Nuveen

Board Announces Removal of Merger Proposals from Annual Meeting Agenda

Retrieved on: 
Thursday, October 19, 2023

The Boards of Trustees of Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) and Nuveen Quality Municipal Income Fund (NYSE:NAD) as well as Nuveen Massachusetts Quality Municipal Income Fund (NYSE:NMT) and Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) announce the removal of a previously approved merger proposal from each funds’ upcoming shareholder meeting agenda.

Key Points: 
  • The Boards of Trustees of Nuveen New Jersey Quality Municipal Income Fund (NYSE:NXJ) and Nuveen Quality Municipal Income Fund (NYSE:NAD) as well as Nuveen Massachusetts Quality Municipal Income Fund (NYSE:NMT) and Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) announce the removal of a previously approved merger proposal from each funds’ upcoming shareholder meeting agenda.
  • Previously, the Board of Trustees of each respective fund approved the merger of NXJ into NAD and the merger of NMT into NEA.
  • The Boards of Trustees of each fund considered current market conditions and other relevant considerations for each fund in assessing whether to move forward with the proposed merger.
  • It was determined that the proxy solicitation process and its associated costs would not be in the best interests of each fund’s shareholders, therefore resulting in the removal of the merger proposal from the upcoming shareholder meeting agendas.

Saifr® to Sponsor The Summit for Asset Management (TSAM) New York 2023

Retrieved on: 
Wednesday, October 18, 2023

Saifr® , a regulatory technology (RegTech) business that helps financial services professionals mitigate brand, regulatory, and reputational risk in public communications, will be an exhibitor, sponsor, and speaker at The Summit for Asset Management (TSAM) New York on October 31, 2023.

Key Points: 
  • Saifr® , a regulatory technology (RegTech) business that helps financial services professionals mitigate brand, regulatory, and reputational risk in public communications, will be an exhibitor, sponsor, and speaker at The Summit for Asset Management (TSAM) New York on October 31, 2023.
  • The Saifr team will have a booth showcasing how its solutions help marketing and compliance teams reduce risk exposure, streamline collaboration, and create more compliant content up to 10x faster.
  • SaifrReview® is an innovative enterprise workflow software that simplifies the development and approval of public communications by centralizing content review and fostering cross-team collaboration.
  • TSAM New York gathers financial services professionals including asset managers, advisors, and more to tackle the industry’s latest challenges and opportunities, including evolving regulations and technology.

Arta Finance Officially Opens to all Qualified Investors, Announces $100 Million in Member Assets

Retrieved on: 
Wednesday, October 18, 2023

MOUNTAIN VIEW, Calif., Oct. 18, 2023 /PRNewswire/ -- Arta Finance, a fintech company transforming the way people grow, protect and enjoy their wealth, today announced it has officially opened its digital family office platform to all qualified investors in the US. Arta came out of stealth in late 2022 after raising over $90 million and started onboarding members through an invite-only program earlier this year. Since then, Arta has significantly expanded its product offering, and hired industry leaders to scale the platform in the U.S. and beyond. Members have trusted Arta to manage more than $100 million on their behalf and are deepening their engagement with the platform to create better financial futures for themselves and their families.

Key Points: 
  • Arta came out of stealth in late 2022 after raising over $90 million and started onboarding members through an invite-only program earlier this year.
  • The increasing divide in wealth indicates continued inequality in wealth-generating opportunities – what Arta terms the 'financial superpowers' – for the vast majority of people.
  • Arta Finance addresses this by providing access to investment opportunities and financial strategies typically only available to the ultra-wealthy via family offices and private banks.
  • Arta Finance is currently available to individuals who meet the SEC definition of either Accredited Investor, Qualified Purchaser, or Qualified Client.

Churchill’s Saheedat Onifade Named Among Black Women in Asset Management’s 40 Under 40

Retrieved on: 
Monday, October 16, 2023

Churchill Asset Management (“Churchill”) announced today that Saheedat Onifade, Principal and Investment Strategist, has been selected as one of the recipients of the 2023 Black Women in Asset Management (BWAM) 40 Under 40 Award in the Sales and Investor Relations category.

Key Points: 
  • Churchill Asset Management (“Churchill”) announced today that Saheedat Onifade, Principal and Investment Strategist, has been selected as one of the recipients of the 2023 Black Women in Asset Management (BWAM) 40 Under 40 Award in the Sales and Investor Relations category.
  • The BWAM 40 Under 40 Award is designed to celebrate the accomplishments of inspiring Black women in asset management.
  • “We are delighted to see Saheedat recognized among this esteemed group of women,” said Ken Kencel, President & CEO of Churchill Asset Management.
  • The winners of the 2023 BWAM 40 Under 40 Award were recognized at an event in London on October 5.

Nuveen Preferred & Income Closed-End Funds Announce Shareholder Approval of Proposed Mergers

Retrieved on: 
Friday, October 13, 2023

Common and preferred shareholders, as applicable, of Nuveen Preferred and Income Fund (NYSE: JPT), Nuveen Preferred & Income Securities Fund (NYSE: JPS), and Nuveen Preferred & Income Opportunities Fund (NYSE: JPC) have approved a proposal to merge the funds.

