As filed with the Securities and Exchange Commission on December 21, 2012
1933 Act Registration No. 333-140967
1940 Act Registration No. 811-22023
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. 13 | x | |||
and/or | ||||
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 |
¨ | |||
Amendment No. 14 | x |
Nuveen Managed Accounts Portfolios Trust
(Exact Name of Registrant as Specified in Charter)
333 West Wacker Drive, Chicago, Illinois | 60606 | |
(Address of Principal Executive Offices) | (Zip Code) |
Registrants 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 Portfolios, each a series of the Registrant:
Municipal Total Return Managed Accounts Portfolio
Enhanced Multi-Strategy Income Managed Accounts Portfolio
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 21st day of December, 2012.
NUVEEN MANAGED ACCOUNTS PORTFOLIOS TRUST | ||
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) | December 21, 2012 | ||||||
/S/ GIFFORD R. ZIMMERMAN GIFFORD R. ZIMMERMAN |
Chief Administrative Officer (principal executive officer) | December 21, 2012 | ||||||
ROBERT P. BREMNER* | Chairman of the Board and Trustee | ý ï ï ï ï ï ï ï ï ï ï ï ï ï þ ï ï ï ï ï ï ï ï ï ï ï ï ï þ |
By |
/S/ KEVIN J. MCCARTHY
KEVIN J. MCCARTHY Attorney-in-Fact December 21, 2012 | ||||
JOHN P. AMBOIAN* | Trustee | |||||||
JACK B. EVANS* | Trustee |
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WILLIAM C. HUNTER* | Trustee |
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DAVID J. KUNDERT* | Trustee |
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WILLIAM J. SCHNEIDER* | Trustee |
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JUDITH M. STOCKDALE* | Trustee |
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CAROLE E. STONE* | Trustee |
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VIRGINIA L. STRINGER* | Trustee |
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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 |
Exhibit | |||
101.INS | XBRL Instance Document | |||
101.SCH | XBRL Taxonomy Extension Schema Document | |||
101.CAL | XBRL Taxonomy Extension Calculation Linkbase | |||
101.DEF | XBRL Taxonomy Extension Definition Linkbase | |||
101.LAB | XBRL Taxonomy Extension Labels Linkbase | |||
101.PRE | XBRL Taxonomy Extension Presentation Linkbase |
Label | Element | Value | ||||||
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Risk/Return: | rr_RiskReturnAbstract | |||||||
Registrant Name | dei_EntityRegistrantName | Nuveen Managed Accounts Portfolios Trust | ||||||
Prospectus Date | rr_ProspectusDate | Nov. 30, 2012 | ||||||
Municipal Total Return Managed Accounts Portfolio
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Risk/Return: | rr_RiskReturnAbstract | |||||||
Risk/Return [Heading] | rr_RiskReturnHeading | Municipal Total Return Managed Accounts Portfolio | ||||||
Objective [Heading] | rr_ObjectiveHeading | Investment Objectives | ||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | 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. | ||||||
Expense [Heading] | rr_ExpenseHeading | Fees and Expenses of the Portfolio | ||||||
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 Portfolio. | ||||||
Shareholder Fees Caption [Text] | rr_ShareholderFeesCaption | Shareholder Fees (fees paid directly from your investment) |
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Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Portfolio Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
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Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | 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. | ||||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 29.00% | ||||||
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 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: | ||||||
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 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. |
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Risk [Heading] | rr_RiskHeading | Principal Risks | ||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | 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. |
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Risk Lose Money [Text] | rr_RiskLoseMoney | The price and yield of this Portfolio will change daily, which means you could lose money. | ||||||
Risk Nondiversified Status [Text] | rr_RiskNondiversifiedStatus | 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. | ||||||
Risk Not Insured Depository Institution [Text] | rr_RiskNotInsuredDepositoryInstitution | 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. | ||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Portfolio Performance | ||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | 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. |
