0001193125-13-246431.txt : 20130604 0001193125-13-246431.hdr.sgml : 20130604 20130604110406 ACCESSION NUMBER: 0001193125-13-246431 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130604 DATE AS OF CHANGE: 20130604 EFFECTIVENESS DATE: 20130604 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NUVEEN INVESTMENT TRUST II CENTRAL INDEX KEY: 0001041673 IRS NUMBER: 000000000 FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-33607 FILM NUMBER: 13890096 BUSINESS ADDRESS: STREET 1: C/O JOHN NUVEEN & CO INC STREET 2: 333 W WACKER DR 32ND FL CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 312-917-8146 MAIL ADDRESS: STREET 1: C/O JOHN NUVEEN & CO INC STREET 2: 333 W WACKER DR 32ND FL CITY: CHICAGO STATE: IL ZIP: 60606 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NUVEEN INVESTMENT TRUST II CENTRAL INDEX KEY: 0001041673 IRS NUMBER: 000000000 FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-08333 FILM NUMBER: 13890097 BUSINESS ADDRESS: STREET 1: C/O JOHN NUVEEN & CO INC STREET 2: 333 W WACKER DR 32ND FL CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 312-917-8146 MAIL ADDRESS: STREET 1: C/O JOHN NUVEEN & CO INC STREET 2: 333 W WACKER DR 32ND FL CITY: CHICAGO STATE: IL ZIP: 60606 0001041673 S000024570 Nuveen Equity Long/Short Fund C000072944 Class A NELAX C000072945 Class C NELCX C000072947 Class I NELIX 485BPOS 1 d506914d485bpos.htm NUVEEN INVESTMENT TRUST II Nuveen Investment Trust II

As filed with the Securities and Exchange Commission on June 4, 2013

1933 Act Registration No. 333-33607

1940 Act Registration No. 811-08333

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form N-1A

 

REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933
     ¨   
Pre-Effective Amendment No.      ¨   
Post-Effective Amendment No. 95      x   
and/or   
REGISTRATION STATEMENT UNDER THE
INVESTMENT COMPANY ACT OF 1940
     ¨   
Amendment No. 96      x   

 

 

Nuveen Investment Trust II

(Exact Name of Registrant as Specified in Declaration of Trust)

 

333 West Wacker Drive, Chicago, Illinois    60606
(Address of Principal Executive Offices)    (Zip Code)

Registrant’s Telephone Number, Including Area Code: (312) 917-7700

 

Kevin J. McCarthy

Vice President and Secretary

333 West Wacker Drive

Chicago, Illinois 60606

(Name and Address of Agent for Service)

  

Copies to:

Eric F. Fess

Chapman and Cutler LLP

111 West Monroe Street

Chicago, Illinois 60603

Approximate Date of Proposed Public Offering: As soon as practicable after effectiveness.

It is proposed that this filing will become effective (check appropriate box):

 

x   immediately upon filing pursuant to paragraph (b)   ¨   on (date) pursuant to paragraph (a)(1)
¨   on (date) pursuant to paragraph (b)   ¨   75 days after filing pursuant to paragraph (a)(2)
¨   60 days after filing pursuant to paragraph (a)(1)   ¨   on (date) pursuant to paragraph (a)(2) of Rule 485.

If appropriate, check the following box:

 

¨ This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 

 

 


This filing relates solely to the following Fund, a series of the Registrant:

 

Nuveen Equity Long/Short Fund   


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this registration statement under Rule 485(b) under the Securities Act of 1933, as amended, and has duly caused this post-effective amendment to its registration statement to be signed on its behalf by the undersigned, duly authorized, in the City of Chicago and State of Illinois, on the 4th day of June, 2013.

 

NUVEEN INVESTMENT TRUST II
By:   /S/    KEVIN J. MCCARTHY
 

Kevin J. McCarthy

Vice President and Secretary

Pursuant to the requirements of the Securities Act of 1933, as amended, this post-effective amendment to the registration statement has been signed below by the following persons in the capacities and on the date indicated.

 

Signature

  

Title

         

Date

/S/    STEPHEN D. FOY        

STEPHEN D. FOY

   Vice President and Controller (principal financial and accounting officer)       June 4, 2013

/S/    GIFFORD R. ZIMMERMAN

GIFFORD R. ZIMMERMAN

   Chief Administrative Officer (principal executive officer)       June 4, 2013
ROBERT P. BREMNER*    Chairman of the Board and Trustee   ü

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By:

 

 

 

 

 

 

 

 

 

/S/    KEVIN J. MCCARTHY

 

KEVIN J. MCCARTHY

Attorney-in-Fact

June 4, 2013

JOHN P. AMBOIAN*    Trustee      
JACK B. EVANS*    Trustee      
WILLIAM C. HUNTER*    Trustee      
DAVID J. KUNDERT*    Trustee      
WILLIAM J. SCHNEIDER*    Trustee      
JUDITH M. STOCKDALE*    Trustee      
CAROLE E. STONE*    Trustee      
VIRGINIA L. STRINGER*    Trustee      
TERENCE J. TOTH*   

Trustee

     

 

* An original power of attorney authorizing, among others, Kevin J. McCarthy and Gifford R. Zimmerman to execute this registration statement, and amendments thereto, for each of the trustees of the Registrant on whose behalf this registration statement is filed, has been executed and has previously been filed with the Securities and Exchange Commission and is incorporated by reference herein.


