NUVEEN MUTUAL FUNDS
SUPPLEMENT DATED OCTOBER 1, 2014
TO PROSPECTUSES AND SUMMARY PROSPECTUSES
Nuveen Municipal Trust |
Nuveen Investment Trust III | |
Prospectuses dated August 29, 2014 |
Prospectus dated January 15, 2014, as | |
supplemented | ||
Nuveen Multistate Trust I |
Prospectus and Summary Prospectuses dated | |
Prospectus dated September 30, 2014 |
January 31, 2014, as supplemented | |
Nuveen Multistate Trust II |
Nuveen Investment Trust V | |
Prospectuses and Summary Prospectuses dated |
Prospectuses and Summary Prospectuses dated | |
June 30, 2014, as supplemented |
January 31, 2014, as supplemented | |
Nuveen Multistate Trust III |
Nuveen Managed Accounts Portfolios Trust | |
Prospectus dated September 30, 2014 |
Prospectus dated November 29, 2013, as | |
supplemented | ||
Nuveen Multistate Trust IV |
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Prospectus dated September 30, 2014 |
Nuveen Investment Funds, Inc. | |
Prospectus and Summary Prospectuses dated | ||
Nuveen Investment Trust |
October 31, 2013, as supplemented | |
Prospectuses and Summary Prospectuses dated |
Prospectus and Summary Prospectuses dated | |
October 31, 2013, as supplemented |
February 28, 2014, as supplemented | |
Prospectuses and Summary Prospectuses dated |
Prospectuses and Summary Prospectuses dated | |
December 31, 2013, as supplemented |
April 30, 2014, as supplemented | |
Prospectus dated February 28, 2014, as supplemented |
Prospectus dated August 29, 2014 | |
Prospectus dated May 30, 2014 |
Prospectus dated September 30, 2014 | |
Prospectus and Summary Prospectuses dated |
September 30, 2014 | |
June 16, 2014, as supplemented |
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Nuveen Strategy Funds, Inc. | ||
Nuveen Investment Trust II |
Prospectus and Summary Prospectuses dated | |
Prospectuses and Summary Prospectuses dated |
December 31, 2013, as supplemented | |
November 29, 2013, as supplemented |
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Prospectus dated December 10, 2013, as supplemented |
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Prospectus and Summary Prospectuses dated |
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December 31, 2013, as supplemented |
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Prospectus and Summary Prospectuses dated |
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January 31, 2014, as supplemented |
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Prospectus and Summary Prospectus dated |
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May 13, 2014, as supplemented |
The section of each prospectus entitled How We Manage Your Money Who Manages the Fund is hereby amended to reflect the information set forth in this supplement. This supplement replaces the prospectus and summary prospectus supplement dated August 19, 2014.
On April 14, 2014, TIAA-CREF, a national financial services organization, announced that it had entered into a purchase agreement to acquire Nuveen Investments, Inc., the parent company of the funds investment adviser, Nuveen Fund Advisors, LLC. The acquisition closed on October 1, 2014 and Nuveen Investments became an indirect subsidiary of TIAA-CREF.
Because the consummation of the acquisition resulted in the assignment (as defined in the Investment Company Act of 1940) and automatic termination of the funds investment management agreements and investment sub-advisory agreements, fund shareholders were asked to approve new investment management agreements with Nuveen Fund Advisors, LLC and new investment sub-advisory agreements with each funds sub-adviser. Except as noted below, these new agreements were approved by shareholders of each of the funds, and went into effect on October 1, 2014. The terms of the new agreements, including the fees payable to each funds adviser and sub-adviser, are substantially identical to those of the investment management agreements and investment sub-advisory agreements in place immediately prior to the closing.
The following funds have not yet received sufficient votes to approve new investment management agreements and investment sub-advisory agreements:
Nuveen Equity Long/Short Fund*
Nuveen Mid Cap Index Fund
Nuveen Small Cap Index Fund
Nuveen NWQ Large-Cap Value Fund
The foregoing funds continue to seek shareholder approval of the new investment management agreements and investment sub-advisory agreements. In order assure continuing advisory services for the funds following the closing of the transaction, interim investment management agreements with Nuveen Fund Advisors, LLC and interim investment sub-advisory agreements with the funds respective sub-advisers were put in place. These interim agreements, which became effective on October 1, 2014, were approved by the funds Board of Directors/Trustees on April 30, 2014. Each funds interim investment management agreement and investment sub-advisory agreement contain terms substantially identical to the funds investment management agreement and investment sub-advisory agreement in effect immediately prior to the closing, and to the funds proposed new investment management and investment sub-advisory agreements, except for the term and escrow provisions described below. For each fund, the interim agreements will continue in effect for a term ending on the earlier of February 28, 2015 (150 days following the closing of the transaction) or when shareholder approval of the new investment management agreement and investment sub-advisory agreement is obtained. Compensation earned by the investment adviser or sub-adviser under an interim agreement will be held in an interest-bearing escrow account. If shareholders of a fund approve the new investment management and investment sub-advisory agreements prior to February 28, 2015, the amount held in the escrow accounts will be paid to the funds investment adviser and sub-adviser. If shareholders of a fund do not approve the new investment management agreement and new sub-advisory agreement prior to February 28, 2015, the Board of Directors/Trustees of the Fund will take such action as it deems to be in the best interests of the fund and the funds investment adviser and sub-adviser will be paid the lesser of their costs incurred in performing their services under the interim agreements or the total amount in the escrow accounts, plus interest earned.
* | Shareholders of Nuveen Equity Long/Short Fund have approved a new investment management agreement, but have not yet approved a new investment sub-advisory agreement. Consequently, an interim investment sub-advisory agreement will be put in place for this fund on October 1, 2014. |
PLEASE KEEP THIS WITH YOUR
FUNDS PROSPECTUS AND/OR SUMMARY PROSPECTUS
FOR FUTURE REFERENCE
MGN-ALLSP-1014P