Nuveen Equity Long/Short Fund Class I

The fund's core objective is to generate substantial capital appreciation over an extended period, specifically seeking low correlation with the overall U.S. equity market. It pursues this goal by establishing a diversified portfolio of equity securities, utilizing both long (buying) and short (selling borrowed) positions. A key characteristic is that nearly all the stocks held, whether long or short, will be components of the Russell 1000 Index – its benchmark – at the moment the investment is made. This strategy naturally leads to a significant allocation towards large-capitalization enterprises.