0001390204 2011-12-01 2012-11-30 0001390204 nmapt1:S000017347Member 2011-12-01 2012-11-30 0001390204 nmapt1:S000020777Member 2011-12-01 2012-11-30 0001390204 nmapt1:S000017347Member nmapt1:C000048022Member 2011-12-01 2012-11-30 0001390204 nmapt1:S000020777Member nmapt1:C000058018Member 2011-12-01 2012-11-30 0001390204 nmapt1:S000017347Member rr:AfterTaxesOnDistributionsMember nmapt1:C000048022Member 2011-12-01 2012-11-30 0001390204 nmapt1:S000017347Member rr:AfterTaxesOnDistributionsAndSalesMember nmapt1:C000048022Member 2011-12-01 2012-11-30 0001390204 nmapt1:S000017347Member nmapt1:BarclaysSevenYearMuncipalBondIndexMember 2011-12-01 2012-11-30 0001390204 nmapt1:S000020777Member rr:AfterTaxesOnDistributionsMember nmapt1:C000058018Member 2011-12-01 2012-11-30 0001390204 nmapt1:S000020777Member rr:AfterTaxesOnDistributionsAndSalesMember nmapt1:C000058018Member 2011-12-01 2012-11-30 0001390204 nmapt1:S000020777Member nmapt1:BarclaysCreditMortgageIndexMember 2011-12-01 2012-11-30 pure iso4217:USD 2012-11-30 2012-07-31 Municipal Total Return Managed Accounts Portfolio Investment Objectives The primary investment objective of the Portfolio is to seek attractive total return. The Portfolio also seeks to provide high current income exempt from regular federal income taxes. Fees and Expenses of the Portfolio This table describes the fees and expenses that you may pay if you buy and hold shares of the Portfolio. Shareholder Fees (fees paid directly from your investment) Enhanced Multi-Strategy Income Managed Accounts Portfolio 0 Investment Objectives 0 0 0 The primary investment objective of the Portfolio is total return, with current income as a secondary objective. Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Fees and Expenses of the Portfolio 0 0.0012 This table describes the fees and expenses that you may pay if you buy and hold shares of the Portfolio. 0.0012 -0.0012 0 The following example is intended to help you compare the cost of investing in the Portfolio with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Portfolio 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 and that the Portfolio’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 0 0 0 0 0 0 0 0 Portfolio Turnover 0 The Portfolio 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 shares are held in a taxable account. These costs, which are not reflected in annual portfolio operating expenses or in the example, affect the Portfolio’s performance. During the most recent fiscal year, the Portfolio’s portfolio turnover rate was 29% of the average value of its portfolio. 0 0.29 Principal Investment Strategies 0 0 The Portfolio’s portfolio managers use a value-oriented strategy and looks for higher-yielding and undervalued municipal bonds that offer the potential for above-average total return. The Portfolio invests in various types of municipal securities, including investment grade (rated BBB/Baa or better), below investment grade (rated BB/Ba or lower), and unrated municipal securities. The Portfolio may invest up to 50% of its net assets in below investment grade municipal bonds, but will normally invest 10-30% of its net assets in such bonds. Such securities are commonly referred to as “high yield” securities or junk bonds. The Portfolio may invest up to 5% of its net assets in defaulted bonds. The Portfolio may invest without limit in securities that generate income subject to the alternative minimum tax. The Portfolio will focus on securities with intermediate to longer term maturities and, as such, will generally maintain, under normal market conditions, an investment portfolio with an overall weighted average maturity of approximately 12 to 25 years. The Portfolio may invest in all types of municipal bonds, including general obligation bonds, revenue bonds and participation interests in municipal leases. The Portfolio may invest in zero coupon bonds, which are issued at substantial discounts from their value at maturity and pay no cash income to their holders until they mature. The Portfolio may invest up to 50% of its net assets in municipal securities whose interest payments vary inversely with changes in short-term tax-exempt interest rates (“inverse floaters”). The credit quality of the bonds underlying all leveraged municipal securities will be rated AA/Aa or higher, or, if unrated, judged to be of comparable quality by the Portfolio’s portfolio managers. Inverse floaters are derivative securities that provide leveraged exposure to underlying municipal bonds. The Portfolio’s investments in inverse floaters are designed to increase the Portfolio’s income and returns through this leveraged exposure. These investments are speculative, however, and also create the possibility that income and returns will be diminished. The Portfolio may also make forward commitments in which the Portfolio agrees to buy a security for settlement in the future at a price agreed upon today. Developed exclusively for use within Nuveen-sponsored separately managed accounts, the Portfolio is a specialized municipal bond portfolio to be used in combination with selected individual securities to effectively model institutional-level investment strategies. The Portfolio enables certain Nuveen municipal separately managed account investors to achieve greater diversification and return potential than smaller