Nuveen Equity Long/Short Fund Class A (NELAX)

The primary objective of this investment vehicle is to achieve substantial long-term capital growth, aiming for returns that demonstrate minimal correlation with the overall performance of the U.S. stock market. It accomplishes this by constructing a diversified portfolio of stocks, employing both "long" positions (buying shares expected to increase in value) and "short" positions (selling borrowed shares in anticipation of a price decline). Nearly all the equity securities selected for these long and short bets will be components of the Russell 1000 Index at the time of their inclusion, leading the fund to concentrate its investments significantly in large-capitalization companies.