EXHIBIT INDEX

 

Exhibit

Number

    

Exhibit

  
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EX-101.INS 2 nit2-20130521.xml XBRL INSTANCE DOCUMENT 0001041673 nit2:S000024570Member nit2:C000072944Member 2012-05-22 2013-05-21 0001041673 nit2:S000024570Member nit2:C000072945Member 2012-05-22 2013-05-21 0001041673 nit2:S000024570Member nit2:C000072947Member 2012-05-22 2013-05-21 0001041673 nit2:S000024570Member 2012-05-22 2013-05-21 0001041673 2012-05-22 2013-05-21 0001041673 nit2:S000024570Member rr:AfterTaxesOnDistributionsMember nit2:C000072944Member 2012-05-22 2013-05-21 0001041673 nit2:S000024570Member rr:AfterTaxesOnDistributionsAndSalesMember nit2:C000072944Member 2012-05-22 2013-05-21 0001041673 nit2:S000024570Member nit2:RussellTenHundredIndexMember 2012-05-22 2013-05-21 0001041673 nit2:S000024570Member nit2:RussellTenHundredGrowthIndexMember 2012-05-22 2013-05-21 0001041673 nit2:S000024570Member nit2:LipperLongShortEquityClassificationAverageMember 2012-05-22 2013-05-21 pure iso4217:USD 0.0575 0 0 0 0 0 810 324 210 1297 989 649 2719 2607 2246 6166 6408 6086 <div style="display:none">~ http://www.nuveen.com/role/ScheduleShareholderFeesNuveenEquityLongShortFund column period compact * ~</div> <div style="display:none">~ http://www.nuveen.com/role/ScheduleAnnualFundOperatingExpensesNuveenEquityLongShortFund column period compact * ~</div> <div style="display:none">~ http://www.nuveen.com/role/ScheduleAverageAnnualTotalReturnsTransposedNuveenEquityLongShortFund column period compact * ~</div> 2013-05-21 485BPOS NUVEEN INVESTMENT TRUST II 0001041673 2013-05-21 2013-05-21 false 2013-01-31 Nuveen Equity Long/Short Fund Investment Objective The investment objective of the Fund is long-term capital appreciation with low correlation to the U.S. equity market. Fees and Expenses of the Fund This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund or in other Nuveen Mutual Funds. More information about these and other discounts, as well as eligibility requirements for each share class, is available from your financial advisor and in &#8220;What Share Classes We Offer&#8221; on page 14 of the Fund&#8217;s prospectus, &#8220;How to Reduce Your Sales Charge&#8221; on page 15 of the prospectus and &#8220;Purchase and Redemption of Fund Shares&#8221; on page S-47 of the Fund&#8217;s statement of additional information. <b>Shareholder Fees</b><br/>(fees paid directly from your investment) 0 0.01 0 0 0 0 15 15 15 0.0128 0.0128 0.0128 0.0025 0.01 0 0.007 0.007 0.0058 0.0013 0.0013 0.0013 0.0519 0.0519 0.0599 0.0602 0.0602 0.067 0.0755 0.083 0.0798 -0.0509 -0.0509 -0.0591 0.0246 0.0321 0.0207 <b>Example </b> <b>Annual Fund Operating Expenses</b><br/>(expenses that you pay each year as a percentage of the value of your investment) The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then either redeem or do not redeem your shares at the end of a period. The example also assumes that your investment has a 5% return each year, that the Fund&#8217;s operating expenses remain the same, and the contractual fee waivers currently in place are not renewed beyond July 31, 2016. Although your actual costs may be higher or lower, based on these assumptions your costs would be: <b>Redemption</b> <b>No Redemption</b> 810 324 210 1297 989 649 2719 2607 2246 6166 6408 6086 <b>Portfolio Turnover </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 67% of the average value of its portfolio. Principal Investment Strategies The Fund pursues its investment objective by establishing long and short positions in a diversified portfolio of equity securities. Under normal market conditions, the Fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes (including assets acquired through the Fund's short sales) in equity securities. Substantially all of the equity securities in which the Fund takes long and short positions will be included in the Fund's benchmark index, the Russell 1000 Index, at the time the position is taken. As a result, the Fund will invest significantly in large capitalization companies.<br/><br/>When the Fund takes a long position in a security, it purchases the security outright. When the Fund takes a short position, it sells a security that the Fund does not own at the current market price and delivers to the buyer a security that the Fund has borrowed. The Fund is obligated to return the security to the lender, which is accomplished by a later purchase of the security by the Fund. Until the borrowed security is replaced, the Fund is required to pay to the lender amounts equal to any dividends or interest that accrue during the period of the loan. In addition, to borrow the security, the Fund may be required to pay a premium to the lender. The Fund will sell a security short if it expects that it will be able to make this later purchase at a lower price than the price at which it sold the security short. The use of both long and short positions allows the sub-adviser to invest based on both its positive and negative views on individual stocks. The Fund may use all or a portion of the proceeds of its short sales to purchase additional long positions. The Fund intends to generally maintain a net long exposure to the equity market (long market value minus short market value) that is greater than the 0% exposure which a "market neutral" fund is designed to provide, but less than 100% exposure provided by a fund that invests only in long positions. This net long exposure is expected to be at least 40% under normal market conditions. The goal is to allow the Fund to benefit from a rising market, although to a lesser extent than a "long-only" fund, while still affording some protection from a falling market because of the Fund's short positions, which are designed to perform inversely to the market.<br/><br/>The Fund's sub-adviser will select securities using an investment process that combines quantitative techniques, fundamental analysis and risk management, with the sub-adviser taking long positions in companies that it has identified as attractive and short positions in companies that it expects to underperform. Securities generally are added to the portfolio as long or short positions based both on security rankings provided by multi-factor quantitative models and on fundamental analysis of the securities. However, the sub-adviser will utilize risk management techniques to establish constraints on the amounts invested in individual securities and sectors. As a result, the sub-adviser may take a long position in a security which receives a low ranking from the quantitative models, in order to maintain a required minimum position in that security. The Fund's sub-adviser will generally sell a security if its model ranking declines or fundamental research reveals a deterioration of the company's fundamentals. Principal Risks The value of your investment in this Fund will change daily. You could lose money by investing in the Fund. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The principal risks of investing in the Fund include:<br/><br/><b>Equity Security Risk</b>&#8212;Equity securities may decline significantly in price over short or extended periods of time, and such declines may occur because of declines in the equity market as a whole, or they may occur because of declines in only a particular company, industry, or sector of the market.<br/><br/><b>Large Cap Stock Risk</b>&#8212;To the extent the Fund invests in large capitalization stocks, the Fund may underperform funds that invest primarily in stocks of smaller capitalization companies during periods when the stocks of such companies are in favor.