DEF: Nuveen Funds Announce Annual Shareholder Meeting to Elect Board Members

Nuveen is holding a virtual annual meeting on April 17, 2025, for shareholders of various funds to elect board members.

Summary

• Nuveen is holding an Annual Meeting of Shareholders on April 17, 2025, at 2:00 p.m. Central Time.
• The meeting will be entirely virtual, conducted online via live webcast.
• Shareholders will vote to elect Board Members for various Nuveen funds.
• The record date for determining shareholders entitled to notice of and to vote at the Annual Meeting is February 18, 2025.
• The Joint Proxy Statement is being mailed to shareholders on or about March 7, 2025.
• Shareholders can vote by mail, telephone, or over the Internet.
• The number of Board Members to be elected varies by fund, with some funds electing members by common and preferred shareholders voting together, and others electing members by preferred shareholders only.
• For Multi-Market Income, because a quorum was not present at the 2024 Shareholder Meeting, action could not be taken on the election of trustees.
• For Core Plus Impact, Multi-Asset Income, Real Asset and Variable Rate Preferred & Income, because the number of persons nominated for election as trustees exceeded the number of trustees to be elected, the affirmative vote of the holders of a majority of the shares outstanding and entitled to vote on the matter was required to elect trustees at the May 2024 Shareholder Meeting.
• No trustee nominee received the affirmative vote of the holders of a majority of the shares outstanding and entitled to vote on the matter at the May 2024 Shareholder Meeting.

Sentiment

Score: 7

Explanation: The document is a standard proxy statement, which is generally neutral in tone. It provides necessary information for shareholders to make informed decisions regarding the election of Board Members. The sentiment is slightly positive due to the clear and organized presentation of information.

Positives

• The meeting is being held virtually, allowing for broader shareholder participation.
• Shareholders have multiple options for voting (mail, telephone, internet), increasing accessibility.
• The document provides clear instructions for attending the virtual meeting and voting shares.
• The document provides detailed information about the Board Members and nominees, including their qualifications and experience.

Negatives

• The meeting is only virtual, which may exclude some shareholders who lack internet access or prefer in-person meetings.
• For Multi-Market Income, Core Plus Impact, Multi-Asset Income, Real Asset and Variable Rate Preferred & Income, because a quorum was not present at the 2024 Shareholder Meeting, action could not be taken on the election of trustees.

Risks

• Failure to achieve a quorum at the Annual Meeting will necessitate adjournment and additional expense.
• The document mentions potential delays in replacing a majority of the Board due to staggered terms.
• The document mentions that the Board Members Medero, Moschner, Starr and Thornton continue to serve a holdover term as trustees of Real Asset until their successors have been duly elected and qualified.

Future Outlook

The document outlines the process for the upcoming Annual Meeting and provides information for shareholders to participate in the election of Board Members.

Industry Context

This announcement is a standard corporate governance procedure for investment funds, ensuring shareholder participation in the election of the Board of Trustees.

Comparison to Industry Standards

• The structure of the Board and its committees is typical for registered investment companies.
• The disclosure of Board Member qualifications and compensation is in line with regulatory requirements.
• The virtual meeting format has become increasingly common, especially since 2020, to facilitate broader participation.

Stakeholder Impact

• Shareholders have the opportunity to influence the governance of the funds by electing Board Members.
• The Board of Trustees is responsible for overseeing the management and operations of the funds, impacting shareholder value.
• The election results will determine the composition of the Board, which will guide the funds' strategies and policies.

Next Steps

• Shareholders should review the proxy statement and vote their shares by mail, telephone, or online.
• Shareholders who wish to attend the virtual Annual Meeting should register online using the provided instructions.
• The newly elected Board Members will assume their responsibilities following the Annual Meeting.

Key Dates