Nuveen Investments, a provider of investment services to institutions and high-net-worth investors, has completed the initial public offering of the Nuveen Diversified Commodity Fund.

The fund will invest primarily in a diversified portfolio of commodity futures and options contracts.

The fund will begin trading on the NYSE Amex under the symbol CFD.

The fund raised USD245m in its share offering, assuming full exercise of the underwriters' option to purchase additional shares, which may not occur.

Nuveen Commodities Asset Management, a wholly-owned subsidiary of Nuveen Investments, is the manager of the fund and will be responsible for determining the fund's overall investment strategy and its implementation.

Gresham Investment Management is the fund's commodity sub-adviser and will manage the fund's commodity investment strategy and options strategy.

Nuveen Asset Management serves as the fund's collateral sub-adviser.

BofA Merrill Lynch, UBS Investment Bank and Wells Fargo Securities acted as joint book-running managers for the offering, with Nuveen Investments acting as joint lead manager.