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Nuveen provides update on ETF conversion

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Nuveen Investments, an operating division of TIAA Global Asset Management, today announced that 

The Securities and Exchange Commission (SEC) has issued notice of a proposed new exchange rule which would allow shares of Nuveen Diversified Commodity Fund (CFD) and Nuveen Long/Short Commodity Total Return Fund (CTF) to trade on conversion to an exchange-traded fund (ETF). 

Upon publication in the Federal Register, which is expected to occur in mid-June, the proposed rule will be subject to a 45-day comment period. If the SEC approves the proposed rule at the conclusion of this comment period, the funds intend to complete their conversion to ETFs as soon as practicable thereafter. There can be no assurance that SEC approval will be obtained, or if obtained, that the conversion will be completed in the anticipated time frame. The funds will provide an update on the expected timing of the conversion and other related information when it becomes available. The funds are not currently, and after the conversion will not be, mutual funds or any other type of investment company within the meaning of the Investment Company Act of 1940.

A registration statement relating to the securities each fund intends to issue following the conversion has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement of each fund becomes effective.

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