Nuveen Merges Currency Funds

By:
Hamish Risk
Published on:

Nuveen Investments Inc., the asset manager owned by Madison Dearborn Partners LLC, it has completed the merge of its Global Income and Currency Fund into its Diversified Currency Opportunities Fund. Nuveen said the Diversified Currency Fund acquired all the assets and liabilities of the Global Income and Currency Fund, in a statement.

In the merger, JGT (Nuveen Diversified Currency Opportunities Fund) acquired substantially all of the assets and liabilities of GCF (Global Income and Currency Fund), in a tax-free transaction in exchange for an equal aggregate value of newly-issued common shares. The exchange took place based upon the funds’ closing net asset values on December 7, 2012, the company said.