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JEMD - Cashing Out The NAV Discount With Nuveen's Term Fund Structure
Nuveen Emerging Markets Debt 2022 Target Term Fund of Beneficial Interest $0.01 par value per share
Author's note: This article was co-produced with Beer Money Arb and was originally released to CEF/ETF Income Laboratory members on October 17, 2019.
Recently two Nuveen term funds underwent a tender offer with interesting terms and conditions attached that I discussed in a previous blog post. The final results came out, and only one fund will survive past its term date, the Nuveen Mortgage Opportunity Term Fund (JLS), while the other, Nuveen Mortgage Opportunity Term Fund 2 (JMT), will liquidate on its term date.