Download Nuveen Small Cap Value Fund

MUTUAL FUNDS
VALUE
2Q 2017
AS OF 6/30/17
Nuveen Small Cap Value Fund
A | FSCAX
C | FSCVX
R3 | FSVSX
I | FSCCX
R6 | FSCWX
0123456789$,.
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OVERALL MORNINGSTAR RATING™
GROWTH OF A $10,000 INVESTMENT SINCE INCEPTION
HHHHH
HHHHH
$120,000
Class I
Class A
Among 337 Small Value Funds
based on risk-adjusted return
$80,000
Morningstar ratings may vary among share classes and are based on historical
risk-adjusted total returns, which are not indicative of future results.
$40,000
$0
8/94
FUND FACTS
Top Ten Positions2
INVESCO Mortgage Capital
Renasant Corp
Plantronics Inc
Banner Corporation
Webster Financial Corp
Sterling Bancorp/Ny
Radian Group Inc
Summit Hotel Properties Inc
Stag Industrial Inc
Preferred Bank Los Angeles
Sector Allocation2
% Fund
Financials
33.6
Industrials
13.7
Information Technology
11.8
Consumer Discretionary
9.8
Real Estate
8.0
Energy
5.5
Materials
5.3
Health Care
5.2
Utilities
4.1
Telecommunication Services
1.0
Consumer Staples
0.6
% Fund
2.2
2.1
2.1
2.0
2.0
2.0
1.9
1.8
1.7
1.7
% Russell 2000
Value Index
30.6
11.7
9.5
10.6
11.6
6.1
4.1
5.6
6.6
0.7
2.8
$108,543
6/97
6/99
6/01
6/03
6/05
6/07
6/09
6/11
6/13
6/15
6/17
Class A Shares – Calculated without sales charge and with all distributions reinvested.
CALENDAR YEAR RETURNS (%)
Class A without sales charge
Class I
Morningstar Small Value Cat.
Russell 2000 Value Index
2008
-29.90
-29.73
-32.45
-28.92
2009
18.27
18.68
29.89
20.58
2010 2011 2012 2013 2014 2015 2016
28.22 -0.09 14.16 38.67 4.86 2.73 30.83
28.32 0.25 14.43 38.97 5.13 2.95 31.16
25.74 -4.34 16.02 36.20 3.30 -6.71 25.99
24.50 -5.50 18.05 34.52 4.22 -7.47 31.74
2017
YTD
-1.15
-1.03
0.52
0.54
AVERAGE ANNUALIZED TOTAL RETURNS (%)
Class A without sales charge
Class A with max. 5.75% charge
Class C
Class R3
Class I
Morningstar Small Value Cat. Avg
Russell 2000 Value Index
Expense Ratios (%)1
Gross
Net
Inception
Date
8/1/94
8/1/94
2/1/99
9/24/01
8/1/94
–
–
1
Year
21.40
14.45
20.50
21.06
21.68
21.15
24.86
3
Years
9.78
7.64
8.95
9.50
10.05
5.18
7.02
5
Years
15.96
14.59
15.11
15.67
16.25
12.47
13.39
Class A
1.32
1.22
Class C
2.07
1.97
Class R3
1.57
1.47
Class I
1.07
0.97
10
Years
7.84
7.20
7.03
7.56
8.10
5.97
5.92
Since
Inception
10.97
10.68
9.03
10.43
11.23
10.35
10.45
Returns quoted represent past performance which is no guarantee of future results. Investment returns and principal value will fluctuate so that when
shares are redeemed, they may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown. Total returns for
a period of less than one year are cumulative. Returns without sales charges would be lower if the sales charges were included. Returns assume reinvestment of dividends
and capital gains. For performance, current to the most recent month-end visit nuveen.com or call 800.257.8787. Performance shown for the Benchmarks Since
Inception is as of the Fund’s oldest share class.
Class C shares have a 1% CDSC for redemptions within less than one year, which is not reflected in the one-year total return. Class R3 shares have no sales charge and are
available only to certain retirement plan clients. Class I shares have no sales charge and may be purchased by specified classes of investors.
1 Expense ratios are based on the Fund's most recent fiscal year end. Management fees and fee waivers and/or expense reimbursements have been restated to
reflect current contractual fees. The net expense ratio reflects a contractual commitment by the Fund's investment adviser to waive fees and/or reimburse
expenses through July 31, 2019. Absent the waiver and/or reimbursement, expenses would be higher and total returns would be less.
2 As a percentage of the Fund's total net assets. Totals may not add up to 100% due to rounding. Positions are subject to change. The positions listed are not
recommendations to buy or sell.
NOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE
Nuveen Small Cap Value Fund
FUND DESCRIPTION
AS OF 6/30/17
SYMBOLS
A diversified, small-cap value portfolio that buys quality
companies trading at a discount to their intrinsic value
only when a forthcoming catalyst is apparent.
CONTACT US
Share Class
A
C
R3
I
R6
NASDAQ
FSCAX
FSCVX
FSVSX
FSCCX
FSCWX
CUSIP
670678309
670678341
670690825
670678200
670693837
INVESTMENT PROCESS
We believe our comprehensive, research-driven approach to stock selection offers the best opportunity to achieve
superior, risk-adjusted returns over the long-term.