managed accounts might otherwise achieve by using lower quality, higher yielding securities and to gain access to special investment opportunities normally available only to institutional investors. This prospectus should be read in conjunction with the Form ADV of the separately managed account in which you are investing. Principal Risks The price and yield of this Portfolio will change daily, which means you could lose money. An investment in the Portfolio 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 Portfolio include: Alternative Minimum Tax Risk—The Portfolio has no limit as to the amount that can be invested in alternative minimum tax bonds. Therefore, all or a portion of the Portfolio’s otherwise exempt-interest dividends may be taxable to those shareholders subject to the federal alternative minimum tax. Call Risk—If an issuer calls higher-yielding debt instruments held by the Portfolio, performance could be adversely impacted. Credit Risk—Credit risk is the risk that an issuer of a debt security may be unable or unwilling to make interest and principal payments when due and the related risk that the value of a debt security may decline because of concerns about the issuer’s ability or willingness to make such payments. In addition, parties to other financial contracts with the Portfolio could default on their obligations. Also, the Portfolio’s investments in inverse floaters will increase the Portfolio’s credit risk. High Yield Securities Risk—High yield securities are high risk investments that may cause income and principal losses for the Portfolio. They generally have greater credit risk, are less liquid, and have more volatile prices than investment grade securities. Income Risk—The Portfolio’s income could decline during periods of falling interest rates. Also, if the Portfolio invests in inverse floaters, the Portfolio’s income may decrease if short-term interest rates rise. Interest Rate Risk—Interest rate risk is the risk that the value of the Portfolio’s portfolio will decline because of rising interest rates. When interest rates change, the values of longer-duration debt securities usually change more than the values of shorter-duration debt securities. Interest rate risk may be increased by the Portfolio’s investment in inverse floaters because of the leveraged nature of these investments. Inverse Floaters Risk—The use of inverse floaters by the Portfolio creates effective leverage. Due to the leveraged nature of these investments, they will typically be more volatile and involve greater risk than the fixed rate municipal bonds underlying the inverse floaters. An investment in certain inverse floaters will involve the risk that the Portfolio could lose more than its original principal investment. Distributions on inverse floaters bear an inverse relationship to short-term municipal bond interest rates. Thus, distributions paid to the Portfolio on its inverse floaters will be reduced or even eliminated as short-term municipal interest rates rise and will increase when short-term municipal interest rates fall. Inverse floaters generally will underperform the market for fixed rate municipal bonds in a rising interest rate environment. Liquidity Risk—The secondary market for municipal bonds, and particularly for high-yield municipal bonds, tends to be less well developed and less liquid than many other securities markets. As a result, the Portfolio may have to accept a lower price to sell a security, sell other securities to raise cash, or give up an investment opportunity, any of which could have a negative effect on performance. If the Portfolio needed to sell large blocks of bonds to meet shareholder redemption requests or to raise cash, those sales could further reduce the bonds’ prices. The Portfolio may invest a significant portion of its assets in unrated bonds. The market for these bonds may be less liquid than the market for rated bonds of comparable quality. Market Risk—The market values of the Portfolio’s investments may decline, at times sharply and unpredictably. Municipal Lease Obligations Risk—Participation interests in municipal leases pose special risks because many leases and contracts contain “non-appropriation” clauses that provide that the governmental issuer has no obligation to make future payments under the lease or contract unless money is appropriated for this purpose by the appropriate legislative body. Non-Diversification Risk—As a non-diversified portfolio, the Portfolio may invest a larger portion of its assets in the securities of a limited number of issuers and may be more sensitive to any single economic, political or regulatory occurrence than a diversified portfolio. Political and Economic Risks—The values of municipal securities held by the Portfolio may be adversely affected by local political and economic conditions and developments. Adverse conditions in an industry significant to a local economy could have a correspondingly adverse effect on the financial condition of local issuers. Tax Risk—Income from municipal bonds held by the Portfolio could be declared taxable because of, among other things, unfavorable changes in tax laws, adverse interpretations by the Internal Revenue Service or state tax authorities, or noncompliant conduct of a bond issuer. Zero Coupon Bonds Risk—Zero coupon bonds do not pay interest