Bringing you live news and features since 2006 

Nuveen completes IPO of Mortgage Opportunity Term Fund


Nuveen Investments, a provider of investment services to institutions and high-net-worth investors, has completed the initial public offering of the Nuveen Mortgage Opportunity Term Fund.

The closed-end fund’s investment objective is to generate attractive total returns through opportunistic investments in mortgage-backed securities.

The fund seeks to achieve its investment objective by investing in mortgage-backed securities directly and indirectly through a separate investment in a public-private investment partnership formed pursuant to the Public-Private Investment Program established by the US Department of the Treasury.

The fund raised USD400m in its common share offering, assuming full exercise of underwriters’ option to purchase additional shares, which may not occur.

Nuveen Asset Management is the fund’s adviser and is responsible for determining the fund’s overall investment strategy and deciding whether and to what extent to invest in a public-private investment partnership formed pursuant to PPIP.

Wellington Management is the fund’s sub-adviser and is responsible for managing the fund’s direct investments in mortgage-backed securities and other permitted investments. Wellington Management, which was selected by the Department of Treasury in July as one of nine managers eligible to participate in PPIP, also serves as investment adviser of a public-private investment partnership in which the fund may invest.

Latest News

Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..
Calastone has published an ETF white paper which examines several of the processes that take place across the lifecycle of..
Adapting product lines to fit into changing methodologies and meet shifting demand is essential to remaining relevant in the industry..

Related Articles

Kristen Mierzwa, FTSE Russell
Index Investments Group (IIG), a division within index provider FTSE Russell, has extended its range of indices through two new...
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by