Key Points: 
  • Common and preferred shareholders, as applicable, of Nuveen Preferred and Income Fund (NYSE: JPT), Nuveen Preferred & Income Securities Fund (NYSE: JPS), and Nuveen Preferred & Income Opportunities Fund (NYSE: JPC) have approved a proposal to merge the funds.
  • Subject to the satisfaction of certain customary closing conditions, the mergers are expected to become effective before the market opens on November 6, 2023.
  • Nuveen is a leading sponsor of closed-end funds (CEFs) with $53 billion of assets under management across 51 CEFs as of 30 Jun 2023.
  • The funds offer exposure to a broad range of asset classes and are designed for income-focused investors seeking regular distributions.

Northleaf Commits $200 Million to EVPassport, Open API-Driven Electric Vehicle Charging Platform

Retrieved on: 
Thursday, October 12, 2023

Funds managed by Northleaf have committed $200 million to fund EVPassport’s capital requirements and accelerate the build-out of EV charging systems.

Key Points: 
  • Funds managed by Northleaf have committed $200 million to fund EVPassport’s capital requirements and accelerate the build-out of EV charging systems.
  • EVPassport provides an end-to-end EV charging solution to both enterprise and commercial businesses.
  • The company utilizes an innovative business model that allows for charging infrastructure to be installed under an infrastructure-as-a-service (“IaaS”) model, supporting its client base with turnkey solutions.
  • This contractual framework is paired with an advanced technology platform that prioritizes the customer experience through high reliability, open API integrations, and an app-less charging experience.

Perch Energy Raises $30M from Nuveen to Accelerate the Growth of Community Solar & Expand Access to Clean Energy Savings for All

Retrieved on: 
Wednesday, October 11, 2023

The partnership will also provide Perch with access to Nuveen’s strategic portfolio of affordable housing units and residential apartments.

Key Points: 
  • The partnership will also provide Perch with access to Nuveen’s strategic portfolio of affordable housing units and residential apartments.
  • Reaching low-to-moderate-income (LMI) consumers is key to democratizing solar energy and ensuring that the clean energy future is equitable.
  • “Perch’s community solar platform allows everyone to access the cost-savings of solar power, especially those who need it most, while supporting a cleaner energy future.
  • “We are excited to bring our impact expertise and broader Nuveen platform to Perch to provide inclusive access to solar savings for households.

Nuveen Formalizes Co-PM Structure Across Municipal Platform

Retrieved on: 
Friday, October 13, 2023

NEW YORK, Oct. 13, 2023 /PRNewswire/ -- Aligned with the firm's proud heritage and culture of taking a team-based approach to investing, Nuveen, the investment manager of TIAA, is formalizing a co-portfolio manager structure across its municipal platform, naming additional managers to 27 mutual funds and 24 closed-ends funds. These strategies account for $52 billion out of the firm's $188 billion1 municipal assets under management. The key tenets of the team's proven investment and research processes remain unchanged.  

Key Points: 
  • These strategies account for $52 billion out of the firm's $188 billion1 municipal assets under management.
  • "Nuveen's municipal platform is one of the largest, longest-tenured and most successful in the asset class and our culture and success have always been fueled by our team-based approach to investing," said Dan Close, Head of Municipals, Nuveen.
  • "Reflecting our conviction that collaboration is a key driver of performance, today we're taking the administrative step of solidifying the co-portfolio manager structure across the entirety of our fund lineup."
  • Nuveen also announces today the upcoming retirement of tenured municipal investor, Chris Drahn, who served the firm with distinction since 1980.

Board Announces Removal of Merger Proposal from Annual Meeting Agenda

Retrieved on: 
Friday, September 29, 2023

The Boards of Trustees of Nuveen Pennsylvania Quality Municipal Income Fund (NYSE: NQP) and Nuveen AMT-Free Municipal Credit Income Fund (NYSE: NVG) announce the removal of a previously approved merger proposal from the funds’ upcoming annual meeting agenda.

Key Points: 
  • The Boards of Trustees of Nuveen Pennsylvania Quality Municipal Income Fund (NYSE: NQP) and Nuveen AMT-Free Municipal Credit Income Fund (NYSE: NVG) announce the removal of a previously approved merger proposal from the funds’ upcoming annual meeting agenda.
  • The Boards of Trustees considered current market conditions and other relevant considerations for each fund in assessing whether to move forward with the proposed merger.
  • It was determined that the proxy solicitation process and its associated costs would not be in the best interests of shareholders, therefore resulting in the removal of this proposal from the upcoming annual shareholder meeting agenda.
  • The funds offer exposure to a broad range of asset classes and are designed for income-focused investors seeking regular distributions.

Nuveen Municipal Income Fund, Inc. Announces Update to Investment Policies

Retrieved on: 
Friday, September 29, 2023

The Board of Trustees of Nuveen Municipal Income Fund, Inc. (NYSE: NMI) has approved certain investment policy changes for the fund.

Key Points: 
  • The Board of Trustees of Nuveen Municipal Income Fund, Inc. (NYSE: NMI) has approved certain investment policy changes for the fund.
  • The fund’s investment objective to provide a high level of current income exempt from federal income tax remains unchanged.
  • The policy changes grant the fund more flexibility to invest in lower rated municipal securities.
  • Nuveen is a leading sponsor of closed-end funds (CEFs) with $53 billion of assets under management across 51 CEFs as of 30 Jun 2023.