<br/><br/><b>Quantitative Technique Risk</b>&#8212;Proprietary and third party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance. Furthermore, there can be no assurance that the quantitative models used in managing the Fund will perform as anticipated or enable the Fund to achieve its objective.<br/><br/><b>Short Sales Risk</b>&#8212;The Fund will incur a loss as a result of a short sale if the price of the security sold short increases in value between the date of the short sale and the date on which the Fund purchases the security to replace the borrowed security. In addition, a lender may request, or market conditions may dictate, that securities sold short be returned to the lender on short notice, which may result in the Fund having to buy the securities sold short at an unfavorable price. If this occurs, any anticipated gain to the Fund may be reduced or eliminated or the short sale may result in a loss. The use of short sales may also cause the Fund to have higher expenses than other funds.<br/><br/>Short sales are speculative transactions and involve special risks, including greater reliance on the sub-adviser's ability to accurately anticipate the future value of a security. Because losses on short sales arise from increases in the value of the security sold short, such losses are theoretically unlimited. By contrast, a loss on a long position arises from decreases in the value of the security and is limited by the fact that a security's value cannot go below zero.<br/><br/>By investing the proceeds received from selling securities short, the Fund is engaging in a form of leverage. The use of leverage may increase the Fund's exposure to long positions and make any change in the Fund's net asset value greater than it would be without the use of leverage. This could result in increased volatility of returns.<br/><br/><b>Style Risk</b>&#8212;The Fund's strategy may cause the Fund to underperform compared to the general stock market or other equity mutual funds that do not utilize a similar strategy. For example, in a rising stock market, the Fund's short positions may significantly impact the Fund's overall performance and cause the Fund to underperform traditional long-only equity funds or to sustain losses, particularly in a sharply rising market. In addition, there is no guarantee that the sub-adviser will be able to construct a portfolio that limits the Fund's exposure to downward market movements. Fund Performance The following bar chart and table provide some indication of the potential risks of investing in the Fund. As of February 26, 2013, the Fund changed its investment objective and strategies to those set forth above and adopted its current name. Consequently, the Fund's performance information prior to such date reflects the Fund's performance before the change in its investment objective and strategies. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at www.nuveen.com/performance or by calling (800) 257-8787. The bar chart below shows the variability of the Fund&#8217;s performance from year to year for Class A shares. The performance of the other share classes will differ due to their different expense structures. The bar chart and highest/lowest quarterly returns that follow do not reflect sales charges, and if these charges were reflected, the returns would be less than those shown. During the four-year period ended December 31, 2012, the Fund&#8217;s highest and lowest quarterly returns were 16.68% and -17.82%, respectively, for the quarters ended June 30, 2009 and September 30, 2011. <b>Class A Annual Total Return</b> 0.2009 0.1112 -0.0476 0.1083 The table below shows the variability of the Fund&#8217;s average annual returns and how they compare over the time periods indicated with those of a broad measure of market performance and an index of funds with similar investment objectives. All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown for Class A shares only; after-tax returns for other share classes will vary. Your own actual after-tax returns will depend on your specific tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Fund shares in tax-deferred accounts such as IRAs or employer-sponsored retirement plans.<br/><br/>Both the bar chart and the table assume that all distributions have been reinvested. Performance reflects fee waivers, if any, in effect during the periods presented. If any such waivers were not in place, returns would be reduced. <b>Average Annual Total Returns<br/>for the Periods Ended<br/>December 31, 2012</b> 0.0446 0.0313 0.0463 0.0992 0.1111 0.1642 0.1526 0.0528 0.0794 0.0729 0.0676 0.0871 0.0982 0.1564 0.1769 0.074 2008-12-30 2008-12-30 2008-12-30 2008-12-30 2008-12-30 2008-12-30 2008-12-30 2008-12-30 July 31, 2016 0.67 The contingent deferred sales charge on Class C shares applies only to redemptions within 12 months of purchase. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund or in other Nuveen Mutual Funds. 50000 Expenses have been restated to reflect current contractual fees. The value of your investment in this Fund will change daily. You could lose money by investing in the Fund. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The bar chart below shows the variability of the Fund&#8217;s performance from year to year for Class A shares. (800) 257-8787 www.nuveen.com/performance The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The bar chart and highest/lowest quarterly returns that follow do not reflect sales charges, and if these charges were reflected, the returns would be less than those shown. year-to-date total return 2013-03-31 0.0916 highest 2009-06-30 0.1668 lowest 2011-09-30 -0.1782 All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are not relevant to investors who hold Fund shares in tax-deferred accounts such as IRAs or employer-sponsored retirement plans. After-tax returns are shown for Class A shares only; after-tax returns for other share classes will vary. <div style="display:none">~ http://www.nuveen.com/role/ScheduleAnnualTotalReturnsNuveenEquityLongShortFundBarChart column period compact * ~</div> <div style="display:none">~ http://www.nuveen.com/role/ScheduleExpenseExampleNuveenEquityLongShortFund column period compact * ~</div> <div style="display:none">~ http://www.nuveen.com/role/ScheduleExpenseExampleNoRedemptionNuveenEquityLongShortFund column period compact * ~</div> The contingent deferred sales charge on Class C shares applies only to redemptions within 12 months of purchase. Fee applies to the following types of accounts under $1,000 held directly with the Fund: individual retirement accounts (IRAs), Coverdell Education Savings Accounts and accounts established pursuant to the Uniform Transfers to Minors Act (UTMA) or Uniform Gifts to Minors Act (UGMA). Expenses have been restated to reflect current contractual fees. The Fund's investment adviser has agreed to waive fees and/or reimburse expenses through July 31, 2016 so that Total Annual Fund Operating Expenses (excluding 12b-1 distribution and/or service fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and disposing of portfolio securities, dividend expense on securities sold short, enhanced custody expense, underlying fund fees and expenses and extraordinary expenses) do not exceed 1.40% of the average daily net assets of any class of Fund shares. The expense limitation expiring July 31, 2016 may be terminated or modified prior to that date only with the approval of the Board of Trustees of the Fund. Class A year-to-date total return as of March 31, 2013 was 9.16%. As of February 26, 2013 the Fund changed its investment objective and strategies to those set forth above and adopted its current name. 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XML 10 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName NUVEEN INVESTMENT TRUST II
Prospectus Date rr_ProspectusDate May 21, 2013
Nuveen Equity Long/Short Fund
 
