Nuveen Multi-Asset Income Fund: Sub‑Adviser Merger and Reallocation

What Happened

• Nuveen Multi‑Asset Income Fund (NMAI) filed an 8‑K (Item 8.01) reporting that Teachers Advisors, LLC (“TAL”) merged into Nuveen Asset Management, LLC (“NAM”), effective at the close of business on July 31, 2026. As a result, the sub‑advisory agreement between the Fund’s investment adviser, Nuveen Fund Advisors, LLC (“NFAL”), and TAL terminated effective July 31, 2026. Effective August 1, 2026, Fund assets previously managed by TAL were reallocated to NAM, which will provide the same level of services.

Key Details

• Merger completed: close of business July 31, 2026; reallocation effective August 1, 2026.
• Parties: TAL merged into NAM; NFAL remains the Fund’s investment adviser.
• No change in fees: the Fund’s fee paid to NFAL and the fee NFAL pays to NAM did not change as a result of the merger.
• No changes to the Fund’s portfolio management team, investment objective, policies, principal strategies, principal risks, or fees and expenses.

Why It Matters

• This is an internal consolidation among Nuveen affiliates (TAL and NAM are Nuveen subsidiaries) that reorganizes who manages certain Fund assets. For investors, the filing indicates an operational transition only — the adviser structure moved within the same family of firms, and there are no fee, strategy, manager, or risk changes disclosed.