DEFA14A: Nuveen Real Asset Income & Growth Fund Faces Proxy Fight from Saba Capital

Nuveen Real Asset Income & Growth Fund urges shareholders to vote for its board nominees amidst a proxy challenge from Saba Capital Management.

Summary

• Nuveen Real Asset Income & Growth Fund (JRI) is facing a proxy fight from Saba Capital Management, L.P.
• Saba is attempting to replace one of the fund's trustees with their own nominee who lacks experience in closed-end or mutual funds.
• Nuveen is urging shareholders to vote for their four qualified trustees using the WHITE proxy card.
• They argue that Saba's nominee could disrupt the fund's performance and ability to deliver consistent income.
• Glass Lewis, an independent proxy advisory firm, recommends shareholders vote FOR all of the Board Nominees of JRI.
• The annual meeting date is May 31, 2024, at 12:30 PM Central Time.
• Shareholders are advised not to sign or return any proxy cards sent by Saba.
• The latest dated proxy will be counted.
• Shareholders can vote online, by phone, or by mail using the WHITE proxy card.
• Computershare Fund Services can be contacted toll-free at 866-357-3956 for questions.

Sentiment

Score: 5

Explanation: The document is defensive, urging shareholders to vote against a perceived threat. The sentiment is neutral overall, focusing on the importance of shareholder action.

Positives

• Nuveen is actively defending its board against a potentially disruptive influence.
• Glass Lewis recommends shareholders vote FOR all of the Board Nominees of JRI.
• Shareholders have multiple convenient options for voting (online, phone, mail).
• A dedicated contact number is provided for shareholder inquiries.

Negatives

• The proxy fight introduces uncertainty and potential disruption to the fund's management.
• Saba's nominee lacks experience in closed-end or mutual funds, raising concerns about their suitability.
• The fund's performance and income delivery could be negatively impacted if Saba's nominee is successful.

Risks

• The proxy fight could distract management from focusing on the fund's core operations.
• Saba's influence could lead to changes in investment strategy or fund management that are not in the best interests of all shareholders.
• Uncertainty surrounding the outcome of the proxy vote could negatively impact investor sentiment and the fund's share price.

Future Outlook

The outcome of the proxy vote will determine the future composition of the fund's board and potentially influence its investment strategy and performance.

Management Comments

• Your Fundand your investmentare on the line.
• A vote for your Trustees is a vote to protect your investment.
• Sabas nominee is not the best steward of your financial interests, and we need you to vote to protect our shared future.
• Every shareholder voice matters.
• Every vote is necessary.
• Your vote makes the difference.

Industry Context

Proxy fights are becoming increasingly common in the investment management industry, as activist investors seek to influence corporate governance and strategy.

Stakeholder Impact

• Shareholders are directly impacted by the outcome of the proxy vote, which will determine the composition of the board.
• The fund's employees and management team could be affected by changes in strategy or leadership resulting from the proxy fight.

Next Steps

• Shareholders need to vote using the WHITE proxy card before the annual meeting on May 31, 2024.

Key Dates

Keywords

proxy fight, Nuveen Real Asset Income & Growth Fund, Saba Capital Management, trustees, annual meeting, proxy vote, JRI, Glass Lewis