Nuveen Asset Management has assumed the role of investment adviser for four closed-end funds previously managed by IQ Investment Advisors.
Each fund’s shareholders approved this change on 30 September 2010 as previously announced by IQ Advisors.
The four funds are:
• Dow 30 Premium & Dividend Income Fund
• Dow 30 Enhanced Premium & Income Fund
• Global Income & Currency Fund
• MLP & Strategic Equity Fund
Each fund’s portfolios will continue to be managed by the same investment teams. Nuveen affiliate Nuveen HydePark Group will continue as sub-adviser to the Dow 30 funds, Fiduciary Asset Management will continue as sub-adviser to MLP & Strategic Equity Fund, and Nuveen will continue to manage Global Income & Currency Fund’s portfolio.
"We are pleased to welcome IQ shareholders to the Nuveen closed-end fund family where we believe they will benefit from the significant resources we have dedicated to managing closed-end funds and providing specialised service to closed-end fund investors," says Bill Adams, executive vice president, Nuveen Investments. "We have worked closely with IQ Advisors and the IQ fund board to ensure a smooth transition that provides continuity in the investment process and shareholder service."