Nuveen Investments is repositioning the existing portfolio of the Nuveen Multi-Strategy Income and Growth Fund 2 and implementing a single-strategy, debt-oriented approach. The mutual fund’s investment objective of high current income with a secondary aim of total return will continue to remain the same.
The fund will be renamed as the Nuveen Credit Strategies Income Fund. The move is intended to boost the fund’s common shares and narrow its trading discount by concentrating on a present core portfolio strategy. The fund will be positioned in a closed-end fund category and differentiated from similar funds.
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