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Nuveen Equity Long/Short Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The investment objective of the Fund is long-term capital appreciation with low correlation to the U.S. equity market.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund or in other Nuveen Mutual Funds. More information about these and other discounts, as well as eligibility requirements for each share class, is available from your financial advisor and in “What Share Classes We Offer” on page 14 of the Fund’s prospectus, “How to Reduce Your Sales Charge” on page 15 of the prospectus and “Purchase and Redemption of Fund Shares” on page S-47 of the Fund’s statement of additional information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination July 31, 2016
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 67% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 67.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock The contingent deferred sales charge on Class C shares applies only to redemptions within 12 months of purchase.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund or in other Nuveen Mutual Funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount 50,000
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Expenses have been restated to reflect current contractual fees.
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then either redeem or do not redeem your shares at the end of a period. The example also assumes that your investment has a 5% return each year, that the Fund’s operating expenses remain the same, and the contractual fee waivers currently in place are not renewed beyond July 31, 2016. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Redemption
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption No Redemption
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund pursues its investment objective by establishing long and short positions in a diversified portfolio of equity securities. Under normal market conditions, the Fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes (including assets acquired through the Fund's short sales) in equity securities. Substantially all of the equity securities in which the Fund takes long and short positions will be included in the Fund's benchmark index, the Russell 1000 Index, at the time the position is taken. As a result, the Fund will invest significantly in large capitalization companies.

When the Fund takes a long position in a security, it purchases the security outright. When the Fund takes a short position, it sells a security that the Fund does not own at the current market price and delivers to the buyer a security that the Fund has borrowed. The Fund is obligated to return the security to the lender, which is accomplished by a later purchase of the security by the Fund. Until the borrowed security is replaced, the Fund is required to pay to the lender amounts equal to any dividends or interest that accrue during the period of the loan. In addition, to borrow the security, the Fund may be required to pay a premium to the lender. The Fund will sell a security short if it expects that it will be able to make this later purchase at a lower price than the price at which it sold the security short. The use of both long and short positions allows the sub-adviser to invest based on both its positive and negative views on individual stocks. The Fund may use all or a portion of the proceeds of its short sales to purchase additional long positions. The Fund intends to generally maintain a net long exposure to the equity market (long market value minus short market value) that is greater than the 0% exposure which a "market neutral" fund is designed to provide, but less than 100% exposure provided by a fund that invests only in long positions. This net long exposure is expected to be at least 40% under normal market conditions. The goal is to allow the Fund to benefit from a rising market, although to a lesser extent than a "long-only" fund, while still affording some protection from a falling market because of the Fund's short positions, which are designed to perform inversely to the market.

The Fund's sub-adviser will select securities using an investment process that combines quantitative techniques, fundamental analysis and risk management, with the sub-adviser taking long positions in companies that it has identified as attractive and short positions in companies that it expects to underperform. Securities generally are added to the portfolio as long or short positions based both on security rankings provided by multi-factor quantitative models and on fundamental analysis of the securities. However, the sub-adviser will utilize risk management techniques to establish constraints on the amounts invested in individual securities and sectors. As a result, the sub-adviser may take a long position in a security which receives a low ranking from the quantitative models, in order to maintain a required minimum position in that security. The Fund's sub-adviser will generally sell a security if its model ranking declines or fundamental research reveals a deterioration of the company's fundamentals.
Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The value of your investment in this Fund will change daily. You could lose money by investing in the Fund. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The principal risks of investing in the Fund include:

Equity Security Risk—Equity securities may decline significantly in price over short or extended periods of time, and such declines may occur because of declines in the equity market as a whole, or they may occur because of declines in only a particular company, industry, or sector of the market.

Large Cap Stock Risk—To the extent the Fund invests in large capitalization stocks, the Fund may underperform funds that invest primarily in stocks of smaller capitalization companies during periods when the stocks of such companies are in favor.

Quantitative Technique Risk—Proprietary and third party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance. Furthermore, there can be no assurance that the quantitative models used in managing the Fund will perform as anticipated or enable the Fund to achieve its objective.

