Nuveen Investments, a leading global provider of investment services to institutions as well as high-net-worth and affluent investors, today announced that the Board of Trustees of the Nuveen Multi-Strategy Income and Growth Fund 2 (NYSE: JQC) approved repositioning the fund’s current portfolio and adopting a single-strategy, debt-oriented approach. JQC’s investment objective of high current income with a secondary objective of total return will remain unchanged. The Board also approved changing the fund’s name to Nuveen Credit Strategies Income Fund once the repositioning is completed. The goal of the proposed repositioning is to increase the attractiveness of the fund’s common shares and narrow the fund’s trading discount by:
- Simplifying the fund to focus on one of its current core portfolio strategies;
- Positioning the fund in a closed-end fund category that is well understood and has historically seen more consistent secondary market demand; and
- Differentiating the fund from similar funds, including other Nuveen closed-end funds in the same fund category.
Certain statements made herein 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.