Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today declared regular monthly distributions for the Nuveen Tax-Advantaged Floating Rate Fund (NYSE: JFP).
As previously announced on August 12, 2008, JFP has implemented a managed distribution program. Because of price declines in this fund's portfolio securities and its consequent realized and unrealized capital losses since inception, the fund presently expects that the portion of its distributions not representing net investment income will be characterized as a non-taxable return of capital, even if that portion is sourced from NAV appreciation realized subsequent to the fund's implementation of its new distribution policy.
Important points to understand about JFP's managed distributions are:
- The fund seeks to establish a relatively stable distribution rate that roughly corresponds to the projected total return from its investment strategy over an extended period of time. However, investors should not draw any conclusions about the fund's past or future investment performance from its current distribution rate.
- Actual returns will differ from projected long-term returns (and therefore the fund's distribution rate), at least over shorter time periods. Over a specific timeframe, the difference between actual returns and total distributions will be reflected in an increasing (returns exceed distributions) or a decreasing (distributions exceed returns) fund net asset value.
- Each month's distributions are expected to be paid from some or all of
the following sources:
- net investment income (regular interest and dividends),
- realized capital gains, and
- unrealized gains, or, in certain cases, a return of principal (non-taxable distributions)
- A non-taxable distribution is a payment of a portion of the fund's capital. When fund returns exceed distributions, it may represent portfolio gains earned, but not realized as a taxable capital gain. In periods when fund returns fall short of distributions, it will represent a portion of an investor's original principal unless the shortfall is offset during other time periods over the life of the investment (previous or subsequent) when the fund's total return exceeds distributions.
- Because distribution source estimates are updated monthly throughout the year based on the fund's performance and forecast, these estimates may differ from both the tax information reported to investors in their 1099-DIV statement, as well as the ultimate economic sources of distributions over the life of the investment in the fund.
Information and estimates regarding this fund's distributions and total return performance over various time periods will be sent to shareholders with its distributions, and posted on www.nuveen.com/cef. Estimates are for informational purposes only. Estimates are calculated on a tax basis rather than on a generally accepted accounting principles (GAAP) basis, but should not be used for tax reporting purposes. The actual amounts and sources for tax reporting purposes will depend upon the fund's investment experience during the remainder of its fiscal year. The final determination of the source and tax characteristics of all distributions will be made in early 2009 and reported to shareholders on Form 1099-DIV at that time.
The following dates apply to today's distribution declarations:
|  |  |  |  |  | Record Date |  |  | December 15, 2008 |
Ex-Dividend Date | December 11, 2008 | |||||||
| Payable Date | December 31, 2008 |
|  |  |  |  |  | Quarterly Distribution Per Share | |||
| Change From | ||||||||
| Amount | Previous Quarter | |||||||
Ticker | Floating Rate: Tax Advantaged | |||||||
| JFP | Tax-Advantaged Floating Rate Fund | .0550 | (.0050) | |||||
Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions and high net worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high-quality brands of HydePark, NWQ, Nuveen, Rittenhouse, Santa Barbara, Symphony and Tradewinds. In total, the Company managed $134 billion of assets on September 30, 2008. For more information, please visit the Nuveen Investments website at www.nuveen.com.
