Shareholders of Nuveen Core Equity Alpha Fund (NYSE: JCE) approved all items submitted for approval, including the proposal changing the fund’s sub-advisor for its equity portfolio to Nuveen Asset Management. While the investment objective and overall investment strategy of the fund remain the same, going forward the equity portfolio will be managed using Nuveen’s proprietary quantitative model and the related changes to the fund’s investment policies described in the fund’s proxy statement will become effective. As a result of the approval, portfolio management responsibilities will also be updated as described in the table below.
The Board of Trustees of Nuveen Core Equity Alpha Fund (NYSE: JCE) approved certain changes to the fund’s sub-advisory arrangements with Nuveen Asset Management, LLC and Intech Investment Management LLC, subject to shareholder approval. If approved as proposed, Nuveen Asset Management, which is currently responsible for managing the fund’s options overwrite strategy, would also assume portfolio management responsibilities for the fund’s equity portfolio. Further, the sub-advisory agreement with Intech Investment Management, which is currently responsible for managing the fund’s equity portfolio, would be terminated. The Board also approved changes to certain investment policies in connection with the hiring of Nuveen Asset Management for the fund’s equity portfolio.