Short Sales Risk—The Fund will incur a loss as a result of a short sale if the price of the security sold short increases in value between the date of the short sale and the date on which the Fund purchases the security to replace the borrowed security. In addition, a lender may request, or market conditions may dictate, that securities sold short be returned to the lender on short notice, which may result in the Fund having to buy the securities sold short at an unfavorable price. If this occurs, any anticipated gain to the Fund may be reduced or eliminated or the short sale may result in a loss. The use of short sales may also cause the Fund to have higher expenses than other funds.

Short sales are speculative transactions and involve special risks, including greater reliance on the sub-adviser's ability to accurately anticipate the future value of a security. Because losses on short sales arise from increases in the value of the security sold short, such losses are theoretically unlimited. By contrast, a loss on a long position arises from decreases in the value of the security and is limited by the fact that a security's value cannot go below zero.

By investing the proceeds received from selling securities short, the Fund is engaging in a form of leverage. The use of leverage may increase the Fund's exposure to long positions and make any change in the Fund's net asset value greater than it would be without the use of leverage. This could result in increased volatility of returns.

Style Risk—The Fund's strategy may cause the Fund to underperform compared to the general stock market or other equity mutual funds that do not utilize a similar strategy. For example, in a rising stock market, the Fund's short positions may significantly impact the Fund's overall performance and cause the Fund to underperform traditional long-only equity funds or to sustain losses, particularly in a sharply rising market. In addition, there is no guarantee that the sub-adviser will be able to construct a portfolio that limits the Fund's exposure to downward market movements.
Risk Lose Money [Text] rr_RiskLoseMoney The value of your investment in this Fund will change daily. You could lose money by investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Fund Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and table provide some indication of the potential risks of investing in the Fund. As of February 26, 2013, the Fund changed its investment objective and strategies to those set forth above and adopted its current name. Consequently, the Fund's performance information prior to such date reflects the Fund's performance before the change in its investment objective and strategies. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at www.nuveen.com/performance or by calling (800) 257-8787.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart below shows the variability of the Fund’s performance from year to year for Class A shares.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone (800) 257-8787
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.nuveen.com/performance
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading Class A Annual Total Return
Bar Chart Narrative [Text Block] rr_BarChartNarrativeTextBlock The bar chart below shows the variability of the Fund’s performance from year to year for Class A shares. The performance of the other share classes will differ due to their different expense structures. The bar chart and highest/lowest quarterly returns that follow do not reflect sales charges, and if these charges were reflected, the returns would be less than those shown.
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads The bar chart and highest/lowest quarterly returns that follow do not reflect sales charges, and if these charges were reflected, the returns would be less than those shown.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock During the four-year period ended December 31, 2012, the Fund’s highest and lowest quarterly returns were 16.68% and -17.82%, respectively, for the quarters ended June 30, 2009 and September 30, 2011.
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns
for the Periods Ended
December 31, 2012
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred After-tax returns are not relevant to investors who hold Fund shares in tax-deferred accounts such as IRAs or employer-sponsored retirement plans.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown for Class A shares only; after-tax returns for other share classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The table below shows the variability of the Fund’s average annual returns and how they compare over the time periods indicated with those of a broad measure of market performance and an index of funds with similar investment objectives. All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown for Class A shares only; after-tax returns for other share classes will vary. Your own actual after-tax returns will depend on your specific tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Fund shares in tax-deferred accounts such as IRAs or employer-sponsored retirement plans.

