https://www.sec.gov/Archives/edgar/data/1041673/000119312522211741/d371429d497.htm497 1 d371429d497.htm NUVEEN INVESTMENT TRUST II
NUVEEN INTERNATIONAL GROWTH FUND
SUPPLEMENT DATED AUGUST 4, 2022
TO THE PROSPECTUS AND SUMMARY PROSPECTUS DATED DECEMBER 1, 2021
Proposed Reorganization of
Nuveen International Growth Fund into
TIAA-CREF International Opportunities Fund
The Board of Trustees of Nuveen Investment Trust II (“NIT II”) and the Board of Trustees of TIAA-CREF Funds (“TC Funds”) have each approved the reorganization of Nuveen International Growth Fund (the “Target Fund”), a series of NIT II, into TIAA-CREF International Opportunities Fund (the “Acquiring Fund”), a series of TC Funds. In order for the reorganization to occur, it must be approved by the shareholders of the Target Fund.
If the Target Fund’s shareholders approve the reorganization, the Target Fund will transfer all of its assets and liabilities to the Acquiring Fund in exchange for Acquiring Fund shares of equal value. These Acquiring Fund shares will then be distributed to Target Fund shareholders and the Target Fund will be terminated. As a result of these transactions, Target Fund shareholders will become shareholders of the Acquiring Fund and will cease to be shareholders of the Target Fund. Each Target Fund shareholder will receive Acquiring Fund shares with a total value equal to the total value of that shareholder’s Target Fund shares immediately prior to the closing of the reorganization. It is expected that the reorganization will qualify as a tax-free reorganization for federal income tax purposes and that Target Fund shareholders will not recognize any gain or loss as a result of the reorganization. However, Target Fund shareholders will receive a distribution of substantially all net income and/or realized gains, if any, prior to the reorganization.
A special meeting of the Target Fund’s shareholders for the purpose of voting on the reorganization is expected to be held in early October 2022. If the required approval is obtained, it is anticipated that the reorganization will be consummated approximately 15-30 days after the special shareholder meeting. Further information regarding the proposed reorganization will be contained in proxy materials that are expected to be sent to shareholders of the Target Fund in September 2022.
The Target Fund will continue sales and redemptions of its shares as described in the prospectus until shortly before its reorganization. However, holders of shares purchased after the record date set for the Target Fund’s special meeting of shareholders will not be entitled to vote those shares at the special meeting.
PLEASE KEEP THIS WITH YOUR PROSPECTUS
AND/OR SUMMARY PROSPECTUS
FOR FUTURE REFERENCE
Comments
It is surprising how slow TIAA has been on doing this (after all, TIAA bought OLD Nuveen in 2014; later, to confuse the matters, it rebranded its entire fund arm as NEW Nuveen). They may have made promises to keep the old Nuveen operations going on for a while. Old Nuveen CIO Bob DOLL retired in 2021 and joined a faith-based investment firm.
Going forward, TIAA may only keep muni CEFs and OEFs from the old Nuveen and may liquidate or merge most of its mutual funds into TIAA-CREF funds. No point in running 2 middling groups of mutual funds.
At the M* TIAA forum, it was also noted recently that TIAA has plans to get rid of CREF name and operations and fold all of those into TIAA. So, all the TIAA-CREF mutual fund names may soon change to just TIAA.
https://www.mutualfundobserver.com/discuss/discussion/59626/nuveen-emerging-markets-equity-fund-is-to-be-liquidated/p1
https://www.nuveen.com/en-us/investments/reorganizations