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Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The bar chart below shows the variability of the Portfolio’s performance from year to year. | ||||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | The Portfolio’s past performance (before and after taxes) is not necessarily an indication of how the Portfolio will perform in the future. | ||||||
Bar Chart [Heading] | rr_BarChartHeading | Annual Total Return | ||||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | 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. | ||||||
Performance Table Heading | rr_PerformanceTableHeading | Average Annual Total Returns for the Periods Ended December 31, 2011 |
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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 Portfolio shares in tax-deferred accounts such as individual retirement accounts (IRAs) or employer-sponsored retirement plans. | ||||||
Performance Table Narrative | rr_PerformanceTableNarrativeTextBlock | 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. |
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Municipal Total Return Managed Accounts Portfolio | Municipal Total Return Managed Accounts Portfolio
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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 net asset value) | rr_MaximumDeferredSalesChargeOverOther | none | ||||||
Maximum Sales Charge (Load) Imposed on Reinvested Dividends | rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther | none | ||||||
Exchange Fee | rr_ExchangeFeeOverRedemption | none | ||||||
Management Fees | rr_ManagementFeesOverAssets | none | [1] | |||||
Other Expenses | rr_OtherExpensesOverAssets | 0.12% | ||||||
Total Annual Portfolio Operating Expenses | rr_ExpensesOverAssets | 0.12% | ||||||
Fee Waiver and/or Expense Reimbursements | rr_FeeWaiverOrReimbursementOverAssets | (0.12%) | [2] | |||||
Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursements | rr_NetExpensesOverAssets | none | ||||||
1 Year | rr_ExpenseExampleYear01 | none | ||||||
3 Years | rr_ExpenseExampleYear03 | none | ||||||
5 Years | rr_ExpenseExampleYear05 | none | ||||||
10 Years | rr_ExpenseExampleYear10 | none | ||||||
1 Year | rr_ExpenseExampleNoRedemptionYear01 | none | ||||||
3 Years | rr_ExpenseExampleNoRedemptionYear03 | none | ||||||
5 Years | rr_ExpenseExampleNoRedemptionYear05 | none | ||||||
10 Years | rr_ExpenseExampleNoRedemptionYear10 | none | ||||||
2008 | rr_AnnualReturn2008 | (4.90%) | [3] | |||||
2009 | rr_AnnualReturn2009 | 17.30% | [3] | |||||
2010 | rr_AnnualReturn2010 | 3.39% | [3] | |||||
2011 | rr_AnnualReturn2011 | 13.43% | [3] | |||||
Year to Date Return, Label | rr_YearToDateReturnLabel | Year-to-date total return | ||||||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Sep. 30, 2012 | ||||||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | 9.13% | ||||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | highest | ||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Sep. 30, 2009 | ||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 8.02% | ||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | lowest | ||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2010 | ||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (5.23%) | ||||||
1 Year | rr_AverageAnnualReturnYear01 | 13.43% | ||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 6.49% | ||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | May 31, 2007 | ||||||
Municipal Total Return Managed Accounts Portfolio | Return After Taxes on Distributions | Municipal Total Return Managed Accounts Portfolio
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Risk/Return: | rr_RiskReturnAbstract | |||||||
1 Year | rr_AverageAnnualReturnYear01 | 13.36% | ||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 6.43% | ||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | May 31, 2007 | ||||||
Municipal Total Return Managed Accounts Portfolio | Return After Taxes on Distributions and Sale of Shares | Municipal Total Return Managed Accounts Portfolio
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Risk/Return: | rr_RiskReturnAbstract | |||||||
1 Year | rr_AverageAnnualReturnYear01 | 10.76% | ||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 6.23% | ||||||
Inception Date | rr_AverageAnnualReturnInceptionDate | May 31, 2007 | ||||||
Municipal Total Return Managed Accounts Portfolio | Barclays 7-Year Municipal Bond Index (reflects no deduction for fees, expenses, or taxes)
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Risk/Return: | rr_RiskReturnAbstract | |||||||
1 Year | rr_AverageAnnualReturnYear01 | 10.14% | ||||||
Since Inception | rr_AverageAnnualReturnSinceInception | 6.84% | ||||||
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