September 10, 2024
VIA EDGAR
Securities and Exchange Commission
100 F Street, NE
Washington, D.C. 20549
RE: |
Rule 17g-1 Fidelity Bond Filing |
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Information with Respect to Period Covering April 1, 2024 through April 1, 2025 for the following
Investment Companies (each a Fund): |
Nuveen Real Estate Income Fund (811-10491)
Nuveen Preferred & Income Opportunities Fund (811-21293)
Nuveen Credit Strategies Income Fund (811-21333)
Nuveen Floating Rate Income Fund (811-21494)
Nuveen S&P 500 Buy-Write Income Fund (811-21619)
Nuveen S&P 500 Dynamic Overwrite Fund (811-21809)
Nuveen Core Equity Alpha Fund (811-22003)
Nuveen Mortgage and Income Fund (811-22329)
Nuveen Taxable Municipal Income Fund (811-22391)
Nuveen Real Asset Income and Growth Fund (811-22658)
Nuveen Select Tax-Free Income Portfolio (811-06548)
Nuveen Preferred and Income Term Fund (811-22699)
Nuveen California Select Tax-Free Income Portfolio (811-06623)
Nuveen New York Select Tax-Free Income Portfolio (811-06624)
Nuveen Municipal Value Fund, Inc. (811-05120)
Nuveen California Municipal Value Fund (811-05235)
Nuveen New York Municipal Value Fund (811-05238)
Nuveen Municipal Income Fund, Inc. (811-05488)
Nuveen Select Maturities Municipal Fund (811-07056)
Nuveen Pennsylvania Quality Municipal Income Fund (811-06265)
Nuveen Arizona Quality Municipal Income Fund (811-07278)
Nuveen Massachusetts Quality Municipal Income Fund (811-07484)
Nuveen Virginia Quality Municipal Income Fund (811-07490)
Nuveen Missouri Quality Municipal Income Fund (811-07616)
Nuveen Quality Municipal Income Fund (811-09297)
Nuveen California Quality Municipal Income Fund (811-09161)
Nuveen New York Quality Municipal Income Fund (811-09135)
Nuveen New Jersey Quality Municipal Income Fund (811-09455)
Nuveen Municipal Credit Income Fund (811-10345)
Nuveen AMT-Free Municipal Credit Income Fund (811-09475)
Nuveen AMT-Free Quality Municipal Income Fund (811-21213)
Nuveen California AMT-Free Quality Municipal Income Fund (811-21212)
Nuveen New York AMT-Free Quality Municipal Income Fund (811-21211)
Nuveen Municipal High Income Opportunity Fund (811-21449)
Nuveen AMT-Free Municipal Value Fund (811-22253)
Nuveen Multi-Market Income Fund (811-05642)
Nuveen Global High Income Fund (811-22988)
Nuveen Dow 30 Dynamic Overwrite Fund (811-22970)
Nuveen NASDAQ 100 Dynamic Overwrite Fund (811-22971)
Nuveen Minnesota Quality Municipal Income Fund (811-22967)
Nuveen Municipal Credit Opportunities Fund (811-23440)
Nuveen Core Plus Impact Fund (811-23627)
Nuveen Dynamic Municipal Opportunities Fund (811-23489)
Nuveen Multi-Asset Income Fund (811-23669)
Nuveen Variable Rate Preferred & Income Fund (811-23704)
Nuveen Enhanced High Yield Municipal Bond Fund (811-23445)
Nuveen Municipal Trust (811-07873)
Nuveen Multistate Trust I (811-07747)
Nuveen Multistate Trust II (811-07755)
Nuveen Multistate Trust III (811-07943)
Nuveen Multistate Trust IV (811-07751)
Nuveen Investment Trust (811-07619)
Nuveen Investment Trust II (811-08333)
Nuveen Investment Trust III (811-09037)
Nuveen Investment Trust V (811-21979)
Nuveen Managed Accounts Portfolios Trust (811-22023)
Nuveen Investment Funds, Inc. (811-05309)
NuShares ETF Trust (811-23161)
TIAA-CREF Funds (811-09301)
TIAA-CREF Life Funds (811-08961)
Dear Sir or Madam:
Enclosed for filing,
pursuant to Rule 17g-1 of the Investment Company Act of 1940, as amended, please find the following information with respect to the Nuveen Funds complex of mutual funds referenced above. Please note for the
Commissions records, the following:
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a. |
A copy of the executed Joint Insured Fidelity Bond with a schedule of individual named insureds, for the period
from April 1, 2024 through April 1, 2025 is enclosed under Exhibit 1; |
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b. |
A copy of the resolutions from the June 17, 2024 meeting of the Board of Trustees/Directors of the Nuveen
Funds at which a majority of trustees/directors not considered interested persons approved the amount, type, form and coverage of the Fidelity Bond, and the portion of the premium to be paid by each Fund for the period from April 1,
2024 through April 1, 2025 is enclosed under Exhibit 2; |
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c. |
A document showing the amount of the single insured bond which each Fund would have provided and maintained had
it not been named as an insured under the Joint Insured Fidelity Bond for the period from April 1, 2024 through April 1, 2025 is enclosed under Exhibit 3; |
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d. |
Premiums have been appropriately paid for the period from April 1, 2024 through April 1, 2025; and
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e. |
A copy of the agreement between each Fund and all of the other named insureds entered into pursuant to
paragraph (f) of Rule 17g-1 is enclosed under Exhibit 4. |
Please contact me if you have questions or require additional information.
Very truly yours,
/s/ Mark J. Czarniecki
Mark J. Czarniecki
Vice President and Secretary
Enclosures
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Financial Institution Bond
For Investment Companies |
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DECLARATIONS |
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FEDERAL INSURANCE COMPANY |
Name of Assured:
NUVEEN, LLC
Address of Assured:
333 WEST WACKER DRIVE CHICAGO, IL 60606 |
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Incorporated under the laws of Indiana, a stock
insurance company, herein called the Company
One American Square 202 N Illinois Street, Suite 2600
Indianapolis, IN 46282
Bond Number: J06015554 |
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Item 1. Bond Period: |
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From: April 1, 2024 |
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To: April 1, 2025 |
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At 12:01 A.M. local time at the Address of Assured. |
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Item 2. Single Loss Limits Of Liability Deductible Amounts: |
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Insuring Clause |
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Single Loss Limit Of Liability |
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Deductible Amount |
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1. |
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Employee |
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$84,315,000 |
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$0 |
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2. |
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On Premises |
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$84,315,000 |
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$250,000 |
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3. |
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In Transit |
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$84,315,000 |
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$250,000 |
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4. |
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Forgery Or Alteration |
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$84,315,000 |
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$250,000 |
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5. |
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Extended Forgery |
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$84,315,000 |
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$250,000 |
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6. |
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Counterfeit Money |
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$84,315,000 |
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$250,000 |
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7. |
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Computer System Fraud |
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$84,315,000 |
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$250,000 |
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8. |
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Claims Expense |
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$100,000 |
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$0 |
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9. |
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Audit Expense |
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$100,000 |
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$0 |
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10. |
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Uncollectible Items Of Deposit |
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$5,000,000 |
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$250,000 |
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11. |
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Voice Initiated Funds Transfer Instruction |
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$84,315,000 |
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$250,000 |
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PF-52903D (08/21) |
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Page 1 of 2 |
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Financial Institution Bond
For Investment Companies |
IN WITNESS WHEREOF, the Company has caused this Bond to be signed by its
Authorized Officers, but it shall not be valid unless also signed by a duly authorized representative of the Company.
FEDERAL INSURANCE
COMPANY
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/s/ Brandon M. Peene |
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/s/ John J. Lupica |
Secretary |
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President |
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April 26, 2024 |
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/s/ Paul N. Morrisette |
Date |
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Authorized Representative |
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PF-52903D (08/21) |
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Page 2 of 2 |
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Important Notice |
The SEC Requires Proof of Your Fidelity Insurance Policy
Your company is now required to file an electronic copy of your fidelity insurance coverage (Chubbs ICAP Bond policy)
to the Securities and Exchange Commission (SEC), according to rules adopted by the SEC on June 12, 2006.
Chubb is
in the process of providing your agent/broker with an electronic copy of your insurance policy as well as instructions on how to submit this proof of fidelity insurance coverage to the SEC. You can expect to receive this information from your
agent/broker shortly.
The electronic copy of your policy is provided by Chubb solely as a convenience and does not
affect the terms and conditions of coverage as set forth in the paper policy you receive by mail. The terms and conditions of the policy mailed to you, which are the same as those set forth in the electronic copy, constitute the entire agreement
between your company and Chubb.
If you have any questions, please contact your agent or broker.
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14-02-12160 (08/19) |
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Page 1 of 1 |
Notice of Loss Control Services
Insuring Company: Federal Insurance Company
As a
Chubb policyholder, you have loss prevention information and/or services available to you, as listed in this Notice. You may order any brochure by email to
formsordering@chubb.com and to view our full suite of loss prevention brochures/services go to www.chubb.com/us/fl-lossprevention
Directors and Officers (D&O) Liability Loss Prevention Services
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Directors and Officers Liability Loss Prevention Manuals: |
Directors and Officers Liability Loss Preventions
#14-01-0035
Directors and Officers Securities
Litigation Loss Preventions #14-01-0448
Director Liability Loss Prevention in Mergers and Acquisitions
#14-01-1099
Directors and Officers Liability Loss
Prevention for Not-for-Profit- -#14-01-0036
Cyber Loss Mitigation for Directors -#14-01-1199
Employment Practices Liability (EPL) Loss Prevention Services
Have a question on how to handle an employment situation? Simply call 1.888.249.8425 to access the nationally known employment law
firm of Jackson Lewis P.C. We offer customers an unlimited number of calls to the hot line at no additional charge.
ChubbWorks.com is a web-based platform that offers multiple services including overviews of
employment laws, sample employment policies and procedures, and on-line training. To gain immediate access to ChubbWorks go to www.chubbworks.com and register using your policy number.
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Employment Practices Loss Prevention Guidelines Manual |
Employment Practices Loss Prevention Guidelines -
#14-01-0061
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Loss Prevention Consultant Services |
Chubb has developed a network of more than 120 law firms, human resources consulting firms, and labor economist/statistical firms that
offer specialized services for employment issues.
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Public Company EPL Customers |
Employment Practices Loss Prevention Guidelines Written by Seyfarth Shaw exclusively for Chubb this manual provides an overview of
key employment issues faced by for-profit companies and offers proactive idea for avoiding employment lawsuits.
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Private Company EPL Customers |
Employment Practices Loss Prevention Guidelines Written by Seyfarth Shaw exclusively for Chubb this manual provides an overview of
key employment issues for profit companies and offers proactive idea for avoiding employment lawsuits.
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14-02-23030 (05/2018) |
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Page 1 of 2 |
Fiduciary Liability Loss Prevention Services
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Fiduciary Liability Loss Prevention Manual |
Who May Sue You and Why: How to Reduce Your ERISA Risks and the Role of Fiduciary Liability Insurance #14-01-1019
Crime Loss Prevention Services
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Crime/Kidnap, Ransom & Extortion Loss Prevention Manual |
Preventing Fraud: How Anonymous Hotlines Can Help
#14-01-1090
Cyber Security Loss Prevention Services
Visit:
https://www2.chubb.com/us-en/business-insurance/cyber-security.aspx to learn more about
Chubbs Cyber Services for our policyholders.
Health Care Directors and Officers (D&O) Liability Loss Prevention Services
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Readings in Health Care Governance Manual |
Readings in Health Care Governance -#14-01-0788
ChubbWorks.com for Health Care Organizations The Health Care Zone is a free online resource containing health care specific loss
prevention information for employment practices liability, directors and officers (D&O) liability, and fiduciary liability exposures. To gain immediate access to ChubbWorks go to www.chubbworks.com and register using your policy
number.