The Small Cap Value team collaborates with our fundamental and quantitative teams, as well as the Small Cap Select and
Small Cap Growth teams, as they seek to identify the best opportunities in the small-cap value arena and make timely
buy and sell decisions.
Portfolio Construction Process
The Small Cap Value team uses a disciplined process to identify companies that exhibit:
> Compelling fundamentals, such as improving profitability and shareholder-oriented management.
> Undervaluation, signified by a large spread between market and fair value, and attractiveness relative to historical
valuation measure.
> An identifiable catalyst that could close the valuation gap between market and fair value over the subsequent one- to
two-year period.
MORNINGSTAR RANKINGS AND PERCENTILES
1 Year
Class A
Class R3
Class I
3 Years
%
46
50
41
800.752.8700
PORTFOLIO STATISTICS
Total Net Assets – all
classes ($mil.)
Beta (3 years)
Weighted Average
Market Cap ($bil.)
P/E Ratio (Forward
12-months)
Turnover Ratio (Trailing
4 Quarters)
Standard Deviation (3 years)
Number of Positions
Fund
$1,621.2
Russell 2000
Value Index
–
0.99
$2.2
1.00
$1.8
15.3
16.3
36%
N/A
15.52
84
15.35
1,399
This data relates to the portfolio and the underlying securities held in the
portfolio. It should not be construed as a measure of performance for the Fund
itself. Fund Beta and Standard Deviation are based on Class I Share monthly
returns.
PORTFOLIO MANAGEMENT
Morningstar Small Value Category
Rank
180/392
196/392
161/392
NUVEEN.COM
Rank
8/337
11/337
4/337
5 Years
%
3
3
1
Rank
6/294
7/294
5/294
10 Years
%
2
3
2
Rank
19/198
27/198
12/198
%
10
14
6
Morningstar Ranking/Number of Funds in Category displays the Fund's actual rank within its Morningstar Category based on average annual total return and number
of funds in that Category. The returns assume reinvestment of dividends and do not reflect any applicable sales charge. Absent expense limitation, total return would
be less. Morningstar Percentile Rankings are the Fund's total return rank relative to all the funds in the same Morningstar category, where 1 is the highest percentile
rank and 100 is the lowest percentile rank.
Effective April 13, 2017, David Johnson and Andrew Rem were added as
portfolio managers to the Nuveen Small Cap Value Fund.
Karen Bowie, CFA
33 years industry experience
David Johnson, CFA
27 years industry experience
Andrew Rem, CFA
20 years industry experience
A WORD ON RISK
Mutual fund investing involves risk; principal loss is possible. There is no guarantee the Fund's investment objectives will be achieved. Prices of equity securities may decline significantly over short or extended periods of time. Investments in smaller
companies are subject to greater volatility than those of larger companies. Non-U.S. investments involve risks such as currency fluctuation, political and economic instability, lack of liquidity and differing legal and accounting standards. These risks are
magnified in emerging markets. These and other risk considerations, such as derivatives risk, are described in detail in the Fund's prospectus.
Before investing, carefully consider fund investment objectives, risks, charges and expenses. For this and other information that should be read carefully, please request a prospectus or summary prospectus from your
financial advisor or Nuveen at 800.257.8787 or visit nuveen.com.
This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or
circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor's objectives and circumstances and in consultation with his or her advisors.
For the period ended June 30, 2017, Morningstar rated this Fund's I and A shares, for the overall, three-, five-, and 10-year periods (if applicable). The Class I shares received 5, 5, 5, and 4 stars and the Class A shares
received 5, 5, 5, and 4 stars among 337, 337, 294, and 198 Small Value Funds, respectively. Class A share star ratings do not include the effect of sales charges which would lower performance. These ratings are for
Class I and A shares only; other classes may have different performance characteristics. Investment performance reflects applicable fee waivers. Without such waivers, total returns would be reduced and ratings could
be lower.
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year
history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's
monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the
next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable)
Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year
rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating
periods. ©2017 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely.
Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
GLOSSARY
Weighted Average Market Capitalization is the portfolio-weighted mean capitalizations of all equity securities. Beta is a measure of the volatility of a portfolio relative to the overall market. A beta less than 1.0 indicates lower risk than the market;
a beta greater than 1.0 indicates higher risk than the market. Morningstar Small Value Category Average represents the average annualized total return for all reporting funds in the Category. Russell 2000 Value Index measures the
performance of those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values. P/E Ratio of a stock is calculated by dividing the current price of the stock by its forecasted 12 months' earnings per share. The average
of the price/earnings ratio of a fund is a weighted harmonic average of all the current P/E ratios (excluding negatives) of the stocks in the fund's portfolio. This should not be construed as a forecast of the Fund's performance. Standard Deviation is a
statistical measure of the historical volatility of a mutual fund or portfolio; the higher the number the greater the risk. Turnover Ratio is a measure of the Fund's trading activity computed by taking the lesser of purchases or sales (excluding all securities
with maturities of less than one year) and dividing by average monthly assets.
The Fund features portfolio management by Nuveen Asset Management, LLC, an affiliate of Nuveen, LLC.
Nuveen Securities, LLC, member FINRA and SIPC, is a subsidiary of Nuveen, LLC. | 333 West Wacker Drive | Chicago, IL 60606 | 800.257.8787 | nuveen.com
224778-INV-Q-10/17
MFS-SCV-0617D