Glass Lewis Backs Nuveen Board Nominees

TL;DR

Glass Lewis says vote YES for Nuveen's board picks.

AI Summary

Nuveen Real Asset Income & Growth Fund announced on May 13, 2024, that Glass Lewis, a leading independent proxy advisory firm, has recommended that shareholders vote in favor of Nuveen's board nominees. This endorsement is a significant development in the fund's proxy solicitation efforts.

Why It Matters

The recommendation from Glass Lewis, a key influencer of institutional investor voting, increases the likelihood that Nuveen's proposed board members will be elected, impacting the fund's future strategy and governance.

Risk Assessment

Risk Level: low — The filing is a routine proxy statement and does not indicate any immediate financial distress or significant operational changes.

Key Players & Entities

• Nuveen Real Asset Income & Growth Fund (company) — Registrant
• Glass Lewis (company) — Proxy Advisory Firm
• Nuveen (company) — Fund Manager/Board Nominee Provider
• May 13, 2024 (date) — Announcement Date

FAQ

Key Financial Figures

• $1.2 — al and individual investors. Nuveen has $1.2 trillion in assets under management as

Filing Documents

• d792432ddefa14a.htm (DEFA14A) — 18KB
• g794264g42w49.jpg (GRAPHIC) — 8KB
• 0001193125-24-137225.txt ( ) — 29KB

From the Filing

REAL ASSET INCOME & GROWTH FUND Nuveen Real Asset Income & Growth Fund UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 14A Proxy Securities Exchange Act of 1934 (Amendment No.) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to 240.14a-12 Nuveen Real Asset Income and Growth Fund (Exact Name of Registrant as Specified in its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. Nuveen Closed-End Funds Announce Leading Independent Proxy Advisory Firm, Glass Lewis, Fully Supports Nuveens Board Nominees NEW YORK, May 13, 2024 The Boards of Trustees of certain Nuveen closed-end funds announced today that Glass Lewis, a leading independent proxy advisory firm, recommended that shareholders vote on the WHITE proxy cards FOR all of the Board Nominees of Nuveen Real Asset Income and Growth Fund (NYSE: JRI), Nuveen Core Plus Impact Fund (NYSE: NPCT), Nuveen Multi-Asset Income Fund (NYSE: NMAI) and Nuveen Variable Rate Preferred & Income Fund (NYSE: NPFD) (the Funds) in connection with the Funds annual meetings, scheduled to be held on May 15, 2024. Glass Lewis specifically recommended that shareholders vote FOR all of the Boards qualified Trustees: Joanne T. Medero, Albin F. Moschner, Loren M. Starr, Matthew Thornton III and Margaret L. Wolff. In making its recommendation for Nuveens nominees, Glass Lewis rejected the nominee submitted by dissident shareholder, Saba Capital Management, L.P. (Saba). We appreciate Glass Lewis for its recognition of Nuveens stewardship and deep commitment to advancing the interests of shareholders. Our Trustees are highly qualified and devoted to ensuring that each of these funds achieves their investment objective and delivers the attractive, reliable distributions that matter most to closed-end fund investors. Glass Lewis recognized that the dissidents candidate had no credible experience or plan, and that the true aim of this fight is to force short-term changes that would harm the funds and their shareholders in the long term. We thank Glass Lewis for its clarity and sound guidance, and we appreciate the support from shareholders as we continue to protect their best interests, said Dave Lamb, Head of Nuveen Closed-End Funds. Important statements by Glass Lewis 1 in issuing its voting recommendations FOR the Funds Board Nominees include: The Funds Trustees Have Taken Actions to Protect and Advance the Interests of All Shareholders the incumbent trustees of the Funds have demonstrated a reasonable level of attention and awareness regarding matters pertaining to the Funds discount to NAV. We understand that the board and trustees of each Fund have considered and taken a variety of steps in connection with efforts to reduce the discount to NAV. 1 Permission to quote from the Glass Lewis report was neither sought nor obtained. Saba Has Not Offered a Compelling Plan to Create Value for Fund Shareholders it appears that Saba has not offered anything approaching a thorough or meaningful analysis of Fund discounts to NAV relative to peer funds or other relevant benchmarks. Saba has not offered any substantive arguments to justify the removal of specific individual trustees or to oppose the election of any of the Management Nominees, in our view. Sabas Unqualified Nominee Has No Board Experience and No Expertise in Closed-End Funds we do have some outstanding concern that Sabas nominee lacks prior closed-end fund experience and does not appear to have any prior experience serving on the board of a publicly listed investment fund or publicly traded company. While Saba states that the Dissident Nominee would seek to reduce the Funds discount to NAV if elected, we have not seen the Dissident offer a credible plan to do so here. Of course, there is also our concern that Saba may have a short-term interest in pursuing a liquidity event at the Fund, potentially in a manner that could negatively impact the interests of long-term shareholders, in our view. Ultimately, without a good reason to elect Sabas nominee, we do not believe it would be in the best interests of all shareholders to do so. PROTECT YOUR FUND AND YOUR INVESTMENT VOTE FOR YOUR TRUSTEES ON THE WHITE PROXY CARD TODAY. Do not sign or return any card sent to you by Saba, even to vote against or to withhold or to abstain with respect to the dissidents proposals. Only your latest dated proxy will be counted. If you have any questions about the proposals or the voting in

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