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Health Care D&O Loss Prevention Consultant Services |
Health Care D& O Loss Prevention Consultant Services-
#14-01-1164
The services provided are
advisory in nature. While this program is offered as a resource in developing or maintaining a loss prevention program, you should consult competent legal counsel to design and implement your own program. No liability is assumed by reason of the
services, access or information provided. All services are subject to change without notice.
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14-02-23030 (05/2018) |
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Page 2 of 2 |
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Notice to Policyholders
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Insuring Company: Federal Insurance Company
Enclosed is your commercial insurance policy from Chubb. The bill that corresponds with this policy has been
mailed separately. When you receive the bill, please pay the amount due by the date indicated. Payment should be made directly to Chubb. As always, prompt payment will keep your coverage in place.
If you have any questions about the attached policy or need assistance with additional insurance, contact
your agent or broker. For questions about billing, call our Premium Accounting Service Center at 1-800-372-4822. Thank you for
insuring through Chubb.
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99-10-0460B (08/19) |
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Page 1 of 1 |
QUESTIONS ABOUT YOUR INSURANCE?
Answers to questions about your insurance, coverage information, or assistance in resolving complaints can be obtained by contacting:
Chubb Customer Support Services Department:
436 Walnut Street
Philadelphia, Pennsylvania 19106-3703
Telephone Number:
1-800-352-4462
Email: ACEUSCustomerServices@ACEgroup.com
The
Illinois Department of Insurance may also be contacted for assistance. Insurance analysts are available to answer general questions by phone at our toll-free Consumer Assistance Hotline (866) 445-5364.
However, complaints must be submitted in writing.
How to file a complaint with the Insurance Department:
Complaints may be submitted in the following ways:
https://insurance.illinois.gov/applications/ComplaintForms/default.aspx
and by following the instructions posted.
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● |
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By email at consumer_complaints@ins.state.il.us |
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● |
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By mail: 320 W. Washington St. Springfield, IL 62767 or 122 S. Michigan Ave., 19th Floor, Chicago, Illinois 60603
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Chubb Producer Compensation
Practices & Policies
Chubb believes that policyholders should have access to information about Chubbs practices and policies related to the payment of
compensation to brokers and independent agents. You can obtain that information by accessing our website at http://www.chubbproducercompensation.com or by calling the following toll-free telephone number:
1-866-512-2862.
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Trade or Economic
Sanctions Notice
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TRADE OR ECONOMIC SANCTIONS NOTICE
This insurance does not apply to the extent that trade or economic sanctions or other laws or regulations
prohibit us from providing insurance, including, but not limited to, the payment of claims. All other terms and conditions of the policy remain unchanged.
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ALL-21101 (09/19) |
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Page 1 of 1 |
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IMPORTANT NOTICE TO
POLICYHOLDERS |
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Social Engineering Tips
Please read!
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HAVE YOU BEEN TRICKED INTO WIRE FRAUD? TAKE IMMEDIATE ACTION!
If you believe you have transferred funds to a criminal posing as a legitimate business associate, you should
act quickly:
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1. |
Immediately contact the originating bank and request a recall of the wire transfer and confirm that
recall in writing. |
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2. |
Immediately file a complaint with the FBI at www.ic3.gov. This reporting triggers the
FBIs Recovery Asset Team and the FBIs assistance seeking return of the wire transfer. |
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3. |
Preserve records of the incident, including emails sent and received in their original electronic
state. Correspondence and forensic information contained in these electronic files help investigators shed light on the perpetrator(s), and parties responsible for the incident. |
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4. |
Once the above steps are complete, contact Chubb per the instructions in your policy. |
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While neither recalling the wire transfer nor reporting to the FBI
guarantees the return of your funds, these steps maximize the opportunity to mitigate your loss, assist the FBI in tracing the funds and help establish any insurance claim.
Simple Steps to Prevent Fraudulently Induced Wire Transfers
Email communication is efficient, but it is not a secure method of communication. Regardless of your
familiarity with a contact, that contacts email may be intercepted, altered and fabricated. You may reduce the chances of fraud by following these best practices:
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1. |
Verify Email Requests by Telephone: Require those responsible for paying invoices or changing bank
routing information to verify payment details over the phone, rather than by email or documents sent electronically. Making a phone call to a known, pre-existing telephone number remains the single best
protection against fraud. |
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2. |
Segregate Wire Transfer Responsibilities: Establish a standing policy that requires at least three
people to review and approve wire transfer requests, pay an invoice or change a business partners bank account information. Such requests should be entered by the initiator of the wire and verified by two independent signatories. |
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3. |
Turn on MFA for Cloud Email: Multifactor Authentication is available from all major email providers.
It provides a layer of security to email accounts beyond a users account name and password, making it harder for criminals to impersonate you, your executives and your employees. |
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This document is for information only. It is offered as a resource
to be used together with your professional insurance advisers in maintaining a loss prevention program. No liability is assumed by reason of the information this document contains.
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ALL-317454 (03/21) |
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Page 1 of 1 |
ILLINOIS NOTICE TO POLICYHOLDERS
REGARDING THE RELIGIOUS FREEDOM
PROTECTION AND CIVIL UNION ACT
Dear Policyholder:
This is to
provide notice that, pursuant to Illinois Department of Insurance Company Bulletin 2011-06 (CB 2011-06), this policy is in compliance with the Illinois Religious Freedom
Protection and Civil Union Act (the Act, 750 ILL. COMP. STAT. 75/1). The Act, which became effective on June 1, 2011, creates a legal relationship between two persons of either the same or opposite sex who establish a civil union.
The Act provides that parties to a civil union are entitled to the same legal obligations, responsibilities, protections and benefits
that are afforded or recognized by the law of Illinois to spouses, whether they are derived from statute, administrative rule, policy, common law or any source of civil or criminal law. In addition, this law requires recognition of a same-sex civil union, marriage, or other substantially similar legal relationship, except for common law marriage, legally entered into in other jurisdictions. The Act further provides that party to a civil
union shall be included in any definition or use of the terms spouse, family, immediate family, dependent, next of kin and other terms descriptive of spousal relationships as those
terms are used throughout the law. According to CB 2011-06, this includes the terms marriage or married or any variations thereof. CB 2011-06
also states that if policies of insurance provide coverage for children, the children of civil unions must also be provided coverage.
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ALL-34772 (11/11) |
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Copyright with permission of Insurance Services Office, Inc., 2011 |
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Page 1 of 1 |
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U.S. Treasury Departments Office
Of Foreign Assets Control (OFAC)
Advisory Notice to Policyholders |
This Policyholder Notice shall not be construed as part of your policy and no coverage is provided by this
Policyholder Notice nor can it be construed to replace any provisions of your policy. You should read your policy and review your Declarations page for complete information on the coverages you are provided.
This Notice provides information concerning possible impact on your insurance coverage due to directives issued by OFAC. Please read this
Notice carefully.
The Office of Foreign Assets Control (OFAC) administers and enforces sanctions policy, based on Presidential
declarations of national emergency. OFAC has identified and listed numerous:
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● |
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Terrorist organizations; and |
as Specially Designated Nationals and Blocked Persons. This list can be located on the United States Treasurys web site
http//www.treas.gov/ofac.
In accordance with OFAC regulations, if it is determined that you or any other insured, or any person or
entity claiming the benefits of this insurance has violated U.S. sanctions law or is a Specially Designated National and Blocked Person, as identified by OFAC, this insurance will be considered a blocked or frozen contract and all provisions of this
insurance are immediately subject to OFAC. When an insurance policy is considered to be such a blocked or frozen contract, no payments nor premium refunds may be made without authorization from OFAC. Other limitations on the premiums and payments
also apply.
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PF-17914a (04/16) |
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Reprinted, in part, with permission of |
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Page 1 of 1 |
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ISO Properties, Inc. |
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Financial Institution Bond
For Investment Companies |
The Company, in consideration of the premium paid, and in reliance on the Application and all
other statements made and information furnished to the Company by the Assured, and subject to the Declarations made part of this Bond and to all other terms, conditions, and limitations of this Bond, agrees to pay the Assured for:
Loss resulting directly from Larceny or Embezzlement committed by any Employee acting alone or in
collusion with others.
Loss of Property resulting directly from:
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a. |
robbery, burglary, misplacement, mysterious unexplainable disappearance, damage or destruction; or
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b. |
false pretenses, or common law or statutory larceny, committed by a natural person while on the premises of
the Assured, |
while the Property is lodged or deposited at premises located
anywhere.
For the purpose of coverage under this Insuring Clause 2, the premises of securities depositories shall be
deemed to be premises of the Assured, but only with respect to the loss of Certificated Securities. Certificated Securities held by such depositories shall be deemed to be Property, but only to the extent of the
Assureds interest therein as detailed in the books and records of such depositories.
Loss of Property resulting directly from common law or statutory larceny, misplacement, mysterious unexplainable
disappearance, damage or destruction, while the Property is in transit anywhere in:
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a. |
an armored motor vehicle, including loading and unloading thereof; |
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b. |
the custody of a natural person acting as a messenger of the Assured; or |
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c. |
the custody of a Transportation Company and being transported in a conveyance other than an
armored motor vehicle, provided that covered Property transported in such manner is limited to the following: |
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(2) |
Certificated Securities issued in registered form, which are not endorsed or are restrictively
endorsed; or |
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(3) |
Negotiable Instruments not payable to bearer, which are not endorsed or are restrictively
endorsed. |
Coverage under this Insuring Clause 3 begins immediately on the receipt of such
Property by the armored motor vehicle, natural person messenger, or Transportation Company and ends immediately on delivery to the premises of the addressee or to any representative of the addressee located anywhere.
Loss resulting directly from the Assured having, in good faith:
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a. |
transferred, paid, or delivered any Property; or |
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b. |
established any credit or given any value, |
in reliance on any Written and Original:
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PF-52903 (08/21) |
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Page 1 of 17 |
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Financial Institution Bond
For Investment Companies |
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(1) |
Negotiable Instrument (other than an Evidence of Debt);
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(3) |
Withdrawal Order or receipt for the withdrawal of Property; |
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(4) |
Certificate of Deposit; |
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(6) |
instruction or advice directed to the Assured and purportedly signed by any Customer, any
financial institution, or any Employee, |
which
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ii. |
is fraudulently materially altered. |
For the purpose of this Insuring Clause 4, a reproduction of a handwritten signature is treated the same as the handwritten
signature. An electronic or digital signature is not treated as a reproduction of a handwritten signature.
Loss resulting directly from the Assured having, in good faith, for its own account or the account of others:
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a. |
acquired, sold or delivered, given value, extended credit or assumed liability in reliance on any
Written and Original: |
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(1) |
Certificated Security; |
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(2) |
deed, mortgage or other instrument conveying title to, or creating or discharging a lien on, real property;
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which
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i. |
bears a Forgery, but only to the extent the Forgery directly causes the loss;
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ii. |
is fraudulently materially altered, but only to the extent the alteration directly causes the loss; or
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b. |
guaranteed in writing or witnessed any signature on any: |
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(4) |
power of attorney; or |
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(5) |
endorsement upon any item listed in a.(1) through a.(4) above, |
but only to the extent that such guarantee or signature directly causes the loss; or
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c. |
acquired, sold or delivered, or given value, extended credit or assumed liability in reliance on any item
listed in a.(1) or a.(2) above which is a Counterfeit Original, but only to the extent the Counterfeit Original directly causes the loss. |
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PF-52903 (08/21) |
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Page 2 of 17 |
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Financial Institution Bond
For Investment Companies |
Actual physical possession, and continued actual physical possession if taken
as collateral, of the items listed in a.(1) through a.(4) above by an Employee, Custodian, or a federal or state chartered deposit institution of the Assured is a condition precedent to the Assured having relied on such
items. Release or return of such collateral is an acknowledgment by the Assured that it no longer relies on such collateral.
