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By Mike Taggart, CFA | 07-07-2010 01:27 PM

In Search of CEF Transparency

CEF strategist Mike Taggart checks in with Anne Kritzmire, Nuveen's managing director of closed-end funds, on the firm's online efforts to enhance closed-end fund transparency for investors.

Mike Taggart: Hi. I am Mike Taggart, closed-end fund strategist at Morningstar. One of the things that I've been writing quite a bit about is transparency with closed-end funds. Today I have asked Anne Kritzmire, managing director of closed-end funds at Nuveen Investments, to join me. Anne thanks for being here.

Anne Kritzmire: Thanks for inviting me, Mike.

Taggart: One of the things Nuveen has known for – and indeed you've won several awards through the years – is the transparency that you offer investors on your website.

Kritzmire: Yes.

Taggart: So, can you just kind of help our viewers understand what went into that decision? Why does Nuveen put so much information about their funds out on the website?

Kritzmire: Sure. The web is a really key part of our whole investor relation strategy, because we don't know who all of the investors are, who hold our shares, and we honestly don't know all of the financial advisors who help them. The web provides the easiest place to have public access for all of the information about our funds as timely as we can make it, as digestible as we can make it. We use the word "transparent" and that's a real important thing to us is how do we be as transparent as possible to help people understand what they might be getting before they buy shares of our funds and then help them have all the info they need when they own shares of our funds as they can monitor progress and performance over time.

Taggart: Now, in addition to your own website, Nuveen sponsors the CEFConnect, which offers investors and visitors to the site information about every fund in the closed-end fund universe.

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