CEF Update: News You Can Use
Nuveen Investments had a busy week.
Mentioned: Credit Suisse Asset Mgmt Income (CIK)
, Gabelli Equity Trust (GAB)
, Nuveen Diversified Div & Income (JDD)
, EV Tax-Managed Buy-Write Inc (ETB)
, EV Tax-Managed Buy-Write Opps (ETV)
, EV Tax-Managed Glb B-W Opps (ETW)
The board of directors of Nuveen Diversified Dividend & Income (JDD) approved changes to the fund's investment policy, effective Sept. 1, 2014. According to Nuveen, the changes are intended to update and clarify the investment parameters for the global equity income sleeve of the portfolio, managed by NQW Investment Management, an affiliate of Nuveen Investments. The strategy changes for the global equity income sleeve are listed below:
- At least 65% of the sleeve will be invested in dividend-paying securities.
- No more than 20% of the sleeve can be invested in emerging-markets issuers.
- No more than 20% of the sleeve can be invested in convertibles.
- No more than 20% of the sleeve can be invested in preferred securities.
- No more than 20% of the sleeve can be invested in debt.
- The fund's equity investments may include positions in common, preferred, and convertible securities issued by master limited partnerships and REITs of U.S. and non-U.S. issuers.
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Cara Esser does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.