on a current basis and may be highly volatile as interest rates rise or fall. In addition, while such bonds generate income for purposes of generally accepted accounting standards, they do not generate cash flow and thus could cause the Portfolio to be forced to liquidate securities at an inopportune time in order to distribute cash, as required by tax laws. Portfolio Performance The following bar chart and table provide some indication of the potential risks of investing in the Portfolio. The Portfolio’s past performance (before and after taxes) is not necessarily an indication of how the Portfolio will perform in the future. The bar chart below shows the variability of the Portfolio’s performance from year to year. Annual Total Return -0.049 0.173 0.0339 0.1343 Shareholder Fees (fees paid directly from your investment) Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0 0.0263 0.0263 -0.0263 During the four-year period ended December 31, 2011, the Portfolio’s highest and lowest quarterly returns were 8.02% and -5.23%, respectively, for the quarters ended September 30, 2009 and December 31, 2010. 0 The table below shows the variability of the Portfolio’s average annual returns and how they compare over the time periods indicated with those of a broad measure of market performance. 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. 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 Portfolio shares in tax-deferred accounts such as individual retirement accounts (IRAs) or employer-sponsored retirement plans. Performance reflects fee waivers, if any, in effect during the periods presented. If any such waivers were not in place, returns would be reduced. 0.1343 0.1336 0.1076 0.1014 0.0649 0.0643 0.0623 0.0684 Example The following example is intended to help you compare the cost of investing in the Portfolio with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Portfolio 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 and that the Portfolio’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: Redemption No Redemption 0 0 0 0 0 0 0 0 Year-to-date total return Portfolio Turnover 2012-09-30 0.0913 highest 2009-09-30 0.0802 lowest 2010-12-31 -0.0523 0.55 The Portfolio 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 shares are held in a taxable account. These costs, which are not reflected in annual portfolio operating expenses or in the example, affect the Portfolio’s performance. During the most recent fiscal year, the Portfolio’s portfolio turnover rate was 55% of the average value of its portfolio. Principal Investment Strategies Under normal conditions, the Portfolio invests at least 80% of its net assets in fixed income securities. The Portfolio will invest in various types of debt securities, including U.S. Treasury and U.S. agency bonds, U.S. investment grade corporate debt securities, U.S. high yield corporate debt securities, U.S. dollar-denominated non-U.S. government bonds, non-U.S. dollar non-U.S. government bonds, emerging market debt, and other short-term securities. In addition, the Portfolio may invest a substantial portion of its assets in mortgage-backed securities, including U.S. agency mortgage backed securities and commercial mortgage backed securities, and asset-backed securities. The Portfolio may also engage in repurchase, reverse repurchase, dollar rolls and forward purchase agreements (these investments will generally be short-term in nature and are primarily used to seek to enhance total return and manage liquidity). The Portfolio may invest up to 50% of its net assets in securities that are rated below investment grade or securities that are unrated but deemed by the portfolio managers to be of equivalent quality. Such securities are commonly referred to as “high-yield” securities or “junk bonds”, which includes U.S. and non-U.S. high yield corporate bonds and securities. The Portfolio may invest up to 25% of its net assets in the debt of non-U.S. issuers, including up to 25% of its net assets in obligations of non-U.S. entities that are located in emerging markets. These limits apply only at the time of any specific new investments. Under normal market conditions, the portfolio managers expect the Portfolio to maintain an intermediate term average duration, which will generally fall within four to seven years. The Portfolio may utilize the following derivatives: options; futures contracts; options on futures contracts; interest rate caps, collars, and floors; foreign currency contracts; options on foreign currencies; swap agreements, including interest rate swaps, currency swaps, total return swaps, and credit default swaps; and options on swap agreements. The Portfolio may use these derivatives in an attempt to manage market risk, currency risk, credit risk and yield curve risk, to manage the effective maturity or duration of securities in the Portfolio or for speculative purposes in an effort to increase the Portfolio’s yield or to enhance returns. The Portfolio may also use derivatives to gain exposure to non-dollar denominated securities markets to the extent it does not do so through direct investments. The use of a derivative is speculative if the Portfolio is primarily seeking to enhance returns, rather than offset the risk of other positions. Developed exclusively for use within Nuveen-sponsored separately managed accounts, the Portfolio is a specialized portfolio to be used in combination with selected individual securities to effectively model institutional-level investment strategies. The Portfolio enables certain Nuveen separately managed account investors to achieve greater diversification and return potential than smaller managed accounts might otherwise achieve by using lower quality, higher yielding securities and to gain access to special investment opportunities normally available only to institutional investors. This prospectus should be read in conjunction with the Form ADV of the separately managed account in which you are investing. 