DEFA14A: Nuveen Real Asset Income & Growth Fund Urges Shareholders to Vote for Board's Nominees Amid Saba Capital Challenge

Nuveen Real Asset Income & Growth Fund is urging shareholders to vote for its qualified trustee nominees on the WHITE proxy card, amidst a challenge from Saba Capital Management.

Summary

• Nuveen Real Asset Income & Growth Fund (JRI) is recommending that shareholders vote FOR the fund's four qualified nominees on the WHITE proxy card.
• The board emphasizes the extensive experience of its nominees, totaling over 130 years in investment management and business leadership.
• The nominees are committed to achieving the fund's investment objectives, driving performance, delivering reliable income, and implementing optimal corporate governance.
• Saba Capital Management is attempting to replace the experienced trustees with its own nominee, who the board argues lacks relevant expertise and may prioritize Saba's interests.
• Shareholders are urged to disregard the GOLD proxy card sent by Saba and to only vote using the WHITE proxy card to ensure their vote for the board's nominees is counted.
• Georgeson LLC, the fund's proxy solicitor, is available to answer any questions about the proposals or voting instructions at 866-357-3956.

Sentiment

Score: 6

Explanation: The document conveys a neutral to slightly defensive sentiment, primarily focused on urging shareholders to support the current board nominees and highlighting the risks associated with the opposing side's proposal. The tone is professional but also contains elements of concern regarding potential disruption from Saba Capital.

Positives

• The current trustees possess over 130 years of combined experience in investment management and business leadership.
• The board is focused on achieving the fund's investment objectives, driving performance, and delivering reliable income.
• The board is committed to implementing optimal corporate governance practices.

Negatives

• Saba Capital Management is attempting to replace the experienced trustees with its own nominee, potentially disrupting the fund's objectives.
• The board believes Saba's nominee lacks relevant expertise and may prioritize Saba's interests over those of other shareholders.

Risks

• The potential replacement of experienced trustees with a nominee lacking relevant expertise could negatively impact the fund's performance and objectives.
• Saba Capital's interests may not align with those of other shareholders, potentially leading to decisions that are not in the best interest of all investors.

Management Comments

• The Board unanimously recommends that ALL shareholders vote on the WHITE proxy card FOR the Funds four (4) qualified nominees.
• They are committed to protecting and advancing the interests of all shareholders by achieving the funds investment objectives, driving performance over the lifetime of the fund, delivering reliable income, and implementing optimal corporate governance practices.
• Saba Capital Management, L.P. (Saba) is attempting to undermine your Fund and your investment by replacing your experienced Trustees with its own, unqualified nominee.

Industry Context

Activist investors like Saba Capital Management often target closed-end funds to unlock value or influence fund strategy, leading to proxy contests like this one.

Stakeholder Impact

• Shareholders are directly impacted by the outcome of the vote, which will determine the composition of the board of trustees.
• The fund's performance and investment objectives could be affected by the outcome of the proxy contest.

Next Steps

• Shareholders need to vote using the WHITE proxy card.
• The fund will hold a meeting where the election of trustees will take place.

Keywords

proxy, trustees, Nuveen Real Asset Income & Growth Fund, Saba Capital Management, shareholders, corporate governance, investment management