Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today announced that Nuveen Asset Management (Nuveen) has assumed the role of investment adviser for four closed-end funds previously managed by IQ Investment Advisors LLC (IQ Advisors). Each fund’s shareholders approved this change on September 30, 2010 as previously announced by IQ Advisors. The four funds are:
· Dow 30SM Premium & Dividend Income Fund Inc. (NYSE:DPD)
· Dow 30SM Enhanced Premium & Income Fund Inc. (NYSE:DPO)
· Global Income & Currency Fund (NYSE:GCF)
· MLP & Strategic Equity Fund Inc. (NYSE:MTP)
Each fund’s portfolios will continue to be managed by the same investment teams. Nuveen affiliate Nuveen HydePark Group, LLC (HydePark) will continue as sub-adviser to DPO and DPD, Fiduciary Asset Management, LLC (FAMCO) will continue as sub-adviser to MTP, and Nuveen will continue to manage GCF’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 specialized service to closed-end fund investors,” said 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.”
Additionally, three of the funds declared regular monthly distributions which are listed in the table below:
The following dates apply to today’s distribution declarations:
|Record Date||October 22, 2010|
|Ex-Dividend Date||October 20, 2010|
|Payable Date||October 29, 2010|
Dow 30SM Premium & Dividend Income Fund Inc.
|DPO||Dow 30SM Enhanced Premium and Income Fund Inc.||.0850|
|MTP||MLP & Strategic Equity Fund Inc.||.0700|
Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions and high net worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high-quality brands of NWQ, Nuveen, Santa Barbara, Symphony, Tradewinds, Winslow Capital and Nuveen HydePark. In total, the Company managed more than $160 billion as of September 30, 2010. For more information, please visit the Nuveen Investments website at www.nuveen.com.
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