is preparing a new closed-end exchange traded fund for a June launch. It will be the Nuveen Quality Preferred Income Fund. For Nuveen, this represents the first fund in this asset category.
"A portfolio of investment grade taxable preferred securities may provide investors with high current income and potentially enhanced capital preservation, given these securities' low correlation with many other asset classes," stated Paul Williams, vice president for closed-end exchange-traded fund development at the firm. "Taxable preferred securities may add strategic diversification and balance to an investor's overall portfolio."
Salomon Smith Barney
will serve as lead underwriter.
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