For the purpose of this Insuring Clause 5, a reproduction of a handwritten signature is treated the same as the handwritten
signature. An electronic or digital signature is not treated as a reproduction of a handwritten signature.
Loss resulting directly from the receipt by the Assured in good faith of counterfeit Money.
Loss resulting directly from the:
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a. |
withdrawal, transfer, payment, or delivery of Property; or |
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b. |
creation, deletion, debiting, or crediting of an account of the Assured or Customer,
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which results directly from a Network Intrusion.
Claims Expenses incurred by the Assured in determining the amount of covered loss under this Bond in
excess of the applicable Deductible Amount.
Audit Expenses incurred by the Assured by reason of the discovery of loss covered under Insuring Clause 1.
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10. |
Uncollectible Items Of Deposit |
Loss resulting directly from the Assured having credited an account of a customer, shareholder, or subscriber on the
faith of any Items of Deposit which prove to be uncollectible, provided that the crediting of such account causes:
|
a. |
redemptions or withdrawals to be permitted; |
|
b. |
shares to be issued; or |
|
from |
an account of an Assured. |
As a condition precedent to coverage under this Insuring Clause 10, the Assured must hold Items of
Deposit for the minimum number of days stated in the Application before permitting any redemptions or withdrawals, issuing any shares, or paying any dividends with respect to such Items of Deposit.
Items of Deposit shall not be deemed uncollectible until the Assureds standard collection procedures have
failed.
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11. |
Voice Initiated Funds Transfer Instruction |
Loss resulting directly from the Assured having, in good faith, transferred, paid, or delivered Money or
Securities in reliance upon any Voice Initiated Funds Transfer Instruction that purports, and reasonably appears, to have originated from:
|
b. |
an Employee acting on instructions of such Customer; or |
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c. |
a financial institution acting on behalf of such Customer with authority to make such instructions,
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but which Voice Initiated Funds Transfer Instruction was, in fact, fraudulently issued without
the knowledge of the Assured, Employee, or Customer.
As a condition precedent to coverage under this
Insuring Clause 11, the Voice Initiated Funds Transfer Instruction must be received and processed in accordance with the Designated Procedures as outlined in the Application furnished to the Company.
|
1. |
Automatic Increase Limit Of Liability |
If, during the Bond Period, an increase in the minimum amount of the Single Loss Limit Of Liability applicable to Insuring
Clause 1 is required pursuant to Rule 17g-1 of the Investment Company Act of 1940, as a result of:
|
a. |
the creation of a new Investment Company; or |
|
b. |
an increase in the gross assets of Investment Companies covered under the Bond,
|
then the minimum required increase in the amount of the Single Loss Limit Of Liability applicable to
Insuring Clause 1 shall take place automatically for the remainder of the Bond Period without payment of an additional premium.
The first named Assured shall be deemed to be the sole agent of the other Assureds for all purposes under this
Bond, including but not limited to the giving or receiving of any notice or proof required to be given and for the purpose of effecting or accepting any amendments to or termination of this Bond.
If the first named Assured ceases for any reason to be covered under this Bond, then the Assured next named on
the Application shall thereafter be considered as the first named Assured for the purposes of this Bond.
The
Company shall furnish each Assured with a copy of the Bond and with any amendment thereto, together with a copy of each formal filing of claim by any other Assured and notification of the terms of the settlement of each such claim
prior to the execution of such settlement.
Knowledge possessed or discovery made by any Assured shall constitute
knowledge possessed or discovery made by all of the Assureds for the purposes of this Bond.
All loss and other
payments, if any, payable by the Company, shall be payable to the first named Assured without regard to such Assureds obligations to others, and the Company shall not be responsible for the application by the first named
Assured of any payment made by the Company. If the Company agrees to and makes payment to any Assured other than the first named Assured, such payment shall be treated as though made to the first named Assured.
The Company shall not be liable for loss sustained by one Assured to the advantage of any other Assured.
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3. |
Notice To Company Of Legal Proceedings Against Assured Election To Defend |
The Assured shall promptly give notice to the Company of any legal proceeding brought to determine the
Assureds liability for any loss, claim or damage which, if established, would constitute a collectible loss under this Bond. Concurrent with such notice, and as requested thereafter, the Assured shall furnish copies of all
pleadings and pertinent papers to the Company.
The Company may, at its sole option, elect to conduct the defense of all or
part of such legal proceeding. The defense by the Company shall be in the name of the Assured through attorneys selected by the Company. The Assured shall provide all reasonable information and assistance as required by the Company for
such defense.
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If the Company elects to defend all or part of any legal proceeding, the
court costs and attorneys fees incurred by the Company and any settlement or judgment on that part defended by the Company shall be a loss under the applicable Insuring Clause of this Bond. In addition, if the amount demanded in the legal
proceeding is greater than the amount recoverable under this Bond, or if a Deductible Amount is applicable, or both, the Companys liability for court costs and attorneys fees incurred in defending all or part of such legal proceeding is
limited to the proportion of such court costs and attorneys fees incurred that the amount recoverable under this Bond bears to the total of the amount demanded in such legal proceeding.
If the Company declines to defend the Assured, no settlement without the prior written consent of the Company or
judgment against the Assured shall determine the existence, extent or amount of coverage under this Bond, and the Company shall not be liable for any costs, fees and expenses incurred by the Assured.
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4. |
Representations Made By Assured |
The Assured represents that all information it has furnished in the Application for this Bond or otherwise is complete,
true and correct. Such Application and other information constitute part of this Bond. Any intentional misrepresentation, omission, concealment or incorrect statement of a material fact, in the Application or otherwise, shall be grounds for
rescission of this Bond.
As used in this Bond:
Acceptance means a draft which the drawee has, by signature written on it, engaged to honor as presented.
Assured means:
|
(1) |
the Investment Company listed under Name of Assured in the Declarations (the
first named Assured); or |
|
(2) |
any other Investment Company listed in the Application. |
Assured does not include any entity or organization that is not an Investment Company.
Assureds Network means:
|
(1) |
the Assureds Computer System; or |
|
(2) |
an Electronic Communication System. |
Audit Expenses means reasonable expenses incurred by the Assured with the Companys prior written consent,
which shall not be unreasonably withheld, for audits or examinations required by any governmental regulatory authority or self-regulatory organization to be conducted by such authority, organization, or their appointee. Audit Expense
shall not include the Assureds internal corporate costs (such as salaries), attorneys fees, or expenses incurred by any customer.
Certificate of Deposit means an acknowledgment in writing by a financial institution of receipt of Money with an
engagement to repay it.
Certificated Security means a share, participation or other interest in property of the
issuer, or an enterprise of the issuer, or an obligation of the issuer, which is:
|
(1) |
represented by an instrument issued in bearer or registered form; |
|
(2) |
of a type commonly dealt in on securities exchanges or markets or commonly recognized in any area in which
it is issued or dealt in as a medium for investment; and |
|
(3) |
either one of a class or series or by its terms divisible into a class or series of shares, participations,
interests or obligations. |
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Claims Expenses means reasonable expenses incurred by the
Assured with the Companys prior written consent, which shall not be unreasonably withheld, solely for independent firms or individuals retained to determine the amount of a covered loss. Claims Expenses shall not include the
Assureds internal corporate costs (such as salaries), attorneys fees, or expenses incurred by any customer.
Computer System means a device or group of devices and all input, output, processing, storage, off-line media libraries (including third-party hosted computing services accessed across the internet, including infrastructure, platform, and software services), and communication facilities, including related
communications networks, which are connected directly or indirectly to such device or group of devices.
Counterfeit
Original means an imitation of an actual valid Original which is intended to deceive and be taken as the Original.
Cryptocurrency means a digital or electronic medium of exchange, operating independently of a central bank, in which
encryption techniques are used to regulate the generation of units and to verify the transfer of such units.
Custodian means the institution designated by an Assured to maintain possession and control of its assets.
Customer means any shareholder of an Assured which has a written agreement with the Assured to transfer
such shareholders Money or Securities through a Voice Initiated Funds Transfer Instruction.
Customer Communication System means an:
|
(1) |
online portal or mobile application provided by the Assured for purposes of accessing a
Customers account; or |
|
(2) |
electronic mailing system hosted by the Assured or by a third party cloud service provider.
|
Director means any natural person duly elected or appointed:
|
(1) |
as an officer of the Assured; |
|
(2) |
to the Assureds board of directors; or |
|
(3) |
as a trustee of the Assured. |
Electronic Communication System means:
|
(1) |
Fedwire, Clearing House Interbank Payment System (CHIPS), Society for Worldwide Interbank Financial
Telecommunication (SWIFT), and similar automated interbank communication systems in which the Assured participates; |
|
(2) |
Customer Communication System; or |
|
(3) |
any communication system similar to those set forth in (1) and (2) of this definition in which the
Assured participates, |
allowing for the input, output, examination, or transfer of electronic
instructions into or from the Assureds Computer System.
Employee means any natural person:
|
(1) |
while in the regular service of an Assured in the ordinary course of such Assureds
business, whom such Assured compensates directly by salary or wage and has the right to control and direct in the performance of such service; |
|
(2) |
Director while in the regular service of an Assured in the ordinary course of such
Assureds business, or while acting as a member of any committee duly elected or appointed to examine or audit or have custody of or access to Property of the Assured; |
|
(3) |
intern while in the regular service of an Assured in the ordinary course of such
Assureds business; |
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(4) |
provided by an employment contractor while in the regular service of an Assured in the
ordinary course of such Assureds business under the Assureds supervision at any of the Assureds premises; |
|
(5) |
employee of the Assureds contracted: |
|
b. |
underwriter (distributor); |
|
d. |
shareholder accounting record-keeper; or |
while performing acts for the Assured in the capacity of an Employee;
|
(6) |
attorney of a law firm retained by the Assured while performing legal services for the
Assured; or |
|
(7) |
Processor, but only while such Processor is performing services and not:
|
|
a. |
creating, preparing, modifying, or maintaining the Assureds computer applications or
software programs; or |
|
b. |
acting as a transfer agent or in any other agency capacity in issuing checks, drafts, or securities for the
Assured. |
Each employer of persons as set forth in (6) and (7) of this definition and the
partners, officers, and other employees of such employers shall collectively be deemed to be one person for the purpose of the definition of Single Loss and in the event of payment under this Bond, the Company shall be subrogated to
the Assureds rights of recovery, as stated in Section 12., Subrogation Assignment Recovery, of the Conditions and Limitations, against any such employer.
Employee does not include:
|
(1) |
any employee of a fund administrator for any employee benefit plan; or |
|
(2) |
any employee of a transfer agent, shareholder accounting record-keeper, or fund administrator which is:
|
|
a. |
not an affiliated person (as defined in Section 2(a) of the Investment Company Act of 1940) of
an Assured or of the investment advisor or underwriter (distributor) of such Assured; or |
|
b. |
a bank (as defined in Section 2(a) of the Investment Company Act of 1940).
|
Evidence of Debt means an instrument, including a Negotiable Instrument, executed
by a Customer and held by the Assured, which in the regular course of business is treated as evidencing the Customers debt to the Assured.
Forgery means:
|
(1) |
affixing the handwritten signature, or a reproduction of the handwritten signature, of another natural
person without authorization and with the intent to deceive; or |
|
(2) |
affixing the name of an organization as an endorsement to a check without authority and with the intent to
deceive, |
provided that a signature which consists in whole or in part of ones own name signed with
or without authority, in any capacity, for any purpose is not a Forgery.