2007-05-31 2007-05-31 2007-05-31 Principal Risks The price and yield of this Portfolio will change daily, which means you could lose money. An investment in the Portfolio 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 Portfolio include: Call Risk—If an issuer calls higher-yielding debt instruments held by the Portfolio, performance could be adversely impacted. Credit Risk—Credit risk is the risk that an issuer of a debt security may be unable or unwilling to make interest and principal payments when due and the related risk that the value of a debt security may decline because of concerns about the issuer’s ability or willingness to make such payments. In addition, parties to other financial contracts with the Portfolio could default on their obligations. Derivatives Risk—The use of derivatives involves additional risks and transaction costs which could leave the Portfolio in a worse position than if it had not used these instruments. Derivatives may entail investment exposures that are greater than their cost would suggest. As a result, a small investment in derivatives could have a large impact on performance. Recent legislation requires the development of a new regulatory framework for the derivatives market. The impact of the new regulations is still unknown, but has the potential to increase the costs of using derivatives, may limit the availability of some forms of derivatives or the Portfolio’s ability to use derivatives, and may adversely affect the performance of some derivative instruments used by the Portfolio as well as the Portfolio’s ability to pursue its investment objective through the use of such instruments. Dollar Roll Transaction Risk—The use of dollar rolls can increase the volatility of the Portfolio’s share price, and it may have an adverse impact on performance unless the sub-adviser correctly predicts mortgage prepayments and interest rates. High Yield Securities Risk—High yield securities are high risk investments that may cause income and principal losses for the Portfolio. They generally have greater credit risk, are less liquid and have more volatile prices than investment grade securities. Income Risk—The Portfolio’s income could decline during periods of falling interest rates. Interest Rate Risk—Interest rate risk is the risk that the value of the Portfolio’s portfolio will decline because of rising interest rates. When interest rates change, the values of longer-duration debt securities usually change more than the values of shorter-duration debt securities. Market Risk—The market values of the Portfolio’s investments may decline, at times sharply and unpredictably. Mortgage- and Asset-Backed Securities Risk—These securities generally can be prepaid at any time. Prepayments that occur either more quickly or more slowly than expected can adversely impact the value of such securities. They are also subject to extension risk, which is the risk that rising interest rates could cause mortgages or other obligations underlying the securities to be prepaid more slowly than expected, resulting in slower prepayments of the securities. A mortgage-backed security may be negatively affected by the quality of the mortgages underlying such security, the credit quality of its issuer or guarantor, and the nature and structure of its credit support. The downturn in the housing market and the resulting recession in the United States have negatively affected, and may continue to negatively affect, both the price and liquidity of certain mortgage-backed securities. Non-U.S./Emerging Markets Risk—Non-U.S. issuers or U.S. issuers with significant non-U.S. operations may be subject to risks in addition to those of issuers located in or that principally operate in the United States as a result of, among other things, political, social and economic developments abroad and different legal, regulatory and tax environments. These additional risks may be heightened for securities of issuers located in, or with significant operations in, emerging market countries. Also, changes in currency exchange rates may affect the Portfolio’s net asset value, the value of dividends and interest earned, and gains and losses realized on the sale of securities. The price and yield of this Portfolio will change daily, which means you could lose money. An investment in the Portfolio is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Non-Diversification Risk—As a non-diversified portfolio, the Portfolio may invest a larger portion of its assets in the securities of a limited number of issuers and may be more sensitive to any single economic, political or regulatory occurrence than a diversified portfolio. The bar chart below shows the