Nuv.floating Rate In : Nuveen Floating Rate Income Fund Data Now Available
July 03, 2006 at 10:54 am EDT
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Nuveen Investments, a leading provider of diversified
investment services, today announced that the latest fund data for the
Nuveen Floating Rate Income Fund (NYSE:JFR) is now available. The
information is posted on Nuveen's web site at
(http://www.nuveen.com/ETF/products/fqf.aspx?fundid=JFR). For further
information, call 800-257-8787 or write to Nuveen Investments, 333 W.
Wacker Drive, Chicago, IL 60606.
Standard information available for Nuveen exchange-traded
closed-end funds includes pricing, performance, share price, NAV,
premium/discount history, distribution history and expense ratios.
Additional information is also available and updated regularly,
including:
Monthly Portfolio Holdings: A complete list of the individual
securities held in a fund's portfolio. This information is updated
monthly.
Earnings Rates: Average monthly earnings per common share for each
fund, calculated using actual earnings over the previous three months.
UNII Balance: Average undistributed net investment income balance
per common share, calculated using the month-end balances of each of
the previous three months.
About Nuveen Investments
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 highly
specialized investment teams, each with its own brand name and area of
expertise: NWQ, specializing in value-style equities; Nuveen, managing
fixed-income investments; Santa Barbara, committed to growth equities;
Tradewinds NWQ, specializing in global value equities; Rittenhouse,
focused on "blue-chip" growth equities; and Symphony, with expertise
in alternative investments as well as equity and income portfolios. In
total, the Company manages $145 billion in assets. Nuveen Investments
is listed on The New York Stock Exchange and trades under the symbol
"JNC."
About Nuveen exchange-traded closed-end funds
Nuveen funds strive to provide dependable monthly dividends over
time. Generally, there will be a close relationship between what a
fund earns (net of expenses) and what it pays in dividends. However,
since net earnings rates will fluctuate from month to month while
dividends tend to remain relatively stable, there will be periods when
a fund may modestly overearn or underearn its dividend. This results
in additions to or draws from the fund's undistributed net investment
income (UNII) balance. Just as earnings rates may vary, the
appropriate UNII balance for each fund may vary over time because of
fund activity or market factors. The fund's board looks at a fund's
current and anticipated net earnings rates, as well as the fund's
current and desired amounts of UNII, when setting monthly dividends.
More details about the estimated composition of the distributions of
Nuveen taxable funds are also available and updated monthly on
www.nuveen.com/cef.
Nuveen Floating Rate Income Fund (the Fund) is a closed-end management investment company. The Fund seeks to achieve a high level of current income by investing in secured senior loans and unsecured senior loans. The Company invests in adjustable-rate loans, which provide a potential hedge against rising short-term rates. Under normal market circumstances, the Fund will invest at least 80% of its managed assets in adjustable-rate loans. In addition, the Fund invests at least 65% of its managed assets in senior loans that are secured by specific collateral. Its other loans include unsecured senior loans and secured and unsecured subordinated loans. The sectors covered by the portfolio include hotels, restaurants and leisure; software; media; health care providers and services, and oil, gas and consumable fuels. It also invests in the United States, Canada, the United Kingdom, Luxembourg, and the Netherlands. Nuveen Fund Advisors, LLC, is the Fundâs investment adviser.