Initial Transaction Statement means
the first written statement signed by or on behalf of the issuer of an Uncertificated Security sent to the registered owner or registered pledgee containing:
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(1) |
a description of the issue of which the Uncertificated Security is a part;
|
|
(2) |
the number of shares or units transferred to the registered owner, pledged by the registered owner to the
registered pledgee, or released from pledge by the registered pledgee; |
|
(3) |
the name, address and taxpayer identification number, if any, of the registered owner and registered
pledgee; and |
|
(4) |
the date the transfer, pledge or release was registered. |
Instruction means a written order to the issuer of an Uncertificated Security requesting that the
transfer, pledge or release from pledge of the specified Uncertificated Security be registered.
Investment Company means any entity registered under the Investment Company Act of 1940.
Items of Deposit means one or more checks or drafts drawn upon a financial institution in the United States of America.
Larceny or Embezzlement means larceny and embezzlement as defined under Section 37 of the Investment Company
Act of 1940.
Letter of Credit means an engagement in writing by a bank or other person made at the request of a
customer that the bank or other person will honor drafts or other demands for payment in compliance with the conditions specified in the engagement.
Money means a medium of exchange in current use authorized or adopted by a domestic or foreign government as part of its
currency.
Negotiable Instrument means any writing:
|
(1) |
signed by the maker or drawer; |
|
(2) |
containing an unconditional promise or order to pay a sum certain in Money and no other promise,
order, obligation or power given by the maker or drawer; |
|
(3) |
payable on demand or at a definite time; and |
|
(4) |
payable to order or bearer. |
Negotiable Instrument includes a substitute check as defined in the Check Clearing for the 21st Century Act, and shall be treated the same as the Original it replaced.
Network Intrusion means the:
|
(1) |
unauthorized access; or |
|
(2) |
entry of an unauthorized application or software program, |
into the Assureds Network, by any entity or natural person, except an Employee or any authorized
representative of the Assured.
Original means the first rendering or archetype and does not include
photocopies or electronic transmissions even if received and printed.
Processor means an employee of any entity
authorized by the Assured to perform data processing of the Assureds checks and accounting records related to such checks. Processor does not include any employee of a Federal Reserve Bank or clearing house.
Property means Money; Securities; Initial Transaction Statement; Negotiable Instrument; Certificate of Deposit;
Acceptance; Evidence of Debt; Withdrawal Order; Letter of Credit; insurance policy; abstract of title, deed and mortgage on real estate; revenue and other stamps; precious metals in any form; and books of accounts and other Written
records, but not electronic data processing records or media.
Property does not include electronic data or
Cryptocurrency.
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Securities means either Certificated Securities or
Uncertificated Securities.
Single Loss means all covered loss, court costs, and attorneys fees resulting
from:
|
(1) |
any one act of burglary, robbery or attempt at either, in which no Employee is implicated;
|
|
(2) |
any one act or series of related acts on the part of any natural person resulting in the damage,
destruction, or misplacement of Property; |
|
(3) |
all acts other than those specified in (1) and (2) of this definition, caused by any natural person or
in which such natural person is implicated; or |
|
(4) |
any one event not specified in (1), (2) or (3) of this definition. |
Transportation Company means any organization which provides its own or its leased vehicles for transportation or which
provides freight forwarding or air express services.
Uncertificated Security means a share, participation or other
interest in property of the issuer, or an enterprise of the issuer, or an obligation of the issuer, which is:
|
(1) |
not represented by an instrument and the transfer of which is registered on books maintained for that
purpose by or on behalf of the issuer; |
|
(2) |
of a type commonly dealt in on securities exchanges or markets; and |
|
(3) |
either one of a class or series or by its terms divisible into a class or series of shares, participations,
interests or obligations. |
Voice Initiated Funds Transfer Instruction means those oral
instructions which authorize the transfer of Money in a Customers account, or of a Customers Securities, and which are:
|
(1) |
made over a telecommunications device; and |
|
(2) |
directed to those natural persons specifically authorized to receive such instructions by such
telecommunications device. |
Withdrawal Order means a
non-negotiable instrument, other than an Instruction, signed by a Customer authorizing the Assured to debit the Customers account in the amount of funds stated therein.
Written means expressed through letters or marks placed upon paper and visible to the eye.
For the purposes of these definitions, the singular includes the plural and the plural includes the singular, unless otherwise
indicated.
|
1. |
General Exclusions Applicable To All Insuring Clauses |
This Bond does not cover loss resulting directly or indirectly from:
|
a. |
riot or civil commotion outside the United States of America and Canada, or any loss due to military, naval
or usurped power, war or insurrection. This Exclusion 1.a., however, shall not apply to loss which occurs in transit in the circumstances recited in Insuring Clause 3, provided that when such transit was initiated there was no knowledge on the part
of any person acting for the Assured of such riot, civil commotion, military, naval or usurped power, war or insurrection; |
|
b. |
the effects of nuclear fission or fusion, radioactivity, or chemical or biological contamination;
|
|
c. |
the loss of potential income. This Exclusion 1.c., however, shall not apply to interest and dividends
accrued to the benefit of the Assured or any Customer prior to the discovery of a covered loss, whether or not such accrued interest or dividends have been paid into the account of such Assured or Customer as of the
discovery of such covered loss; |
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d. |
damages of any type for which the Assured is legally liable, except compensatory damages, but not
multiples thereof, arising from a loss covered under this Bond; |
|
e. |
all costs, fees and expenses incurred by the Assured: |
|
(1) |
in establishing the existence of or amount of loss covered under this Bond, except for loss covered under
Insuring Clause 8 or 9; or |
|
(2) |
as a party to any legal proceeding, even if such legal proceeding results in a loss covered by this Bond;
|
|
f. |
indirect or consequential loss of any nature, except for loss covered under Insuring Clause 8 or 9. This
Exclusion 1. f., however, shall not apply to interest and dividends accrued to the benefit of the Assured or any Customer prior to the discovery of a covered loss, whether or not such accrued interest or dividends have been paid into
the account of such Assured or Customer as of the discovery of such covered loss; |
|
g. |
any violation by the Assured or by any Employee: |
|
(1) |
of any law regulating: |
|
i. |
the issuance, purchase or sale of securities; |
|
ii. |
securities transactions on security or commodity exchanges or the over the counter market;
|
|
iii. |
investment companies; or |
|
iv. |
investment advisors; or |
|
(2) |
of any rule or regulation made pursuant to any such law; |
|
h. |
the loss or disclosure of confidential information, material or data, while in the care, custody or control
of the Assured, including but not limited to patents, trade secrets, processing methods, customer lists, financial information, credit card information, health information, retirement or health savings account information, or any similar type
of non-public information. This Exclusion 1.h., however, shall not apply when such information, material or data is used to support or facilitate the commission of any act otherwise covered under this Bond;
|
|
i. |
fees, costs, fines, penalties or any other expenses incurred by an Assured which result, directly or
indirectly, from the access to or disclosure of an Assureds or another entitys or persons confidential or personal information, including but not limited to patents, trade secrets, processing methods, customer lists,
financial information, credit card information, health information, retirement or health savings account information, or any similar type of non-public information; |
|
j. |
liability resulting from disclosure of or acting on material nonpublic information; |
|
k. |
liability assumed by the Assured by agreement under any contract, unless loss under this Bond would
be covered in the absence of such agreement; |
|
l. |
the dishonest acts of any Director who is not an Employee, acting alone or in collusion with
others; |
|
m. |
any modification, damage, destruction, deletion, or corruption of any application or software program within
the Assureds Network, except for loss covered under Insuring Clause 7; |
|
n. |
a threat or series of threats to: |
|
(1) |
gain access to the Assureds Computer System and sell or disclose confidential information
stored within the Assureds Computer System; or |
|
(2) |
modify, damage, destroy, delete, or corrupt any application or software program within the Assureds
Computer System; |
|
o. |
costs or expenses of any independent forensic analysts or network security consultants engaged to
investigate or assess any actual or alleged threat; |
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p. |
costs or expenses incurred to identify or remediate application or software program errors or
vulnerabilities, or costs to update, replace, restore, upgrade, maintain, or improve a Computer System; |
|
q. |
costs or expenses incurred to replace, restore, recreate, collect, or recover any application or software
program; or |
|
2. |
Specific Exclusions Applicable To All Insuring Clauses Except Insuring Clause 1
|
This Bond does not cover loss resulting directly or indirectly from:
|
a. |
the acts of an Employee, except for loss covered under: |
|
(1) |
Insuring Clause 2 or 3 which results directly from misplacement, mysterious unexplainable disappearance, or
damage or destruction of Property; or |
|
b. |
the surrender of a ransom or extortion payment away from the Assureds premises as a result of a
threat to do bodily harm to any person, or to do damage to the premises or Property of the Assured, except for loss covered under Insuring Clause 3.b.; |
|
c. |
payments made or withdrawals from any account involving erroneous credits to such account, unless such
payments or withdrawals are physically received by such depositor or representative of such depositor who is within the premises of the Assured at the time of such payment or withdrawal; |
|
d. |
any Uncertificated Security, except for loss covered under Insuring Clause 7; |
|
e. |
the loss of Property while: |
|
(2) |
in the custody of a Transportation Company, except for loss covered under Insuring Clause 3; or
|
|
(3) |
located on the premises of an armored motor vehicle operator; |
|
f. |
damages resulting from any civil, criminal or other legal proceeding in which the Assured is
adjudicated to have engaged in Racketeering activity; |
|
g. |
the failure for any reason of a financial or depository institution, its receiver or other liquidator to pay
or deliver funds or Property to the Assured, except for loss of Securities covered under Insuring Clause 2; |
|
h. |
instructions issued by a Customer to the Assured when such instructions are made, sent, or
originated by a natural person authorized by the Customer to make, send, or originate any instructions; |
|
i. |
the use of credit, debit, charge, access, convenience, identification, cash management, or other cards
whether such cards were issued, or purport to have been issued, by the Assured or by any entity other than the Assured; |
|
j. |
Items of Deposit which are not finally paid for any reason including, but not limited to,
Forgery or any other fraud, except for loss covered under Insuring Clause 10; |
|
k. |
the acts of any agent, broker, factor, commission merchant, independent contractor, intermediary, finder, or
other representative of the same general character of the Assured; or |
|
l. |
the acts of any employee, agent, broker, factor, commission merchant, independent contractor, intermediary,
finder, or other representative of the same general character of any third party, while conducting business with the Assured on behalf of such third party. |
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3. |
Specific Exclusions Applicable To All Insuring Clauses Except Insuring Clauses 1, 4, and 5
|
This Bond does not cover loss resulting directly or indirectly from:
|
a. |
the complete or partial non-payment of or default on any loan
whether such loan was procured in good faith or through trick, artifice, fraud, or false pretenses, except for loss covered under Insuring Clause 7; |
|
b. |
any Forgery or any alteration, except for loss covered under Insuring Clause 7; or
|
|
c. |
any counterfeit, except for loss covered under Insuring Clause 6. |
|
4. |
Specific Exclusions Applicable To Insuring Clause 7 |
This Bond does not cover loss resulting directly or indirectly from:
|
a. |
any transfer, payment, or delivery of Money or Securities: |
|
(1) |
authorized by an Employee; or |
|
(2) |
arising out of any misrepresentation received by any Employee, agent, broker, factor, commission
merchant, independent contractor, intermediary, finder, or other representative of the same general character of the Assured, |
|
|
whether such transfer, payment, or delivery was made in good faith or as a result of trick, artifice, fraud,
or false pretenses; |
|
b. |
forged, altered or fraudulent Negotiable Instruments, Securities, documents or written instruments
used as source documentation for input into a Computer System; |
|
c. |
any investment in Securities, or ownership in any corporation, partnership, real property, commodity
or similar instrument, whether or not such investment is genuine or fraudulent; |
|
d. |
mechanical failure, faulty construction, error in design, latent defect, wear and tear, gradual
deterioration, electrical disturbance, the Assureds Network failure or breakdown, any malfunction or error in programming, or error or omission in processing; |
|
e. |
entries or changes made by a natural person with authorized access to the Assureds
Network who acts in good faith on instructions, unless such instructions are given to that person by a software contractor or its partner, officer, or employee authorized to design, develop, prepare, supply, service, write or implement
programs for the Assureds Network; or |
|
f. |
entries or changes made at an Electronic Funds Transfer System or a Customer Communication
System by a: |
|
(2) |
natural person with authorized access to the Customers authentication credentials or mechanism.
|
|
5. |
Specific Exclusions Applicable To Insuring Clause 11 |
This Bond does not cover loss resulting directly or indirectly from any Voice Initiated Transfer Instruction from a:
|
(2) |
natural person with authorized access to the Customers verification credentials or mechanism.
|
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V. |
CONDITIONS AND LIMITATIONS |
If any Insuring Clause requires that an enumerated type of document be fraudulently materially altered or a Counterfeit
Original, or contain a signature which is a Forgery or obtained through trick, artifice, fraud, or false pretenses, the material alteration or Counterfeit Original or fraudulent signature must be on or of the enumerated document
itself not on or of some other document submitted with, accompanying or incorporated by reference into the enumerated document.
|
2. |
Change Or Modification |
No change in or modification of this Bond shall be effective except when made by written endorsement to this Bond signed by an
authorized representative of the Company.
