About the company
The Nuveen High Income 2023 Target Term Fund is a closed-end fund that aims to generate a consistent and high level of current income while also ensuring the return of its original net asset value per share. This fund employs various investment strategies, including the use of derivative instruments, to achieve its objectives. One of the key investment strategies employed by the fund is the use of financial futures contracts and options. These derivative instruments allow the fund to gain exposure to a wide range of financial assets, such as stock market indices, commodities, or interest rates. By utilizing futures contracts and options, the fund can potentially enhance its returns or manage risk more effectively. Additionally, the Nuveen High Income 2023 Target Term Fund invests in swaps, including interest rate and currency swaps. Swaps are agreements between two parties to exchange cash flows based on predetermined terms. Interest rate swaps allow the fund to manage interest rate exposure, while currency swaps can be employed to hedge against foreign exchange risk. These instruments provide the fund with flexibility in managing its portfolio and generating income. The fund also utilizes options on swaps and other derivative instruments to further enhance its investment strategies. Options give the fund the right, but not the obligation, to buy or sell an underlying asset at a specified price within a certain timeframe. By incorporating options on swaps and other derivatives, the fund can potentially generate additional income or protect against adverse market movements. It's important to note that while the Nuveen High Income 2023 Target Term Fund uses derivative instruments, it does so within the framework of its investment objectives and risk management strategies. The fund's investment team carefully selects and monitors these instruments to ensure they align with the fund's overall investment strategy and risk profile. In summary, the Nuveen High Income 2023 Target Term Fund is a closed-end fund that seeks to provide a high level of current income while returning its original net asset value per share. To achieve these objectives, the fund employs various derivative instruments, including financial futures contracts, options, swaps, and options on swaps. These instruments enable the fund to enhance returns, manage risk, and generate income in pursuit of its investment goals.
Data updated: June 2, 2026
