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Shareholders approve ETF conversion for Nuveen Long/Short Commodity Total Return Fund


Shareholders of the Nuveen Long/Short Commodity Total Return Fund (CTF), have approved the plan to convert the fund into open-ended exchange-traded fund (ETF). The conversion plan is also contingent on customary regulatory approvals.

As previously announced, the purpose of the conversion is to seek a closer alignment between the fund’s share price and net asset value. The Annual Meeting of Shareholders for the Nuveen Diversified Commodity Fund (NYSE MKT: CFD) has been adjourned to June 15, 2015, to allow additional solicitation of votes on the proposed plan to convert the fund into an ETF. The adjournment will be until 11:00 am, Central Time, on Monday, 15 June, 2015, at the offices of Nuveen Investments, 333 W Wacker Dr, Chicago, Illinois. During the pendency of the adjourned meeting, shareholders holding shares as of the record date of 30 January, 2015, who have not yet voted are encouraged to vote on the conversion plan. Brokers cannot vote the shares on this non-routine matter, so shareholders holding shares through a brokerage firm must vote their shares for the purposes of receiving sufficient votes to decide this issue. Shareholders may also change their vote by executing a new proxy.

With today’s announcement of shareholder approval, the conversion of CTF now requires regulatory approval. The conversion of CFD requires both shareholder approval and regulatory approval. Assuming the necessary approvals are obtained, the conversion of both funds to ETFs is expected to be completed in the fourth quarter of 2015. However, there can be no assurance that such approvals will be obtained, or if obtained, that the conversions will be completed in the anticipated time frame or will achieve their stated purpose.

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