If this Bond is for a sole Assured, no change or modification which would
adversely affect the rights of the Assured shall be effective prior to sixty (60) days after written notice has been furnished by the acting party to the U.S. Securities and Exchange Commission.
If this Bond is for joint Assureds, no change or modification which would adversely affect the rights of any
Assured shall be effective prior to sixty (60) days after written notice has been furnished by the Company to all Assureds and to the U.S. Securities and Exchange Commission.
If any time period limitation within this Bond is prohibited by any law controlling this Bonds construction, such
limitation shall be deemed to be amended so as to equal the minimum period of limitation provided by such law.
|
4. |
Cooperation Of Assured |
At the Companys request and at reasonable times and places designated by the Company, the Assured shall:
|
a. |
submit to examination by the Company and subscribe to the same under oath; |
|
b. |
produce for the Companys examination all pertinent records; and |
|
c. |
cooperate with the Company in all matters pertaining to the loss. |
The Assured shall execute all papers and render all assistance to secure to the Company the rights and causes of action
provided for under this Bond. The Assured shall do nothing after discovery of any loss to prejudice such rights or causes of action.
This Bond shall apply to loss of Property:
|
b. |
held by the Assured in any capacity; or |
|
c. |
for which the Assured is legally liable. |
This Bond shall be for the sole use and benefit of the Assured.
The Company shall be liable under this Bond only for the amount by which any Single Loss is greater than the applicable
Deductible Amount as stated in Item 2 of the Declarations.
There shall be no deductible applicable to any loss sustained
by any Assured and covered under Insuring Clause 1.
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PF-52903 (08/21) |
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Page 13 of 17 |
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Financial Institution Bond
For Investment Companies |
This Bond applies only to loss first discovered by a Director during the Bond Period. Discovery occurs at the earlier of
a Director learning of:
|
a. |
facts which may subsequently result in a loss of a type covered by this Bond; or |
|
b. |
an actual or potential claim in which it is alleged that the Assured is liable to a third party,
|
regardless of when the act or acts causing or contributing to such loss occurred, even though the amount
of loss does not exceed the applicable Deductible Amount, or the exact amount or details of loss may not then be known.
The payment of any loss under this Bond shall not reduce the liability of the Company for other losses whenever sustained,
provided that:
|
a. |
the Companys liability for each Single Loss shall not exceed the applicable Single Loss Limit
Of Liability as stated in Item 2 of the Declarations or as set forth under General Agreement 1, and shall not be cumulative in amounts from year to year or from Bond Period to Bond Period; |
|
b. |
if a Single Loss is covered under more than one Insuring Clause, the maximum payable shall not exceed
the largest applicable Single Loss Limit Of Liability; and |
|
c. |
the Companys liability for loss or losses sustained by more than one Assureds, or all
Assureds, shall not exceed the total amount for which the Company would be liable under this Bond if such loss or losses were sustained by any one Assured. |
|
9. |
Notice To Company Proof Legal Proceedings Against Company |
|
a. |
The Assured shall give the Company notice at the earliest practicable moment, not to exceed sixty
(60) days after discovery of a loss, in an amount that is in excess of 50% of the applicable Deductible Amount, as stated in Item 2 of the Declarations. |
|
b. |
The Assured shall furnish to the Company proof of loss, duly sworn to, with full particulars, within
six (6) months after such discovery. |
|
c. |
Certificated Securities listed in a proof of loss shall be identified by certificate or bond numbers,
if issued with them. |
|
d. |
Legal proceedings for the recovery of any loss under this Bond shall not be brought prior to the expiration
of sixty (60) days after the proof of loss is filed with the Company or after the expiration of twenty-four (24) months from the discovery of such loss. |
|
e. |
This Bond affords coverage only in favor of the Assured. No claim, suit, action or legal proceeding
shall be brought under the Bond by anyone other than the Assured. |
|
f. |
All such notices shall be given in writing to one of the following addresses: |
|
(1) |
ChubbClaimsFirstNotice@chubb.com; or |
|
(2) |
Attn: Chubb Claims Department |
Chubb
P.O. Box 5122
Scranton, PA 18505
|
g. |
All other notices to the Company under this Bond shall be given in writing to the following address:
|
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(1) |
NA.FinancialLines@chubb.com; or |
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PF-52903 (08/21) |
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Page 14 of 17 |
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Financial Institution Bond
For Investment Companies |
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(2) |
Attn: Chubb Underwriting Department |
Chubb
202B Halls Mill Road
Whitehouse Station, NJ 08889
All notices described above shall be effective on the date of receipt by the Company.
|
a. |
Coverage under this Bond shall apply only as excess over any other valid and collectible insurance,
indemnity or suretyship obtained by or on behalf of: |
|
(2) |
a Transportation Company; or |
|
(3) |
another entity on whose premises the loss occurred or which employed the person causing the loss or engaged
the messenger conveying the Property involved. |
|
b. |
Solely with respect to Insuring Clause 7, in the event of a loss covered under this Bond and also covered
under other valid and collectible insurance issued by the Company, or a parent, subsidiary or affiliate of the Company to the Assured, the Single Loss Limit Of Liability under this Bond shall be reduced by any payment under any other such
valid and collectible insurance and only the remainder, if any, shall be applicable to such loss covered hereunder. |
|
11. |
Securities Settlement |
In the event of a loss of Securities covered under this Bond, the Company may, at its sole discretion, purchase
replacement Securities, tender the value of the Securities in Money, or issue its indemnity to effect replacement Securities.
The indemnity required from the Assured under the terms of this Section against all loss, cost or expense arising from
the replacement of Securities by the Companys indemnity shall be:
|
a. |
for Securities having a value less than or equal to the applicable Deductible Amount one
hundred (100%) percent; |
|
b. |
for Securities having a value in excess of the applicable Deductible Amount but within the Single
Loss Limit Of Liability the percentage that the Deductible Amount bears to the value of the Securities; or |
|
c. |
for Securities having a value greater than the applicable Single Loss Limit Of Liability the
percentage that the Deductible Amount and portion in excess of the Single Loss Limit Of Liability bears to the value of the Securities. |
The value referred to in Sections 11.a., b., and c. is the value in accordance with Section 14., Valuation, regardless of
the value of such Securities at the time the loss under the Companys indemnity is sustained.
The Company is
not required to issue its indemnity for any portion of a loss of Securities which is not covered by this Bond, however, the Company may do so as a courtesy to the Assured in its sole discretion.
The Assured shall pay the proportion of the Companys premium charge for the Companys indemnity as set forth
in Sections 11.a., b., and c. No portion of the Single Loss Limit Of Liability shall be used as payment of premium for any indemnity purchased by the Assured to obtain replacement Securities.
|
12. |
Subrogation Assignment Recovery |
In the event of a payment under this Bond, the Company shall be subrogated to all of the Assureds rights of
recovery against any person or entity to the extent of such payment. On request, the Assured shall deliver to the Company an assignment of the Assureds rights, title and interest and causes of action against any person or entity
to the extent of such payment.
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PF-52903 (08/21) |
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Page 15 of 17 |
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Financial Institution Bond
For Investment Companies |
Recoveries, whether effected by the Company or by the Assured, shall
be applied net of the expense of such recovery, in the following order:
|
a. |
first, to the satisfaction of the Assureds covered loss which would otherwise have been paid
but for the fact that it is in excess of the Single Loss Limit Of Liability; |
|
b. |
second, to the Company in satisfaction of amounts paid in settlement of the Assureds claim;
|
|
c. |
third, to the Assured in satisfaction of the applicable Deductible Amount; and |
|
d. |
fourth, to the Assured in satisfaction of any loss suffered by the Assured which was not
covered under this Bond. |
Recovery from reinsurance or indemnity of the Company shall not be deemed a
recovery under this Section.
|
a. |
If the Bond is for a sole Assured, it shall not be terminated unless written notice shall have been
given by the acting party to the affected party and to the U.S. Securities and Exchange Commission not less than sixty (60) days prior to the effective date of such termination. |
|
b. |
If the Bond is for a joint Assured, it shall not be terminated unless written notice shall have been
given by the acting party to the affected party, and by the Company to all Assureds and to the U.S. Securities and Exchange Commission, not less than sixty (60) days prior to the effective date of such termination. |
|
c. |
If any Director, not acting in collusion with an Employee, discovers any dishonest or
fraudulent act committed by such Employee, whether in the employment of the Assured or otherwise, and whether against the Assured or any other person or entity, the Assured: |
|
i. |
shall immediately remove such Employee from a position that would enable such Employee to
cause the Assured to suffer a loss covered by this Bond; and |
|
ii. |
within forty-eight (48) hours of discovering an Employee has committed any dishonest or
fraudulent act, shall notify the Company of such action and provide full particulars of such dishonest or fraudulent act. |
|
d. |
This Bond terminates as to any Employee sixty (60) days after receipt by each Assured and
the U.S. Securities and Exchange Commission of written notice from the Company of its decision to terminate this Bond as to any Employee. |
|
a. |
Books Of Account Or Other Records |
The value of any loss of Property consisting of books of account or other records used by the Assured in the
conduct of its business shall be the amount paid by the Assured for blank books, blank pages, or other materials which replace the lost books of account or other records, plus the cost of labor paid by the Assured for the actual
transcription or copying of data to reproduce such books of account or other records.
Any loss of Money, or loss payable in Money, shall be paid in the Money of the United States of America or
the dollar equivalent of it, determined by the free market rate of exchange in effect at the time of discovery of such loss.
The value of any loss of Property, except as otherwise provided for in this Section 14., shall be the actual cash
value or the cost of repairing or replacing such Property with Property of like quality and value, whichever is less.
|
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|
PF-52903 (08/21) |
|
Page 16 of 17 |
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Financial Institution Bond
For Investment Companies |
The value of any loss of Securities shall be the average market value of such Securities on the business day
immediately preceding discovery of such loss, provided that the value of any Securities replaced by the Assured, with the consent of the Company and prior to the settlement of any claim for them, shall be the actual market value at the
time of replacement. In the case of a loss of interim certificates, warrants, rights or other Securities, the production of which is necessary to the exercise of subscription, conversion, redemption or deposit privileges, the value of them
shall be the market value of such privileges immediately preceding their expiration if the loss is not discovered until after their expiration. If no market price is quoted for such Securities or for such privileges, the value shall be fixed
by agreement of the parties.
VI. |
COMPLIANCE WITH APPLICABLE TRADE SANCTION LAWS |
This Bond does not apply to the extent that trade or economic sanctions law or other similar laws or regulations prohibit the
Company from providing insurance.
