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Nuveen Preferred Securities Fund swaps out primary benchmark index
By Toni Weeks
San Diego, March 12 - The Nuveen Preferred Securities Fund swapped its primary benchmark index, according to a 497 filing with the Securities and Exchange Commission.
Going forward, the fund will compare its performance to the Bank of America Merrill Lynch Fixed Rate Preferred Index and a market benchmark comprised of the Bank of America Merrill Lynch U.S. Preferred Stock Fixed Rate Index with a 65% weighting and the Barclays Capital USD Capital Securities Index with a 35% weighting. Previously, the fund used the Bank of America Merrill Lynch Preferred Stock Hybrid Securities Index as its benchmark.
Chicago-based Nuveen Fund Advisors, Inc. serves as the investment adviser to the funds.
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