Nuveen Energy MLP Total Return Fund (NYSE: JMF) and the Nuveen All Cap Energy MLP Opportunities Fund (NYSE: JMLP) announced that both funds intend to liquidate and distribute their net assets to shareholders. Upon completing a review of potential actions in response to the unprecedented downturn in the midstream MLP sector, each fund’s Board of Trustees concluded that liquidation and closure was in the best interest of shareholders.
The funds will begin the orderly liquidation of their assets, determine and pay, or set aside an amount at least equal to, all known or reasonably ascertainable liabilities and obligations. As the funds’ portfolio securities continue to be sold, the funds may deviate from their investment objectives and policies. The funds will make one or more liquidating distributions. It is anticipated that liquidating distributions will begin being paid on May 8, 2020.
The funds have fixed the close of business on May 8, 2020, as the effective date for determining the common shareholders of the funds entitled to receive liquidating distributions. The funds will continue trading on the New York Stock Exchange through May 4, 2020 and will be suspended from trading before the open of trading on May 5, 2020, after which time there will be no secondary market for the funds’ shares.
Shareholders may recognize gain or loss for U.S. tax purposes as a result of the liquidations. Nuveen does not provide tax advice; investors should consult a professional tax advisor regarding their specific tax situation.
In connection with the liquidation, the funds will accelerate payment of their previously announced regular, quarterly distributions. The following dates apply to the distributions previously announced on April 2, 2020:
Record Date | April 15, 2020 |
Ex-Dividend Date | April 14, 2020 |
Payable Date | May 1, 2020 |
For more information, please visit Nuveen’s CEF homepage www.nuveen.com/closed-end-funds.
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.1 trillion in assets under management as of 31 December 2019 and operations in 24 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.
Nuveen Securities, LLC, member FINRA and SIPC.
The information contained on the Nuveen website is not a part of this press release.
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