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PF-52903 (08/21) |
|
Page 17 of 17 |
RIGHTS AFTER TERMINATION ENDORSEMENT
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Named Assured
NUVEEN, LLC |
|
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Endorsement
Number 1 |
Bond Number
J06015554 |
|
Bond
Period 04-01-2024 to 04-01-2025 |
|
Effective Date of Endorsement April 1, 2024 |
Issued By
Federal Insurance Company |
|
|
|
|
THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.
This endorsement modifies insurance provided under the following:
FINANCIAL INSTITUTION BOND FOR INVESTMENT COMPANIES
In consideration of the premium charged, it is agreed that:
|
1. |
At any time prior to the cancellation or termination of this bond, whether by the Assured or by the
Company, the Assured may notify the Company that it desires to purchase an additional period of 365 days to discover and report loss sustained by the Assured prior to the effective date of such cancellation or termination. The
Assured shall pay an additional premium in the amount of one-hundred (100%) percent of the total annual premium of the current Bond Period. |
|
2. |
Upon receipt of such notice from the Assured, the Company shall give its written consent thereto;
provided, however, that such additional period of time to discover and report loss sustained by the Assured prior to the effective date of such cancellation or termination shall terminate immediately: |
|
a. |
on the effective date of any other insurance obtained by the Assured, its successor in business or
any other party replacing, in whole or in part, the insurance afforded by this Bond, whether or not such other insurance provides coverage for loss sustained prior to its effective date; or |
|
b. |
upon any takeover of the Assureds business by any State or Federal official or agency, or by
any receiver or liquidator, acting or appointed for this purpose, without the necessity of the Company giving notice of such termination. In the event that such additional period of time is terminated as provided above, the Company shall refund any
unearned premium. |
|
|
The right to purchase such additional period for the discovery of loss sustained by the Assured prior
to the effective date of such cancellation or termination may not be exercised by any State or Federal official or agency, or by any receiver or liquidator, acting or appointed to take over the Assureds business for the operation of or
for the liquidation thereof or for any other purpose. |
The title and any headings in this endorsement/rider are solely
for convenience and form no part of the terms and conditions of coverage.
All other terms, conditions and limitations of this Bond shall
remain unchanged.
|
/s/ Paul N. Morrisette |
Authorized Representative |
|
|
|
MS-382687 (04/24) |
|
Page 1 of 1 |
AMEND DEFINITION OF EMPLOYEE (FORMER EMPLOYEES) ENDORSEMENT
|
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|
|
Named Assured
NUVEEN, LLC |
|
|
|
Endorsement
Number 2 |
Bond Number
J06015554 |
|
Bond Period
04-01-2024 to 04-01-2025 |
|
Effective Date of
Endorsement April 1, 2024 |
Issued By
Federal Insurance Company |
|
|
|
|
THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.
In consideration of the premium charged, it is agreed that this Bond is amended by adding the following to the definition of Employee:
(8) |
who resigns, retires, or is terminated from the regular service of the Assured during the Bond
Period, provided that such: |
|
i. |
coverage shall be for a period of ninety (90) days subsequent to such resignation, retirement, or
termination but not beyond the expiration or termination of this Bond; and |
|
ii. |
resignation, retirement, or termination has not arisen from or in connection with the discovery by the
Assured of any actual or alleged dishonest, fraudulent, or criminal act(s) of such natural person. |
The title and
any headings in this endorsement/rider are solely for convenience and form no part of the terms and conditions of coverage.
All other
terms, conditions and limitations of this Bond shall remain unchanged.
|
/s/ Paul N. Morrisette |
Authorized Representative |
|
|
|
PF-51445 (02/19) |
|
Page 1 of 1 |
RENEWAL BOND ENDORSEMENT
|
|
|
|
|
Named Assured
NUVEEN, LLC |
|
|
|
Endorsement
Number 3 |
Bond Number
J06015554 |
|
Bond Period
04-01-2024 to 04-01-2025 |
|
Effective Date of
Endorsement April 1, 2024 |
Issued By
Federal Insurance Company |
|
|
|
|
THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.
In consideration of the premium charged, it is agreed that:
(1) |
This Bond together with all endorsements attached herein (the Renewal Bond), has been issued as
a renewal of 81900065. issued to Nuveen Investments, Inc. by, Federal Insurance Company (the Expiring Bond). The terms and conditions of either the Renewal Bond or the Expiring Bond, whichever in its entirety is more favorable to the
Assured, shall govern with respect to any loss, provided that in all events, any applicable Deductible and Single Loss Limit Of Liability of the Renewal Bond shall apply to any such loss. |
(2) |
In the event of any subsequent renewal of this Bond, this endorsement shall not be included in such
subsequent renewal and all obligations of the Company under this endorsement shall terminate as of 04-01-2025 and be of no further force and effect.
|
The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and
conditions of coverage.
All other terms, conditions and limitations of this Bond shall remain unchanged
|
/s/ Paul N. Morrisette |
Authorized Representative |
|
|
|
PF-51469 (02/19) |
|
Page 1 of 1 |
AMEND DISCOVERY AND NOTICE TO COMPANY ENDORSEMENT
|
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|
Named Assured
NUVEEN, LLC |
|
|
|
Endorsement
Number 4 |
Bond Number
J06015554 |
|
Bond Period
04-01-2024 to 04-01-2025
|
|
Effective Date of
Endorsement April 1, 2024 |
Issued By
Federal Insurance Company |
|
|
|
|
THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.
In consideration of the premium charged, it is agreed that this Bond is amended as follows:
(1) |
Section 7., Discovery, of the Conditions and Limitations is deleted and replaced with the following:
|
This Bond applies only to loss first discovered by the Office of General Counsel, the Head of the Risk Management Department,
or the Chief Information Officer of the first named Assured during the Bond Period. Discovery occurs at the earlier of the Office of General Counsel, the Head of the Risk Management Department, or the Chief Information Officer of the first
named Assured learning of:
|
a. |
facts which may subsequently result in a loss of a type covered by this Bond; or |
|
b. |
an actual or potential claim in which it is alleged that the Assured is liable to a third party,
|
regardless of when the act or acts causing or contributing to such loss occurred, even though the amount
of loss does not exceed the applicable Deductible Amount, or the exact amount or details of loss may not then be known.
(2) |
Section 9., Notice to Company Proof Legal Proceedings Against Company, of the Conditions
and Limitations, is amended by deleting paragraph a. and replacing with the following: |
|
a. |
The Assured shall give the Company notice at the earliest practicable moment, not to exceed ninety
(90) days after discovery of a loss by the Office of General Counsel, the Head of the Risk Management Department, or the Chief Information Officer of the first named Assured, in an amount that is in excess of 50% of the applicable
Deductible Amount, as stated in Item 2 of the Declarations. |
(3) |
Section 13., Termination, of the Conditions and Limitations, is amended by deleting the lead-in to paragraph c. and replacing with the following: |
|
c. |
If the Office of General Counsel, the Head of the Risk Management Department, or the Chief Information
Officer of the first named Assured, not acting in collusion with an Employee, discovers any dishonest or fraudulent act committed by such Employee, whether in the employment of the Assured or otherwise, and whether
against the Assured or any other person or entity, the Assured; |
The title and any headings in this
endorsement/rider are solely for convenience and form no part of the terms and conditions of coverage.
All other terms, conditions and limitations of
this policy shall remain unchanged.
|
/s/ Paul N. Morrisette |
Authorized Representative |
|
|
|
PF-52911 (08/21) |
|
Page 1 of 1 |
CO-SURETY ENDORSEMENT
|
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|
|
Named Assured
NUVEEN, LLC |
|
|
|
Endorsement
Number 5 |
Bond Number
J06015554 |
|
Bond Period
04-01-2024 to 04-01-2025 |
|
Effective Date of
Endorsement April 1, 2024 |
Issued By
Federal Insurance Company |
|
|
|
|
THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.
This endorsement modifies insurance provided under the following:
FINANCIAL INSTITUTION BOND FOR INVESTMENT COMPANIES
In consideration of the premium charged, it is agreed that this Bond is amended as follows:
(1) The following Definitions are added:
Controlling Company means Federal Insurance Company.
Company means, unless otherwise specified, each insurance company, including the Controlling Company, executing
this Endorsement.
Companies means, unless otherwise specified, all of the insurance companies, including the
Controlling Company, executing this Endorsement.
(2) The Conditions and Limitations are amended as follows:
Section 8., Limit Of Liability, is amended to include the following:
Each Company shall be liable only for such proportion of any Single Loss as the Single Loss Limit Of Liability
underwritten by such Company, as specified in this Endorsement, bears to the applicable Single Loss Limit Of Liability as stated in Item 2 of the Declarations, but in no event shall any Company be liable for an amount greater than that
underwritten by it.
Section 9., Notice to Company-Proof-Legal Proceedings Against Company, is amended to include the
following:
In the absence of a request from any Company to pay premiums directly to it, premiums for this Bond may
be paid to the Controlling Company for the account of all Companies.
In the absence of a request from any
Company that notice of claim and proof of loss be given to or filed directly with it, the Assured giving such notice to and the filing of such proof with the Controlling Company shall be deemed to be in compliance with the
terms, limitations and conditions of this Bond for the giving of notice of loss and the filing of proof of loss, if given and filed in accordance with the such terms, limitations and conditions.
Section 13., Termination, is amended to include the following:
The Controlling Company may give notice in accordance with the terms of this Bond terminating the Bond as an entirety or
as to any Employee or Assured, and any notice so given shall terminate the liability of all Companies as an entirety or as to such Employee or Assured, as the case may be.
Any Company, other than the Controlling Company, may give notice in accordance with the terms of this Bond,
terminating the entire liability of such other Company under this Bond or as to any person or entity.
In the
absence of a request from any Company that notice of termination by the Assured of this Bond in its entirety may be given to or filed directly with it, the giving of such notice in accordance with the terms of this Bond to the
Controlling Company shall terminate the liability of all Companies as an entirety. The Assured may terminate the entire liability of any Company under this Bond by giving notice of such termination to such Company
and by sending a copy of such notice to the Controlling Company.
In the event of the termination of this Bond as an
entirety, no Company shall be liable to the Assured for a greater proportion of any return premium due the Assured than the Single Loss Limit Of Liability underwritten by such Company bears to the applicable Single Loss
Limit Of Liability as stated in Item 2 of the Declarations.
|
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|
PF-52912 (08/21) |
|
Page 1 of 3 |
In the event of the termination of this Bond as to any Company, such
Company alone shall be liable to the Assured for any return premium due the Assured on account of such termination. The termination of this Bond as to any Company other than the Controlling Company shall not
terminate or otherwise affect the liability of the other Companies under this Bond.
The following Section is added:
Controlling Company
The execution by the Controlling Company of the Declarations and Endorsements or Special Letters attached to this Bond
shall constitute execution by all the Companies signing this Endorsement.
In the event this Bond is modified during
the Bond Period, the Controlling Company shall notify the Companies or their respective representatives, in writing, of such modification. Each Company shall be deemed to agree to such modification, unless such Company
notifies the Controlling Company or the Controlling Companys representative in writing that they do not agree to such modification. If a Company fails to object to a modification within fifteen (15) days of receipt of
notice from the Controlling Company, such Company shall be deemed to agree to such modification.
The title and any headings
in this endorsement/rider are solely for convenience and form no part of the terms and conditions of coverage.
