Business Context and Reporting Period
This Form 8-K was filed by Nuveen Multi-Asset Income Fund (NMAI) on December 15, 2021. The filing reports a corporate governance event regarding the restructuring of the Fund's investment advisory relationships.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on operational changes to sub-advisory agreements.
Material Changes
- Termination of Sub-Advisory Agreements: The Fund's investment adviser, Nuveen Fund Advisors, LLC, terminated agreements with NWQ Investment Management Company, LLC and Santa Barbara Asset Management, LLC, effective December 31, 2021.
- Personnel and Asset Transfer: Investment management personnel from the terminated sub-advisers are transferring to Nuveen Asset Management, LLC. Fund assets previously managed by NWQ and Santa Barbara will be reallocated to Nuveen Asset Management on the effective date.
- Continuity of Management: The portfolio managers currently serving under NWQ and Santa Barbara will continue in their roles as personnel of Nuveen Asset Management.
Outlook, Risks, and Management Commentary
Management states that the terms of Nuveen Asset Management's existing sub-advisory agreement are substantially identical to those of the terminated agreements. Consequently, the Fund expects:
- No impact on the Fund's fees.
- No impact on the Fund's investment objective or policies.
All entities involved (Nuveen Fund Advisors, Nuveen Asset Management, NWQ, and Santa Barbara) are subsidiaries of Nuveen, LLC.
Key Facts for Investor Verification
- Confirm the effective date of the sub-advisory transition is December 31, 2021.
- Verify that no changes to the Fund's fee structure or investment policies accompany this transition.
- Note that the change is an internal restructuring within the Nuveen, LLC family of subsidiaries.