Both the bar chart and the table assume that all distributions have been reinvested. Performance reflects fee waivers, if any, in effect during the periods presented. If any such waivers were not in place, returns would be reduced.
Nuveen Equity Long/Short Fund | Class A
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.75%
Maximum Deferred Sales Charge (Load) (as a percentage of the lesser of purchase price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Maximum Sales Charge (Load) Imposed on Reinvested Dividends rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Exchange Fee rr_ExchangeFeeOverRedemption none
Annual Low Balance Account Fee (for accounts under $1,000) rr_MaximumAccountFee 15 [2]
Management Fees rr_ManagementFeesOverAssets 1.28% [3]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Dividend Expense on Securities Sold Short rr_Component1OtherExpensesOverAssets 0.70%
Enhanced Custody Expense rr_Component2OtherExpensesOverAssets 0.13%
Remainder of Other Expenses rr_Component3OtherExpensesOverAssets 5.19% [3]
Total Other Expenses rr_OtherExpensesOverAssets 6.02%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 7.55%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (5.09%) [4]
Total Annual Fund Operation Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 2.46%
1 Year rr_ExpenseExampleYear01 810
3 Years rr_ExpenseExampleYear03 1,297
5 Years rr_ExpenseExampleYear05 2,719
10 Years rr_ExpenseExampleYear10 6,166
1 Year rr_ExpenseExampleNoRedemptionYear01 810
3 Years rr_ExpenseExampleNoRedemptionYear03 1,297
5 Years rr_ExpenseExampleNoRedemptionYear05 2,719
10 Years rr_ExpenseExampleNoRedemptionYear10 6,166
2009 rr_AnnualReturn2009 20.09% [5]
2010 rr_AnnualReturn2010 11.12% [5]
2011 rr_AnnualReturn2011 (4.76%) [5]
2012 rr_AnnualReturn2012 10.83% [5]
Year to Date Return, Label rr_YearToDateReturnLabel year-to-date total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Mar. 31, 2013
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 9.16%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 16.68%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (17.82%)
1 Year rr_AverageAnnualReturnYear01 4.46%
Since Inception rr_AverageAnnualReturnSinceInception 7.94%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2008
Nuveen Equity Long/Short Fund | Class C
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lesser of purchase price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Maximum Sales Charge (Load) Imposed on Reinvested Dividends rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Exchange Fee rr_ExchangeFeeOverRedemption none
Annual Low Balance Account Fee (for accounts under $1,000) rr_MaximumAccountFee 15 [2]
Management Fees rr_ManagementFeesOverAssets 1.28% [3]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Dividend Expense on Securities Sold Short rr_Component1OtherExpensesOverAssets 0.70%
Enhanced Custody Expense rr_Component2OtherExpensesOverAssets 0.13%
Remainder of Other Expenses rr_Component3OtherExpensesOverAssets 5.19% [3]
Total Other Expenses rr_OtherExpensesOverAssets 6.02%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 8.30%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (5.09%) [4]
Total Annual Fund Operation Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 3.21%
1 Year rr_ExpenseExampleYear01 324
3 Years rr_ExpenseExampleYear03 989
5 Years rr_ExpenseExampleYear05 2,607
10 Years rr_ExpenseExampleYear10 6,408
1 Year rr_ExpenseExampleNoRedemptionYear01 324
3 Years rr_ExpenseExampleNoRedemptionYear03 989
5 Years rr_ExpenseExampleNoRedemptionYear05 2,607
10 Years rr_ExpenseExampleNoRedemptionYear10 6,408
1 Year rr_AverageAnnualReturnYear01 9.92%
Since Inception rr_AverageAnnualReturnSinceInception 8.71%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2008
Nuveen Equity Long/Short Fund | Class I
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as a percentage of the lesser of purchase price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none [1]
Maximum Sales Charge (Load) Imposed on Reinvested Dividends rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Exchange Fee rr_ExchangeFeeOverRedemption none
Annual Low Balance Account Fee (for accounts under $1,000) rr_MaximumAccountFee 15 [2]
Management Fees rr_ManagementFeesOverAssets 1.28% [3]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Dividend Expense on Securities Sold Short rr_Component1OtherExpensesOverAssets 0.58%
Enhanced Custody Expense rr_Component2OtherExpensesOverAssets 0.13%
Remainder of Other Expenses rr_Component3OtherExpensesOverAssets 5.99% [3]
Total Other Expenses rr_OtherExpensesOverAssets 6.70%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 7.98%
Fee Waivers and/or Expense Reimbursements rr_FeeWaiverOrReimbursementOverAssets (5.91%) [4]
Total Annual Fund Operation Expenses After Fee Waivers and/or Expense Reimbursements rr_NetExpensesOverAssets 2.07%
1 Year rr_ExpenseExampleYear01 210
3 Years rr_ExpenseExampleYear03 649
5 Years rr_ExpenseExampleYear05 2,246
10 Years rr_ExpenseExampleYear10 6,086
1 Year rr_ExpenseExampleNoRedemptionYear01 210
3 Years rr_ExpenseExampleNoRedemptionYear03 649
5 Years rr_ExpenseExampleNoRedemptionYear05 2,246
10 Years rr_ExpenseExampleNoRedemptionYear10 6,086
1 Year rr_AverageAnnualReturnYear01 11.11%
Since Inception rr_AverageAnnualReturnSinceInception 9.82%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2008
Nuveen Equity Long/Short Fund | (return after taxes on distributions) | Class A
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 3.13%
Since Inception rr_AverageAnnualReturnSinceInception 7.29%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2008
Nuveen Equity Long/Short Fund | (return after taxes on distributions and sale of Fund shares) | Class A
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 4.63%
Since Inception rr_AverageAnnualReturnSinceInception 6.76%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2008
Nuveen Equity Long/Short Fund | Russell 1000 Index (reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 16.42% [6]
Since Inception rr_AverageAnnualReturnSinceInception 15.64% [6]
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2008 [6]
Nuveen Equity Long/Short Fund | Russell 1000 Growth Index (reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 15.26%
Since Inception rr_AverageAnnualReturnSinceInception 17.69%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2008
Nuveen Equity Long/Short Fund | Lipper Long/Short Equity Classification Average (reflects no deduction for taxes or certain expenses)
 
