Attached files
| file | filename |
|---|---|
| EX-99.1 - PRESS RELEASE - Nuveen Diversified Commodity Fund | d274306dex991.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 21, 2011
Nuveen Diversified Commodity Fund
(Exact name of registrant as specified in its charter)
| Delaware | 001-34879 | 27-2048014 | ||
| (State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 333 West Wacker Drive Chicago, Illinois |
60606 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (877) 827-5920
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 8.01 | Other Events |
(a) The Nuveen Diversified Commodity Fund (“CFD”) has approved an open-market share repurchase program. Effective immediately, CFD may repurchase an aggregate of up to 10 percent of its outstanding common shares (approximately 920,000 shares) in open-market transactions at management’s discretion. A copy of the press release regarding the share repurchase program dated December 21, 2011 is filed as Exhibit 99.1 to this report and is incorporated by reference into this Item 8.01.
(b) On December 21, 2011 the Nuveen Long/Short Commodity Total Return Fund filed pre-effective amendment No. 3 to its registration statement on Form S-1, which contained performance information of CFD. That information is set forth below.
NCAM PERFORMANCE RECORD
As required by the CFTC, the performance capsule and rates of return table below reflect performance of CFD, the sole fund for which the manager has previously served as commodity pool operator, from CFD’s initial public offering on September 27, 2010 through October 31, 2011. CFD is traded on the NYSE Amex and invests in a diversified portfolio of commodity futures and forward contracts on a long-only basis pursuant to Gresham Investment Management LLC’s Tangible Asset Program® (“TAP®”) with an integrated program of writing commodity call options, collectively referred to as TAP PLUSSM.
Performance Capsule for the Nuveen Diversified Commodity Fund
Data as of October 31, 2011
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
| Name of CPO: |
Nuveen Commodities Asset Management, LLC | |
| Name of Commodity Subadvisor: |
Gresham Investment Management LLC | |
| Name of Collateral Subadvisor: |
Nuveen Asset Management, LLC | |
| Name of Commodity Pool: |
Nuveen Diversified Commodity Fund | |
| Type of Pool: |
Publicly Offered | |
| Inception of Trading: |
September 30, 2010 | |
| Initial Aggregate Gross Capital Contributions(1): |
$231.7 million | |
| Current Net Asset Value: |
$226.2 million | |
| Largest Monthly Draw-Down(2): |
-12.84% (September 2011) | |
| Worst Peak-to-Valley Draw-Down(3): |
-17.63% (from April 2011 to September 2011) |
Notes to the Performance Capsule:
| (1) | Initial aggregate gross capital contributions represent offering proceeds from CFD’s initial public offering before deduction of underwriting discounts and offering expenses, and reflect initial issuance of 8,550,000 shares as well as the issuance of an additional 716,000 shares pursuant to the underwriters’ over-allotment option. |
| (2) | Largest monthly draw-down represents CFD’s largest negative monthly return on net asset value for any calendar month since its initial public offering. |
| (3) | Peak-to-valley draw-down represents CFD’s largest cumulative compounded negative monthly return on net asset value over any period of successive negative monthly returns on net asset value. |
Rates of Return(1)
Data as of October 31, 2011
Performance Data for the Nuveen Diversified Commodity Fund
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
| 2010 | 2011 | |||||||
| Jan |
1.89 | % | ||||||
| Feb |
2.12 | % | ||||||
| Mar |
2.31 | % | ||||||
| Apr |
2.84 | % | ||||||
| May |
-4.94 | % | ||||||
| Jun |
-3.67 | % | ||||||
| Jul |
3.18 | % | ||||||
| Aug |
0.02 | % | ||||||
| Sep |
-4.72 | %(2),(3) | -12.84 | % | ||||
| Oct |
3.76 | % | 6.95 | % | ||||
| Nov |
.71 | % | ||||||
| Dec |
9.29 | % | ||||||
| Year-to-Date |
8.80 | %(1),(3) | -3.56 | %(1) | ||||
Notes to Rates of Return Table:
| (1) | Rates of return represent monthly CFD total returns on net asset value, assuming reinvestment of distributions. The 2010 CFD Year-to-Date return represents the cumulative compounded monthly total return on net asset value for the period since CFD’s initial public offering on September 27, 2010. The 2011 CFD Year-to-Date return represents the cumulative compounded monthly total return on net asset value for the period from January 1, 2011 to October 31, 2011. |
| (2) | Return reflects decline in CFD’s net asset value between CFD’s initial public offering on September 27, 2010 and CFD’s September 30, 2010 inception of portfolio trading activities due to the effect of underwriting discounts and commissions and offering expenses. |
| (3) | Return reflects the inclusion of underwriting discounts and commissions and offering expenses incurred in connection with the initial public offering. |
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit Number |
Description of Exhibit | |
| 99.1 | Press Release, dated December 21, 2011 | |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| NUVEEN DIVERSIFIED COMMODITY FUND
By: Nuveen Commodities Asset Management, LLC, its Manager
Date: December 21, 2011 |
| /s/ William Adams IV |
| William Adams IV President (Principal Executive Officer) |