Nuveen Closed-End Funds Declare Quarterly Distributions

Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today declared regular quarterly distributions for 14 Nuveen closed-end funds. These funds represent a broad range of investment strategies for investors seeking to build sophisticated and diversified long-term investment portfolios to deliver cash flow.

Each of the 14 funds has adopted a managed distribution program. The goal of a fund’s managed distribution program is to provide shareholders relatively consistent and predictable cash flow by systematically converting its expected long-term return potential into regular distributions. As a result, regular distributions throughout the year will likely include a portion of expected long-term gains (both realized and unrealized), along with net investment income and/or a return of capital.

Important points to understand about Nuveen fund managed distributions are:

  • Each Nuveen fund seeks to establish a relatively stable distribution rate that roughly corresponds to the projected total return from its investment strategy over an extended period of time. However, you should not draw any conclusions about a fund’s past or future investment performance from its current distribution rate.
  • Actual returns will differ from projected long-term returns (and therefore a fund’s distribution rate), at least over shorter time periods. Over a specific timeframe, the difference between actual returns and total distributions will be reflected in an increasing (returns exceed distributions) or a decreasing (distributions exceed returns) fund net asset value.
  • Each quarter’s distributions are expected to be paid from some or all of the following sources:
    • net investment income (regular interest and dividends),
    • realized capital gains, and
    • unrealized gains, or, in certain cases, a return of principal (non-taxable distributions)
  • A non-taxable distribution is a payment of a portion of the fund’s capital. When fund returns exceed distributions, it may represent portfolio gains earned, but not realized as a taxable capital gain. In periods when fund returns fall short of distributions, it will represent a portion of your original principal unless the shortfall is offset during other time periods over the life of your investment (previous or subsequent) when the fund’s total return exceeds distributions.
  • Because distribution source estimates are updated quarterly based on a fund’s performance and forecast for its current fiscal year (which is the calendar year for all the funds listed below), these estimates may differ from both the tax information reported to you in your fund’s 1099 statement, as well as the ultimate economic sources of distributions over the life of your investment.

Information regarding each fund’s distributions and total return performance over various time periods, as well as estimates of the tax characteristics of each fund’s distribution sources, reflecting year-to-date cumulative experience will be sent to shareholders with their distributions, and posted on . These estimates are for informational purposes only. The estimates are calculated on a tax basis rather than on a generally accepted accounting principles (GAAP) basis, but should not be used for tax reporting purposes. The actual amounts and sources for tax reporting purposes will depend upon each fund’s investment experience during the remainder of its fiscal year.

Distributions from Nuveen's taxable closed-end funds are generally subject to Federal income taxes. In addition, distributions for certain funds investing in real estate investment trusts (REITs) may later be characterized as capital gains and/or a return of capital, depending on the character of the dividends reported to each fund after year-end by REIT securities held by each fund. Most of Nuveen’s managed distribution funds may invest in REITs. The final determination of the source and tax characteristics of all distributions will be made early in the calendar year and reported to shareholders on Form 1099-DIV and the Nuveen web site at that time.

The following dates apply to today’s distribution declarations:

Record DateDecember 15, 2009
Ex-Dividend DateDecember 11, 2009
Payable DateDecember 31, 2009
Quarterly Taxable
Distribution Per Share
Change From


Global Equity

JGV Nuveen Global Value Opportunities Fund .3000 .0200


JTA Tax-Advantaged Total Return Strategy Fund .2400 .0100
JTD Nuveen Tax-Advantaged Dividend Growth Fund .2600 .0100
JCE Core Equity Alpha Fund .2800 -

Real Estate

JRS Real Estate Income Fund .2200 -

Equity Option

JPZ Equity Premium Income Fund .3200 -
JSN Equity Premium Opportunity Fund .3360 -
JLA Equity Premium Advantage Fund .3310 -
JPG Equity Premium and Growth Fund .2800 -


JDD Diversified Dividend and Income Fund .2350 .0150


JPC Multi-Strategy Income and Growth Fund .1700 .0150
JQC Multi-Strategy Income and Growth Fund 2 .1750 .0150

Global Debt

JGG Global Government Enhanced Income Fund .3900 -
JGT Nuveen Multi-Currency Short-Term Govt Income Fund .3770 -

Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions and high net worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high-quality brands of HydePark, NWQ, Nuveen, Santa Barbara, Symphony, Tradewinds and Winslow Capital. In total, the Company managed $141 billion of assets on September 30, 2009. For more information, please visit the Nuveen Investments website at


Nuveen Investments
Media Contact:
Kristyna Sujata
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