap Energy MLP Opportunities Fund
(NYSE:JMLP) have approved both an interim investment sub-advisory
agreement and a new investment sub-advisory agreement with Tortoise
Capital Advisors, L.L.C. The Board determined that the new
investment sub-advisory agreement would be presented to the fund’s
shareholders for approval at an upcoming shareholder meeting.
The new investment sub-advisory agreements were approved in
connection with a previously announced transaction whereby Tortoise
Capital Advisors will acquire the midstream energy business of
Advisory Research, Inc. from its current owner, Piper Jaffray
Companies. In the transaction, the members of the funds’ current
portfolio management team will join Tortoise Capital Advisors.
Consummation of the transaction will result in an assignment and
termination of the funds’ existing sub-advisory agreements with
Advisory Research. The parties have stated that they expect the
transaction to be consummated during the third quarter.
To assure continuity of sub-advisory services after the
transaction, the interim agreement will take effect upon
consummation of the transaction. Tortoise Capital Advisors will
continue to serve as each fund’s subadvisor under the interim
agreement until the earlier of 150 days after the closing of the
transaction or when shareholders approve the new sub-advisory
agreement. If shareholders of a fund do not approve the new
sub-advisory agreement prior to the end of the interim period, the
Board will take such action as it deems to be in the best interests
of the fund. If the transaction is not consummated, Advisory
Research will continue to act as subadvisor under the current
sub-advisory agreements.
Important Information
In connection with the presentation of the new sub-advisory
agreement to each fund’s shareholders for approval, each fund
expects to file a proxy statement with the SEC. Investors are urged
to read the proxy statement and any other relevant documents when
they become available because they will contain important
information about the proposals. After they are filed, free copies
of the proxy statements will be available on the SEC’s web site at
www.sec.gov.
This communication is not a solicitation of a proxy from any
fund shareholder. The funds, Nuveen Fund Advisors and certain of
their respective directors/trustees, officers and affiliates may be
deemed under the rules of the SEC to be participants in the
solicitation of proxies from shareholders in connection with the
proposals. Information about the directors/trustees and officers of
the funds may be found in their respective annual reports and
annual proxy statements previously filed with the SEC and will be
contained in the proxy statement when available.
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:
- market developments;
- 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.
For more information, please visit Nuveen’s CEF homepage
www.nuveen.com/closed-end-funds.
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive
range of outcome-focused investment solutions designed to secure
the long-term financial goals of institutional and individual
investors. Nuveen has more than $1 trillion in assets under
management as of 30 June 2019 and operations in 23 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.
Nuveen Securities, LLC, member FINRA and SIPC.
The information contained on the Nuveen website is not a part of
this press release.
EPS-924075PR-E0819X
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