Nuveen Closed-End Funds Announce Portfolio Management Update
06 Janvier 2015 - 3:15PM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced an update to the portfolio management teams for the
following Nuveen closed-end funds.
Nuveen Flexible Investment Income Fund
(NYSE: JPW)
Nuveen Preferred Income Opportunities Fund
(NYSE: JPC)
Nuveen Tax-Advantaged Dividend Growth Fund
(NYSE: JTD)
Nuveen Tax-Advantaged Total Return Strategy Fund
(NYSE: JTA)
Thomas J. Ray, who has joined NWQ Investment Management Company
(NWQ) as its new Head of Fixed Income, joins the funds’ current
co-portfolio manager, Susi Budiman, in the portions of the funds
managed by NWQ. Ray succeeds Mike Carne who is no longer with the
firm. Each fund’s investment objectives and investment strategies
remain unchanged. Additionally, while the Nuveen Flexible
Investment Income Fund’s portfolio management is led solely by the
NWQ team, there are no other portfolio management changes among the
other Nuveen affiliates that manage certain portions of the
Preferred Income Opportunities Fund, the Nuveen Tax-Advantaged
Dividend Growth Fund, and the Nuveen Tax-Advantaged Total Return
Strategy Fund.
Thomas J. Ray, CFA, Managing Director and Head of Fixed Income
at NWQ, serves as portfolio manager of four Nuveen closed-end funds
focusing on preferred and other fixed income securities. He also
serves as portfolio manager of Nuveen NWQ Flexible Income Fund.
Prior to joining NWQ in 2015, he served as Chief Investment
Officer, President and founding member of Inflective Asset
Management, a boutique investment firm specializing in convertible
securities, from 2001 until 2011. From March 2011 through 2014, Mr.
Ray was a private investor. Prior to founding Inflective, Mr. Ray
also served as portfolio manager at Transamerica Investment
Management where he co-managed the Transamerica Premier High-Yield
Bond Fund. He began working in the financial services industry in
1991. Tom graduated from University of Wisconsin with a B.B.A in
Finance, Investment & Banking and an M.S. in Finance. He holds
the Chartered Financial Analyst designation (since 1994) and is a
member of the CFA Institute.
Susi Budiman, CFA, with NWQ since 2006, serves as portfolio
manager of four Nuveen closed-end funds focusing on preferred and
other fixed income securities. She also serves as portfolio manager
of Nuveen NWQ Flexible Income Fund, an open-ended mutual fund. Ms.
Budiman was an assistant portfolio manager with NWQ from 2006 to
2009, and became a portfolio manager with NWQ in 2009. Ms. Budiman
was a Vice President of NWQ from 2008 to 2012, became Senior Vice
President in 2013 and Managing Director in 2014. She has over 14
years of investment experience. She manages NWQ’s Core Fixed Income
strategies and works on the Preferred Income and Flexible Income
strategy teams as well. Prior to joining NWQ, Ms. Budiman was
Portfolio Manager for China Life Insurance Company, Ltd. in Taiwan.
She managed US dollar and Euro denominated fixed income portfolios
for insurance funds for six years with responsibility for assets of
approximately $1.8 billion. Ms. Budiman graduated from the
University of British Columbia, Canada with a Bachelor of Commerce
degree in Finance and received her M.B.A. from University of
Southern California. She earned the designations of Financial Risk
Manager in 2003, and Fellow, Life Management Institute in 2004. She
holds the Chartered Financial Analyst designation (since 2006) and
is a member of the Los Angeles Society of Financial Analysts.
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 $229 billion as of
September 30, 2014. For more information, please visit the Nuveen
Investments website at www.nuveen.com.
5086-INV-O01/16
Nuveen InvestmentsMedia Contact:Kristyna Munoz,
(312) 917-8343kristyna.munoz@nuveen.com
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