Nuveen Multi-Strategy Income And Growth Fund Provides Update On Portfolio Repositioning

The Nuveen Multi-Strategy Income and Growth Fund (NYSE: JPC) today announced that implementation of the fund’s previously announced portfolio repositioning will begin January 23, 2012. Fund shareholders approved certain changes needed to implement the portfolio repositioning at a special shareholder meeting held on November 18, 2011. An overview of the repositioning is available by clicking here. The fund will notify shareholders once the portfolio repositioning has been completed.

JPC currently features a mix of debt and equity investment strategies. After the completion of its portfolio repositioning, the fund will focus its investments on preferred securities. Nuveen Asset Management, LLC (NAM) and NWQ Investment Management Company, LLC (NWQ), affiliates of Nuveen Investments, will assume portfolio management responsibilities from JPC’s existing sub-advisers and each will manage a part of the fund’s investment portfolio. As a result, the following portfolio managers have been appointed to the existing portfolio management team:

• NAM: Douglas Baker and Brenda Langenfeld;
• NWQ: Michael Carne and Kevin Hunter.

Mr. Baker also serves as the portfolio manager for the Nuveen Preferred Securities Fund, and related preferred security strategies. He joined Nuveen Asset Management in 2006 as a Vice President and Derivatives Analyst, and later that year his responsibilities expanded to include portfolio management duties. Mr. Baker also manages Nuveen Asset Management’s derivative overlay group, where he is responsible for implementing derivatives-based hedging strategies across the Nuveen fund complex. Prior to joining Nuveen, Mr. Baker spent three years at Lehman Brothers in institutional fixed income and derivatives sales, and prior to that he spent five years at Bank of America in corporate and commercial banking. Mr. Baker earned his BS in finance with honors from the University of Illinois and his MBA in finance and economics with honors from the University of Chicago Graduate School of Business.

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