All other terms,
conditions and limitations of this Bond shall remain unchanged.
|
|
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|
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|
|
Underwritten for a Single Loss Limit Of |
|
|
|
Federal Insurance Company |
Liability of $20,000,000 |
|
|
|
Controlling Company |
|
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|
|
|
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|
|
By |
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/s/ Paul N. Morrisette |
|
|
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|
|
Authorized Representative |
|
|
|
Underwritten for a Single Loss Limit Of |
|
|
|
Berkley Regional Insurance Company |
Liability of $17,164,830 |
|
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|
|
|
|
|
|
|
By |
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/s/ George E. Pierce, Jr. |
|
|
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|
|
Authorized Representative |
|
|
|
Underwritten for a Single Loss Limit Of |
|
|
|
Great American Insurance Company |
Liability of $19,552,830 |
|
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|
PF-52912 (08/21) |
|
Page 2 of 3 |
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By |
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/s/ Annamarie James |
|
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|
|
Authorized Representative |
|
|
|
Underwritten for a Single Loss Limit Of |
|
|
|
Continental Insurance Company |
Liability of $8,764,330 |
|
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By |
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/s/ John Moscato |
|
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|
|
Authorized Representative |
|
|
|
Underwritten for a Single Loss Limit Of |
|
|
|
The Fidelity & Deposit Company of Maryland |
Liability of $5,486,180 |
|
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By |
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/s/ Sally G. Sheldon |
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Authorized Representative |
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|
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Underwritten for a Single Loss Limit Of |
|
|
|
Travelers Casualty and Surety Company of America |
Liability of $13,346,830 |
|
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|
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By |
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/s/ Victoria Naumchevski |
|
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Authorized Representative |
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|
PF-52912 (08/21) |
|
Page 3 of 3 |
FRAUDULENT TRANSFER INSTRUCTION ENDORSEMENT
|
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Named Assured
NUVEEN, LLC |
|
|
|
Endorsement
Number 6 |
Bond Number
J06015554 |
|
Bond Period
04-01-2024 to 04-01-2025 |
|
Effective Date of
Endorsement April 1, 2024 |
Issued By
Federal Insurance Company |
|
|
|
|
THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.
This endorsement modifies insurance provided under the following:
FINANCIAL INSTITUTION BOND FOR INVESTMENT COMPANIES
In consideration of the premium charged, it is agreed that solely with respect to coverage afforded under this Endorsement, this Bond is
amended as follows:
(1) |
Item 2., Single Loss Limits Of Liability Deductible Amounts, of the Declarations is amended to
include the following: |
|
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|
|
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|
|
Insuring Clause |
|
Single Loss Limit of Liability |
|
Deductible Amount |
|
|
|
|
|
|
|
Fraudulent Transfer Instruction |
|
$84,315,000 |
|
$250,000 |
|
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|
|
(2) |
The following Insuring Clause is added: |
14. Fraudulent Transfer Instruction
Loss resulting directly from the Assured having, in good faith, transferred, paid, or delivered Money or
Securities in reliance upon a Transfer Instruction that purports, and reasonably appears, to have originated from:
|
b. |
an Employee acting on instructions of such Customer; or |
|
c. |
a financial institution acting on behalf of such Customer with authority to make such instructions,
|
but which Transfer Instruction was, in fact, fraudulently issued without the knowledge of the
Assured, Employee, or Customer.
As a condition precedent to coverage under this Insuring Clause 14,
the:
|
i. |
sender of the Transfer Instruction must have authenticated such Transfer Instruction with the
Customers authentication credentials or mechanism; |
|
ii. |
Employee acting on the Transfer Instruction must obtain Verification prior to any
single transfer, payment, or delivery of funds in excess of the Deductible Amount set forth in Paragraph (1) of this Endorsement; and |
|
iii. |
Assured shall assert any available claims, offsets, or defenses against such Customer, any
financial institution, or any other party to the transaction. |
(3) |
The Definition of Customer is deleted and replaced with the following: |
Customer means any shareholder of an Assured which has a written agreement with the Assured to transfer
such shareholders Money or Securities through a Voice Initiated Funds Transfer Instruction or a Transfer Instruction.
|
|
|
PF-52913 (08/21) |
|
Page 1 of 2 |
(4) |
The following Definitions are added: |
Telefacsimile means a system of transmitting a facsimile of a tangible document by electronic signals over telephone
lines to a piece of equipment maintained for the specific purpose of receiving such signals and printing such facsimile on a tangible medium.
Transfer Instruction means those instructions, other than any Voice Initiated Funds Transfer Instruction, which
authorize the transfer of Money in a Customers account, or of a Customers Securities, and which are:
|
a. |
transmitted to the Assured via: |
|
i. |
any electronic instruction, including an e-mail, that is delivered
through an Electronic Communication System and that is capable of retention by the recipient at the time of receipt; |
|
ii. |
telex, or Telefacsimile instruction; or |
|
iii. |
automated telephone system; and |
|
b. |
received by an Employee specifically authorized by the Assured to receive and act upon such
instructions. |
Verification means an Employee:
|
a. |
attempted to verify the authenticity of such Transfer Instruction by communicating with the
Customer, or natural person purporting to be the Customer via any communication method, other than e-mail, prior to any single transfer, payment, or delivery of funds, and contemporaneously
documented the communication method utilized and the result of such attempt in writing; and |
|
b. |
contemporaneously documented the use of the Customers authentication credentials or mechanism.
|
(5) |
Exclusion 2.a. is deleted and replaced with the following: |
|
a. |
the acts of an Employee, except for loss covered under: |
|
i. |
Insuring Clause 2 or 3 which results directly from misplacement, mysterious unexplainable disappearance, or
damage or destruction of Property; or |
|
ii. |
Insuring Clause 11 or 14; |
(6) |
The following Exclusion is added: |
This Bond does not cover loss resulting directly or indirectly from any Transfer Instruction from a:
|
b. |
natural person with authorized access to the Customers authentication credentials or mechanism.
|
The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and
conditions of coverage.
All other terms, conditions and limitations of this Bond shall remain unchanged.
|
/s/ Paul N. Morrisette |
Authorized Representative |
|
|
|
PF-52913 (08/21) |
|
Page 2 of 2 |
UNAUTHORIZED SIGNATURE ENDORSEMENT
|
|
|
|
|
Named Assured
NUVEEN, LLC |
|
|
|
Endorsement
Number 7 |
Bond Number
J06015554 |
|
Bond Period
04-01-2024 to 04-01-2025 |
|
Effective Date of
Endorsement 04-01-2024 |
Issued By
Federal Insurance Company |
|
|
|
|
THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.
This endorsement modifies insurance provided under the following:
FINANCIAL INSTITUTION BOND FOR INVESTMENT COMPANIES
In consideration of the premium charged, it is agreed that solely with respect to coverage afforded under this Endorsement this Bond is
amended as follows:
(1) |
Item 2., Single Loss Limits of Liability Deductible Amounts, of the Declarations is amended to
include the following: |
|
|
|
|
|
|
|
|
|
Insuring Clause |
|
Single Loss Limit of Liability |
|
Deductible Amount |
|
|
|
|
|
|
|
Fraudulent Transfer Instruction |
|
$84,315,000 |
|
$250,000 |
|
|
|
|
(2) |
The following Insuring Clause is added: |
Unauthorized Signature
Loss resulting directly from the Assured having accepted, paid, or cashed any check or Withdrawal Order made or
drawn on or against the account of a Customer, which bears the signature or endorsement of one other than a person whose name and signature is on file with the Assured as signatory on such account.
As a condition precedent to coverage under this Insuring Clause, the Assured shall have on file signatures of all
persons who are signatories on such account.
The title and any headings in this endorsement/rider are solely for convenience and form no
part of the terms and conditions of coverage.
All other terms, conditions and limitations of this Bond shall remain unchanged.
|
/s/ Paul N. Morrisette |
Authorized Representative |
|
|
|
PF-52918 (08/21) |
|
Page 1 of 1 |
SCHEDULE OF OTHER ASSUREDS ENDORSEMENT
|
|
|
|
|
Named Assured
NUVEEN, LLC |
|
|
|
Endorsement
Number 7 |
Bond Number
J06015554 |
|
Bond Period
04-01-2024 to 04-01-2025 |
|
Effective Date of
Endorsement 04-01-2024 |
Issued By
Federal Insurance Company |
|
|
|
|
THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.
This endorsement modifies insurance provided under the following:
FINANCIAL INSTITUTION BOND FOR INVESTMENT COMPANIES
In consideration of the premium charged, it is agreed that:
(1) |
In addition to the first named Assured, the Investment Company(ies) scheduled in Paragraph
(2) of this Endorsement is/are the other Assured(s) under this Bond. |
(2) |
Schedule of Other Assureds: |
NUVEEN MUNICIPAL TRUST
NUVEEN MULTISTATE TRUST I
NUVEEN MULTISTATE TRUST II
NUVEEN MULTISTATE TRUST III
NUVEEN MULTISTATE TRUST IV
NUVEEN INVESTMENT TRUST
NUVEEN INVESTMENT TRUST II
NUVEEN INVESTMENT TRUST III
NUVEEN INVESTMENT TRUST V
NUVEEN MANAGED ACCOUNTS PORTFOLIOS TRUST
NUVEEN INVESTMENT FUNDS, INC.
NUSHARES ETF TRUST
CLOSED-END FUNDS - MUNI NON-LEVERAGED
Nuveen AMT-Free Municipal Value Fund
Nuveen California Municipal Value Fund
Nuveen Municipal Income Fund, Inc.
Nuveen Municipal Value Fund, Inc.
Nuveen New York Municipal Value Fund
Nuveen Select Maturities Municipal Fund
CLOSED-END FUNDS - MUNI LEVERAGED
Nuveen AMT-Free Municipal Credit Income Fund
Nuveen AMT-Free Quality Municipal Income Fund
Nuveen Arizona Quality Municipal Income Fund
Nuveen California AMT-Free Quality Municipal Income Fund
Nuveen California Quality Municipal Income Fund
Nuveen Dynamic Municipal Opportunities Fund
Nuveen Massachusetts Quality Municipal Income Fund
Nuveen Minnesota Quality Municipal Income Fund
Nuveen Missouri Quality Municipal Income Fund
Nuveen Municipal Credit Income Fund
Nuveen Municipal Credit Opportunities Fund
Nuveen Municipal High Income Opportunity Fund
Nuveen New Jersey Quality Municipal Income Fund
Nuveen New York AMT-Free Quality Municipal Income Fund
Nuveen New York Quality Municipal Income Fund
Nuveen Pennsylvania Quality Municipal Income Fund
Nuveen Quality Municipal Income Fund
Nuveen Virginia Quality Municipal Income Fund
CLOSED-END FUNDS - TAXABLE
Nuveen Core Equity Alpha Fund
Nuveen Core Plus Impact Fund
Nuveen Credit Strategies Income Fund
Nuveen Dow 30SM Dynamic Overwrite Fund
Nuveen Floating Rate Income Fund
Nuveen Global High Income Fund
Nuveen Mortgage and Income Fund
Nuveen Multi-Asset Income Fund
Nuveen Multi-Market Income Fund
Nuveen NASDAQ 100 Dynamic Overwrite Fund
Nuveen Preferred & Income Opportunities Fund
Nuveen Preferred and Income Term Fund
Nuveen Real Asset Income and Growth Fund
Nuveen Real Estate Income Fund
Nuveen S&P 500 Buy-Write Income Fund
Nuveen S&P 500 Dynamic Overwrite Fund
Nuveen Taxable Municipal Income Fund
Nuveen Variable Rate Preferred & Income Fund
SELECT PORTFOLIOS
Nuveen California Select Tax-Free Income Portfolio
Nuveen New York Select Tax-Free Income Portfolio
Nuveen Select Tax-Free Income Portfolio
INTERVAL FUND
Nuveen Enhanced High Yield Municipal Bond Fund
TIAA-CREF FUNDS
TIAA-CREF LIFE FUNDS
The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and conditions of coverage.
All other terms, conditions and limitations of this Bond shall remain unchanged.
|
/s/ Paul N. Morrisette |
Authorized Representative |
|
|
|
PF-52916 (08/21) |
|
Page 1 of 1 |
Nuveen Funds Board of Directors Meeting
June 17, 2024
|
|
|
Item 3. |
|
Annual review of fidelity bond coverage and consider approval of the joint participation in such policies and the
manner in which premiums are allocated.
