Nuveen High Income 2020 Target Term Fund Attracts $124 Million
29 Julho 2015 - 10:15AM
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 High Income 2020 Target Term Fund (NYSE: JHY).
The new closed-end fund’s investment objectives are to seek to
provide a high level of current income and to return the original
$9.85 net asset value (NAV) per common share on or about November
1, 2020. The fund will seek to achieve its investment objectives by
investing primarily in shorter maturity, high-yield corporate
bonds.
The fund will begin trading on the New York Stock Exchange
(NYSE) today, under the symbol JHY.
The fund raised approximately $124 million (before deduction of
the sales load and offering expenses payable by the fund) 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 approximately $143
million.
Nuveen Fund Advisors, LLC, a subsidiary of Nuveen Investments,
is the fund’s investment adviser, responsible for the fund’s
overall investment strategy and its implementation, including the
use of leverage. Nuveen Asset Management, an affiliate of Nuveen
Investments, is the fund’s subadviser, responsible for investing
the fund’s assets. The lead managers of the underwriting syndicate
were Morgan Stanley, Barclays, RBC Capital Markets and Nuveen
Securities.
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.
About Closed-End Funds
Nuveen closed-end funds have long been valued for their
potential to provide attractive income. In the search for increased
income opportunities, closed-end funds can be a smart choice.
Because of their unique closed structure, closed-end funds can use
leverage, and are generally able to invest more fully and flexibly
than other types of widely available investment vehicles. Their
higher yield potential can make them a powerful tool for optimizing
an income portfolio.
About Nuveen Investments
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 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 $230 billion as of
June 30, 2015. 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 Securities, 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.
9469-INV-O-07/16
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version on businesswire.com: http://www.businesswire.com/news/home/20150729005787/en/
Nuveen InvestmentsMedia Contact:Kristyna Munoz, (312)
917-8343kristyna.munoz@nuveen.com
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