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 5.28%
Since Inception rr_AverageAnnualReturnSinceInception 7.40%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 30, 2008
[1] The contingent deferred sales charge on Class C shares applies only to redemptions within 12 months of purchase.
[2] Fee applies to the following types of accounts under $1,000 held directly with the Fund: individual retirement accounts (IRAs), Coverdell Education Savings Accounts and accounts established pursuant to the Uniform Transfers to Minors Act (UTMA) or Uniform Gifts to Minors Act (UGMA).
[3] Expenses have been restated to reflect current contractual fees.
[4] The Fund's investment adviser has agreed to waive fees and/or reimburse expenses through July 31, 2016 so that Total Annual Fund Operating Expenses (excluding 12b-1 distribution and/or service fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and disposing of portfolio securities, dividend expense on securities sold short, enhanced custody expense, underlying fund fees and expenses and extraordinary expenses) do not exceed 1.40% of the average daily net assets of any class of Fund shares. The expense limitation expiring July 31, 2016 may be terminated or modified prior to that date only with the approval of the Board of Trustees of the Fund.
[5] Class A year-to-date total return as of March 31, 2013 was 9.16%.
[6] As of February 26, 2013 the Fund changed its investment objective and strategies to those set forth above and adopted its current name. Accordingly, the broad measure of market performance has also been changed from the Russell 1000 Growth Index to the Russell 1000 Index to more accurately reflect the Fund's current investment objective and strategies.
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Nuveen Equity Long/Short Fund
Nuveen Equity Long/Short Fund
Investment Objective
The investment objective of the Fund is long-term capital appreciation with low correlation to the U.S. equity market.
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund or in other Nuveen Mutual Funds. More information about these and other discounts, as well as eligibility requirements for each share class, is available from your financial advisor and in “What Share Classes We Offer” on page 14 of the Fund’s prospectus, “How to Reduce Your Sales Charge” on page 15 of the prospectus and “Purchase and Redemption of Fund Shares” on page S-47 of the Fund’s statement of additional information.
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees Nuveen Equity Long/Short Fund (USD $)
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) 5.75% none none
Maximum Deferred Sales Charge (Load) (as a percentage of the lesser of purchase price or redemption proceeds) [1] none 1.00% none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends none none none
Exchange Fee none none none
Annual Low Balance Account Fee (for accounts under $1,000) [2] 15 15 15
[1] The contingent deferred sales charge on Class C shares applies only to redemptions within 12 months of purchase.
[2] Fee applies to the following types of accounts under $1,000 held directly with the Fund: individual retirement accounts (IRAs), Coverdell Education Savings Accounts and accounts established pursuant to the Uniform Transfers to Minors Act (UTMA) or Uniform Gifts to Minors Act (UGMA).
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses Nuveen Equity Long/Short Fund
Class A
Class C
Class I
Management Fees [1] 1.28% 1.28% 1.28%
Distribution and/or Service (12b-1) Fees 0.25% 1.00% none
Dividend Expense on Securities Sold Short 0.70% 0.70% 0.58%
Enhanced Custody Expense 0.13% 0.13% 0.13%
Remainder of Other Expenses [1] 5.19% 5.19% 5.99%
Total Other Expenses 6.02% 6.02% 6.70%
Total Annual Fund Operating Expenses 7.55% 8.30% 7.98%
Fee Waivers and/or Expense Reimbursements [2] (5.09%) (5.09%) (5.91%)
Total Annual Fund Operation Expenses After Fee Waivers and/or Expense Reimbursements 2.46% 3.21% 2.07%
[1] Expenses have been restated to reflect current contractual fees.
[2] The Fund's investment adviser has agreed to waive fees and/or reimburse expenses through July 31, 2016 so that Total Annual Fund Operating Expenses (excluding 12b-1 distribution and/or service fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and disposing of portfolio securities, dividend expense on securities sold short, enhanced custody expense, underlying fund fees and expenses and extraordinary expenses) do not exceed 1.40% of the average daily net assets of any class of Fund shares. The expense limitation expiring July 31, 2016 may be terminated or modified prior to that date only with the approval of the Board of Trustees of the Fund.
Example
The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then either redeem or do not redeem your shares at the end of a period. The example also assumes that your investment has a 5% return each year, that the Fund’s operating expenses remain the same, and the contractual fee waivers currently in place are not renewed beyond July 31, 2016. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Redemption
Expense Example Nuveen Equity Long/Short Fund (USD $)
A
C
I
1 Year 810 324 210
3 Years 1,297 989 649
5 Years 2,719 2,607 2,246
10 Years 6,166 6,408 6,086
No Redemption
Expense Example, No Redemption Nuveen Equity Long/Short Fund (USD $)
A
C
I
1 Year 810 324 210
3 Years 1,297 989 649
5 Years 2,719 2,607 2,246
10 Years 6,166 6,408 6,086
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 67% of the average value of its portfolio.
Principal Investment Strategies
The Fund pursues its investment objective by establishing long and short positions in a diversified portfolio of equity securities. Under normal market conditions, the Fund invests at least 80% of the sum of its net assets and the amount of any borrowings for investment purposes (including assets acquired through the Fund's short sales) in equity securities. Substantially all of the equity securities in which the Fund takes long and short positions will be included in the Fund's benchmark index, the Russell 1000 Index, at the time the position is taken. As a result, the Fund will invest significantly in large capitalization companies.

When the Fund takes a long position in a security, it purchases the security outright. When the Fund takes a short position, it sells a security that the Fund does not own at the current market price and delivers to the buyer a security that the Fund has borrowed. The Fund is obligated to return the security to the lender, which is accomplished by a later purchase of the security by the Fund. Until the borrowed security is replaced, the Fund is required to pay to the lender amounts equal to any dividends or interest that accrue during the period of the loan. In addition, to borrow the security, the Fund may be required to pay a premium to the lender. The Fund will sell a security short if it expects that it will be able to make this later purchase at a lower price than the price at which it sold the security short. The use of both long and short positions allows the sub-adviser to invest based on both its positive and negative views on individual stocks. The Fund may use all or a portion of the proceeds of its short sales to purchase additional long positions. The Fund intends to generally maintain a net long exposure to the equity market (long market value minus short market value) that is greater than the 0% exposure which a "market neutral" fund is designed to provide, but less than 100% exposure provided by a fund that invests only in long positions. This net long exposure is expected to be at least 40% under normal market conditions. The goal is to allow the Fund to benefit from a rising market, although to a lesser extent than a "long-only" fund, while still affording some protection from a falling market because of the Fund's short positions, which are designed to perform inversely to the market.

The Fund's sub-adviser will select securities using an investment process that combines quantitative techniques, fundamental analysis and risk management, with the sub-adviser taking long positions in companies that it has identified as attractive and short positions in companies that it expects to underperform. Securities generally are added to the portfolio as long or short positions based both on security rankings provided by multi-factor quantitative models and on fundamental analysis of the securities. However, the sub-adviser will utilize risk management techniques to establish constraints on the amounts invested in individual securities and sectors. As a result, the sub-adviser may take a long position in a security which receives a low ranking from the quantitative models, in order to maintain a required minimum position in that security. The Fund's sub-adviser will generally sell a security if its model ranking declines or fundamental research reveals a deterioration of the company's fundamentals.
Principal Risks
The value of your investment in this Fund will change daily. You could lose money by investing in the Fund. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The principal risks of investing in the Fund include:

Equity Security Risk—Equity securities may decline significantly in price over short or extended periods of time, and such declines may occur because of declines in the equity market as a whole, or they may occur because of declines in only a particular company, industry, or sector of the market.