RESOLVED, that each Funds participation with certain other management investment companies advised by Nuveen Fund Advisors, LLC or
Teachers Advisors, LLC in the purchase and maintenance of fidelity bond coverage as required by Rule 17g-1 under the 1940 Act, and the payment by each Fund of that portion of the premium for such coverage as
may be allocated to it in accordance with its proportionate share of the aggregate net assets of the Funds, is hereby approved.
FURTHER RESOLVED, that the officers of each Fund be, and they hereby are, authorized and directed to make application for and maintain fidelity
bond coverage for each Fund, jointly with such other Funds as they, in their judgment, shall deem advisable and to enter into an agreement substantially in the form presented to this meeting with the other insured Funds concerning such coverage as
required by Rule 17g-1(f) under the 1940 Act.
FURTHER RESOLVED, that fidelity bond coverage insuring the Funds in the amount of $84.3 million, or such greater amounts as officers of
the Funds may from time to time determine in accordance with the provisions of Rule 17g-1 of the 1940 Act, is hereby deemed to be reasonable in form and amount and is hereby approved.
FURTHER RESOLVED, that the Secretary or any Assistant
Secretary of the Funds is hereby designated the officer to make the filings and give the notices required by Rule 17g-1 under the 1940 Act. |
Nuveen Funds Complex
Rule 17g-1 Fidelity Bond Filing
Amount of Single Insured Bond for Joint Insureds
Period of Coverage: April 1, 2024 - April 1, 2025
|
|
|
|
|
Fund |
|
Single Insured Bond Coverage |
|
|
|
Nuveen Real Estate Income Fund |
|
|
750,000 |
|
Nuveen Preferred & Income Opportunities Fund |
|
|
2,500,000 |
|
Nuveen Credit Strategies Income Fund |
|
|
1,250,000 |
|
Nuveen Floating Rate Income Fund |
|
|
1,700,000 |
|
Nuveen S&P 500 Buy-Write Income Fund |
|
|
1,500,000 |
|
Nuveen S&P 500 Dynamic Overwrite Fund |
|
|
750,000 |
|
Nuveen Core Equity Alpha Fund |
|
|
600,000 |
|
Nuveen Mortgage and Income Fund |
|
|
525,000 |
|
Nuveen Taxable Municipal Income Fund |
|
|
900,000 |
|
Nuveen Real Asset Income and Growth Fund |
|
|
900,000 |
|
Nuveen Select Tax-Free Income Portfolio |
|
|
900,000 |
|
Nuveen Preferred and Income Term Fund |
|
|
900,000 |
|
Nuveen California Select Tax-Free Income Portfolio |
|
|
450,000 |
|
Nuveen New York Select Tax-Free Income Portfolio |
|
|
400,000 |
|
Nuveen Municipal Value Fund, Inc. |
|
|
1,500,000 |
|
Nuveen California Municipal Value Fund |
|
|
750,000 |
|
Nuveen New York Municipal Value Fund |
|
|
600,000 |
|
Nuveen Municipal Income Fund, Inc. |
|
|
525,000 |
|
Nuveen Select Maturities Municipal Fund |
|
|
525,000 |
|
Nuveen Pennsylvania Quality Municipal Income Fund |
|
|
900,000 |
|
Nuveen Arizona Quality Municipal Income Fund |
|
|
600,000 |
|
Nuveen Massachusetts Quality Municipal Income Fund |
|
|
600,000 |
|
Nuveen Virginia Quality Municipal Income Fund |
|
|
750,000 |
|
Nuveen Missouri Quality Municipal Income Fund |
|
|
350,000 |
|
Nuveen Quality Municipal Income Fund |
|
|
2,500,000 |
|
Nuveen California Quality Municipal Income Fund |
|
|
2,100,000 |
|
Nuveen New York Quality Municipal Income Fund |
|
|
900,000 |
|
Nuveen New Jersey Quality Municipal Income Fund |
|
|
1,000,000 |
|
Nuveen Municipal Credit Income Fund |
|
|
2,500,000 |
|
Nuveen AMT-Free Municipal Credit Income Fund |
|
|
2,500,000 |
|
Nuveen AMT-Free Quality Municipal Income Fund |
|
|
2,500,000 |
|
Nuveen California AMT-Free Quality Municipal Income Fund |
|
|
1,250,000 |
|
Nuveen New York AMT-Free Quality Municipal Income Fund |
|
|
1,500,000 |
|
Nuveen Municipal High Income Opportunity Fund |
|
|
1,500,000 |
|
Nuveen AMT-Free Municipal Value Fund |
|
|
750,000 |
|
Nuveen Multi-Market Income Fund |
|
|
450,000 |
|
Nuveen Global High Income Fund |
|
|
750,000 |
|
Nuveen Dow 30 Dynamic Overwrite Fund |
|
|
900,000 |
|
Nuveen Minnesota Quality Municipal Income Fund |
|
|
525,000 |
|
Nuveen NASDAQ 100 Dynamic Overwrite Fund |
|
|
1,250,000 |
|
Nuveen Municipal Credit Opportunities Fund |
|
|
1,250,000 |
|
Nuveen Core Plus Impact Fund |
|
|
900,000 |
|
Nuveen Dynamic Municipal Opportunities Fund |
|
|
1,000,000 |
|
Nuveen Multi-Asset Income Fund |
|
|
900,000 |
|
Nuveen Variable Rate Preferred & Income Fund |
|
|
1,000,000 |
|
Nuveen Enhanced High Yield Municipal Bond Fund |
|
|
900,000 |
|
|
|
Nuveen Municipal Trust |
|
|
2,500,000 |
|
Nuveen Multistate Trust I |
|
|
1,500,000 |
|
Nuveen Multistate Trust II |
|
|
2,500,000 |
|
Nuveen Multistate Trust III |
|
|
1,000,000 |
|
Nuveen Multistate Trust IV |
|
|
1,500,000 |
|
Nuveen Investment Trust |
|
|
1,000,000 |
|
Nuveen Investment Trust II |
|
|
2,500,000 |
|
Nuveen Investment Trust III |
|
|
1,700,000 |
|
Nuveen Investment Trust V |
|
|
2,500,000 |
|
Nuveen Managed Accounts Portfolios Trust |
|
|
1,500,000 |
|
Nuveen Investment Funds, Inc. |
|
|
2,500,000 |
|
NuShares ETF Trust |
|
|
2,500,000 |
|
TIAA-CREF Funds |
|
|
2,500,000 |
|
TIAA-CREF Life Funds |
|
|
1,700,000 |
|
AGREEMENT WITH RESPECT TO CERTAIN RECOVERY
UNDER JOINT FIDELITY BOND
This Agreement, made this 17th day of June, 2024 by and between the undersigned corporations or business trusts (the
Funds), each of which is a registered investment company managed by Nuveen Fund Advisors, LLC or Teachers Advisors, LLC.
WITNESSETH:
WHEREAS, the boards of directors or trustees of each of the Funds, including a majority of the board members of each Fund who
are not interested persons of such Fund, have approved obtaining the fidelity bond coverage required for each Fund by Rule 17g-1 under the Investment Company Act of 1940 in the form of one or more
bonds, each of which names a number of the Funds as insured (the joint insured bonds); and
WHEREAS, Rule 17g-1(f) requires each registered management investment company named as an insured in a joint insured bond to enter into an Agreement with all other named insureds with respect to sharing of any recovery under such
bond in the event of a loss sustained by it and another named insured;
NOW THEREFORE, IT IS AGREED:
|
1. |
In the event recovery is received under any joint insured bond as a result of a loss sustained by any two or
more of the Funds covered by such bond, each Fund sustaining a loss shall receive an equitable and proportionate share of the recovery, but at least equal to the amount that it would have received had it provided and maintained a single insured bond
with the minimum coverage required by Rule 17g-1(d)(1). |
|
2. |
This Agreement shall continue in effect for such time as the parties hereto shall be named as insureds under
one or more joint insured fidelity bonds designed to satisfy the requirements of Rule 17g-1, and shall not be terminated by any change in the Funds covered by any such bond or in the amount of terms of
coverage provided by any such bond or by any change in the issuer of any such bond. |
|
3. |
This Agreement supersedes any prior agreement among any of the Funds relating to the subject matter hereof.
|
IN WITNESS WHEREOF, an officer of such parties has executed this Agreement on behalf of each of the parties, as of the
day and date first written above.
NUVEEN TAXABLE CLOSED-END FUNDS
Nuveen Real Estate Income Fund
Nuveen Preferred &
Income Opportunities Fund
Nuveen Credit Strategies Income Fund
Nuveen Floating Rate Income Fund
Nuveen S&P 500 Buy-Write Income Fund
Nuveen S&P 500 Dynamic Overwrite Fund
Nuveen Core Equity Alpha Fund
Nuveen Mortgage and Income Fund
Nuveen Taxable Municipal Income Fund
Nuveen Real Asset
Income and Growth Fund
Nuveen Preferred and Income Term Fund
Nuveen Multi-Market Income Fund
Nuveen Global High Income Fund
Nuveen Dow 30 Dynamic Overwrite Fund
Nuveen NASDAQ 100
Dynamic Overwrite Fund
Nuveen Core Plus Impact Fund
Nuveen
Multi-Asset Income Fund
Nuveen Variable Rate Preferred & Income Fund
NUVEEN CLOSED-END MUNICIPAL BOND FUNDS
Nuveen Select Tax-Free Income Portfolio
Nuveen California Select Tax-Free Income Portfolio
Nuveen New York Select Tax-Free Income Portfolio
Nuveen Municipal Value Fund, Inc.
Nuveen California
Municipal Value Fund
Nuveen New York Municipal Value Fund
Nuveen Municipal Income Fund, Inc.
Nuveen Select
Maturities Municipal Fund
Nuveen Pennsylvania Quality Municipal Income Fund
Nuveen Arizona Quality Municipal Income Fund
Nuveen
Massachusetts Quality Municipal Income Fund
Nuveen Virginia Quality Municipal Income Fund
Nuveen Missouri Quality Municipal Income Fund
Nuveen
Quality Municipal Income Fund
Nuveen California Quality Municipal Income Fund
Nuveen New York Quality Municipal Income Fund
Nuveen New
Jersey Quality Municipal Income Fund
Nuveen Municipal Credit Income Fund
Nuveen AMT-Free Municipal Credit Income Fund
Nuveen AMT-Free Quality Municipal Income Fund
Nuveen California AMT-Free Quality Municipal Income Fund
Nuveen New York AMT-Free Quality Municipal Income Fund
Nuveen Municipal High Income Opportunity Fund
Nuveen AMT-Free Municipal Value Fund
Nuveen Minnesota Quality Municipal Income Fund
Nuveen Municipal Credit Opportunities Fund
Nuveen Dynamic
Municipal Opportunities Fund
NUVEEN INTERVAL FUND
Nuveen Enhanced High Yield Municipal Bond Fund
NUVEEN OPEN-END FUNDS
Nuveen Municipal Trust
Nuveen Multistate Trust I
Nuveen Multistate Trust II
Nuveen Multistate Trust III
Nuveen Multistate Trust IV
Nuveen Investment Trust
Nuveen Investment Trust II
Nuveen Investment Trust III
Nuveen Investment Trust V
Nuveen Managed Accounts Portfolios Trust
Nuveen Investment
Funds, Inc.
NuShares ETF Trust
TIAA-CREF Funds
TIAA-CREF Life Funds
|
|
|
|
|
BY: /s/ Mark J. Czarniecki |
|
|
Mark J. Czarniecki |
|
|
Vice President |
Grafico Azioni Nuveen Muni Value (NYSE:NUV)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Nuveen Muni Value (NYSE:NUV)
Storico
Da Dic 2023 a Dic 2024