- Filing of certain prospectuses and communications in connection with business combination transactions (425)
02 August 2012 - 5:23PM
Edgar (US Regulatory)
Filed by Nuveen Multi-Currency Short-Term Government Income Fund
pursuant to Rule 425 of the Securities Act of 1933, as amended
and deemed filed pursuant to Rule 14a-12
under the Securities and Exchange Act
of 1934, as amended
Subject Companies:
Global Income & Currency Fund Inc.
Commission File No. 811-21791
FOR IMMEDIATE RELEASE
ATTENTION: BUSINESS/FINANCIAL EDITORS
MEDIA CONTACT:
KRISTYNA MUNOZ
(312) 917-8343
KRISTYNA.MUNOZ@NUVEEN.COM
Nuveen Closed-End Currency Funds Announce Approval of
Portfolio Repositioning Plan and Merger
Restructuring Seeks to Enhance Funds Appeal and Narrow Discount
CHICAGO, August 1, 2012 Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors,
today announced that the Board of Trustees of the Global Currency and Income Fund (NYSE: GCF) and the Nuveen Multi-Currency Short-Term Government Income Fund (NYSE: JGT) approved a plan to reposition JGTs portfolio and subsequently to merge
GCF into JGT. The Board also approved changing JGTs name to Nuveen Diversified Currency Opportunities Fund. The portfolio repositioning and subsequent merger does not require approval from JGT shareholders. JGT shareholders, however, will
receive 60 days advance written notice before the name change is effective and the fund begins repositioning its portfolio. GCF will hold a special shareholder meeting later this year on the proposed merger with JGT.
The goal of the overall restructuring is to enhance the combined funds ability to generate competitive returns and narrow the funds trading
discount by:
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Simplifying the investment strategy to offer broad-based currency exposure and interest rate diversification;
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Expanding investment flexibility and the ability to manage risk by eliminating the current focus on investing in the highest yielding currencies and
the systematic U.S. dollar short-orientation; and
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Reducing fund expenses and increasing common share float, due to the larger scale of the combined fund.
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More information will be available on each funds webpage at
www.nuveen.com/cef
once proxy materials are filed in the coming weeks.
Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutional and individual
investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to capabilities of its high-quality boutique investment
affiliatesNuveen Asset Management, Symphony Asset Management, NWQ Investment Management Company, Santa Barbara Asset Management, Tradewinds Global Investors, Winslow Capital Management, and Gresham Investment Management. In total, Nuveen
Investments managed approximately $227 billion as of March 31, 2012. For more information, please visit the Nuveen Investments website at
www.nuveen.com
.
Nothing contained in this press release shall constitute an offer for sale of any securities. A Proxy
Statement relating to the proposed reorganization will be filed with the SEC in the coming weeks and will contain important information relating the reorganization. Shareholders are urged to read the Proxy Statement carefully. After they are filed,
free copies of the Proxy Statement will be available on the SECs web site at
www.sec.gov
.
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