Nuveen to Open Real Estate Income Fund

October 12, 2001 ( - Nuveen Investments plans to launch a public offering for a closed-end exchange-traded real estate income fund in November.

The new fund, the Nuveen Real Estate Income Fund, is Nuveen’s first in this asset category. It will seek high current income, with capital appreciation as a secondary objective.

The fund plans to invest at least 90% of its total assets in income-producing common stocks, preferred stocks, convertible preferred stocks, and debt securities issued by real estate investment trusts.

Security Capital Research & Management Inc. will sub-advise the fund.

The registration statement for the new fund has been filed with the Securities and Exchange Commission. Salomon Smith Barney will act as lead underwriter.