Large Cap Stock Risk—To the extent the Fund invests in large capitalization stocks, the Fund may underperform funds that invest primarily in stocks of smaller capitalization companies during periods when the stocks of such companies are in favor.

Quantitative Technique Risk—Proprietary and third party data and systems are utilized to support decision making for the Fund. Data imprecision, software or other technology malfunctions, programming inaccuracies and similar circumstances may impair the performance of these systems, which may negatively affect Fund performance. Furthermore, there can be no assurance that the quantitative models used in managing the Fund will perform as anticipated or enable the Fund to achieve its objective.

Short Sales Risk—The Fund will incur a loss as a result of a short sale if the price of the security sold short increases in value between the date of the short sale and the date on which the Fund purchases the security to replace the borrowed security. In addition, a lender may request, or market conditions may dictate, that securities sold short be returned to the lender on short notice, which may result in the Fund having to buy the securities sold short at an unfavorable price. If this occurs, any anticipated gain to the Fund may be reduced or eliminated or the short sale may result in a loss. The use of short sales may also cause the Fund to have higher expenses than other funds.

Short sales are speculative transactions and involve special risks, including greater reliance on the sub-adviser's ability to accurately anticipate the future value of a security. Because losses on short sales arise from increases in the value of the security sold short, such losses are theoretically unlimited. By contrast, a loss on a long position arises from decreases in the value of the security and is limited by the fact that a security's value cannot go below zero.

By investing the proceeds received from selling securities short, the Fund is engaging in a form of leverage. The use of leverage may increase the Fund's exposure to long positions and make any change in the Fund's net asset value greater than it would be without the use of leverage. This could result in increased volatility of returns.

Style Risk—The Fund's strategy may cause the Fund to underperform compared to the general stock market or other equity mutual funds that do not utilize a similar strategy. For example, in a rising stock market, the Fund's short positions may significantly impact the Fund's overall performance and cause the Fund to underperform traditional long-only equity funds or to sustain losses, particularly in a sharply rising market. In addition, there is no guarantee that the sub-adviser will be able to construct a portfolio that limits the Fund's exposure to downward market movements.
Fund Performance
The following bar chart and table provide some indication of the potential risks of investing in the Fund. As of February 26, 2013, the Fund changed its investment objective and strategies to those set forth above and adopted its current name. Consequently, the Fund's performance information prior to such date reflects the Fund's performance before the change in its investment objective and strategies. The Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at www.nuveen.com/performance or by calling (800) 257-8787.
The bar chart below shows the variability of the Fund’s performance from year to year for Class A shares. The performance of the other share classes will differ due to their different expense structures. The bar chart and highest/lowest quarterly returns that follow do not reflect sales charges, and if these charges were reflected, the returns would be less than those shown.
Class A Annual Total Return
Bar Chart
[1] Class A year-to-date total return as of March 31, 2013 was 9.16%.
During the four-year period ended December 31, 2012, the Fund’s highest and lowest quarterly returns were 16.68% and -17.82%, respectively, for the quarters ended June 30, 2009 and September 30, 2011.
The table below shows the variability of the Fund’s average annual returns and how they compare over the time periods indicated with those of a broad measure of market performance and an index of funds with similar investment objectives. All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown for Class A shares only; after-tax returns for other share classes will vary. Your own actual after-tax returns will depend on your specific tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Fund shares in tax-deferred accounts such as IRAs or employer-sponsored retirement plans.

Both the bar chart and the table assume that all distributions have been reinvested. Performance reflects fee waivers, if any, in effect during the periods presented. If any such waivers were not in place, returns would be reduced.
Average Annual Total Returns
for the Periods Ended
December 31, 2012
Average Annual Total Returns Nuveen Equity Long/Short Fund
1 Year
Since Inception
Inception Date
Class A
4.46% 7.94% Dec. 30, 2008
Class A (return after taxes on distributions)
3.13% 7.29% Dec. 30, 2008
Class A (return after taxes on distributions and sale of Fund shares)
4.63% 6.76% Dec. 30, 2008
Class C
9.92% 8.71% Dec. 30, 2008
Class I
11.11% 9.82% Dec. 30, 2008
Russell 1000 Index (reflects no deduction for fees, expenses or taxes)
[1] 16.42% 15.64% Dec. 30, 2008
Russell 1000 Growth Index (reflects no deduction for fees, expenses or taxes)
15.26% 17.69% Dec. 30, 2008
Lipper Long/Short Equity Classification Average (reflects no deduction for taxes or certain expenses)
5.28% 7.40% Dec. 30, 2008
[1] As of February 26, 2013 the Fund changed its investment objective and strategies to those set forth above and adopted its current name. Accordingly, the broad measure of market performance has also been changed from the Russell 1000 Growth Index to the Russell 1000 Index to more accurately reflect the Fund's current investment objective and strategies.
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Document and Entity Information
12 Months Ended
May 21, 2013
Risk/Return:  
Document Type 485BPOS
Document Period End Date Jan. 31, 2013
Registrant Name NUVEEN INVESTMENT TRUST II
Central Index Key 0001041673
Amendment Flag false
Document Creation Date May 21, 2013
Document Effective Date May 21, 2013
Prospectus Date May 21, 2013