variability of the Portfolio’s performance from year to year. The Portfolio’s past performance (before and after taxes) is not necessarily an indication of how the Portfolio will perform in the future. Average Annual Total Returns       for the Periods Ended        December 31, 2011 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. Portfolio Performance The price and yield of this Portfolio will change daily, which means you could lose money. An investment in the Portfolio 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 following bar chart and table provide some indication of the potential risks of investing in the Portfolio. The Portfolio’s past performance (before and after taxes) is not necessarily an indication of how the Portfolio will perform in the future. The bar chart below shows the variability of the Portfolio’s performance from year to year. The bar chart below shows the variability of the Portfolio’s performance from year to year. The Portfolio’s past performance (before and after taxes) is not necessarily an indication of how the Portfolio will perform in the future. 0.045 0.244 0.1456 0.0505 Annual Total Return During the four-year period ended December 31, 2011, the Portfolio’s highest and lowest quarterly returns were 10.51% and -2.75%, respectively, for the quarters ended September 30, 2009 and June 30, 2008. Year-to-date total return 2012-09-30 0.1171 highest 2009-09-30 0.1051 lowest 2008-06-30 -0.0275 The table below shows the variability of the Portfolio’s average annual returns and how they compare over the time periods indicated with those of a broad measure of market performance. 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. 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 Portfolio shares in tax-deferred accounts such as individual retirement accounts (IRAs) or employer-sponsored retirement plans. Performance reflects fee waivers, if any, in effect during the periods presented. If any such waivers were not in place, returns would be reduced. 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. Average Annual Total Returns   for the Periods Ended       December 31, 2011 0.0505 0.015 0.0397 0.0714 0.1214 0.083 0.0834 0.0702 2007-12-27 2007-12-27 2007-12-27 After-tax returns are not relevant to investors who hold Portfolio shares in tax-deferred accounts such as individual retirement accounts (IRAs) or employer-sponsored retirement plans. <div style="display:none">~ http://www.nuveen.com/role/ScheduleShareholderFeesMunicipalTotalReturnManagedAccountsPortfolio column period compact * ~</div> <div style="display:none">~ http://www.nuveen.com/role/ScheduleAnnualFundOperatingExpensesMunicipalTotalReturnManagedAccountsPortfolio column period compact * ~</div> <div style="display:none">~ http://www.nuveen.com/role/ScheduleExpenseExampleMunicipalTotalReturnManagedAccountsPortfolio column period compact * ~</div> <div style="display:none">~ http://www.nuveen.com/role/ScheduleExpenseExampleNoRedemptionMunicipalTotalReturnManagedAccountsPortfolio column period compact * ~</div> <div style="display:none">~ http://www.nuveen.com/role/ScheduleAnnualTotalReturnsMunicipalTotalReturnManagedAccountsPortfolioBarChart column period compact * ~</div> <div style="display:none">~ http://www.nuveen.com/role/ScheduleAverageAnnualTotalReturnsTransposedMunicipalTotalReturnManagedAccountsPortfolio column period compact * ~</div> <div style="display:none">~ http://www.nuveen.com/role/ScheduleShareholderFeesEnhancedMulti-StrategyIncomeManagedAccountsPortfolio column period compact * ~</div> After-tax returns are not relevant to investors who hold Portfolio shares in tax-deferred accounts such as individual retirement accounts (IRAs) or employer-sponsored retirement plans. <div style="display:none">~ http://www.nuveen.com/role/ScheduleAnnualFundOperatingExpensesEnhancedMulti-StrategyIncomeManagedAccountsPortfolio column period compact * ~</div> <div style="display:none">~ http://www.nuveen.com/role/ScheduleExpenseExampleEnhancedMultiStrategyIncomeManagedAccountsPortfolio column period compact * ~</div> 485BPOS Nuveen Managed Accounts Portfolios Trust 0001390204 2012-11-28 2012-11-30 <div style="display:none">~ http://www.nuveen.com/role/ScheduleExpenseExampleNoRedemptionEnhancedMultiStrategyIncomeManagedAccountsPortfolio column period compact * ~</div> <div style="display:none">~ http://www.nuveen.com/role/ScheduleAnnualTotalReturnsEnhancedMulti-StrategyIncomeManagedAccountsPortfolioBarChart column period compact * ~</div> <div style="display:none">~ http://www.nuveen.com/role/ScheduleAverageAnnualTotalReturnsTransposedEnhancedMulti-StrategyIncomeManagedAccountsPortfolio column period compact * ~</div> Redemption No Redemption Example false The Portfolio itself pays no management fees. You will, however, continue to incur the management fee for the amount invested in the Portfolio through the separately managed account associated with such investment. The investment adviser has agreed irrevocably during the existence of the Portfolio to waive all fees and pay or reimburse all expenses of the Portfolio, except for interest expense, taxes, fees incurred in acquiring and disposing of portfolio securities and extraordinary expenses. Year-to-date total return as of September 30, 2012 was 9.13%. Year-to-date total return as of September 30, 2012 was 11.71%.