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.
« Union Reps Targets of Violence