Normas y requisitos de comercialización

Subsequent Measurement (continued)

Financial assets are valued at their bid prices at the accounting year end date for financial statement purposes. If a quoted official closing price is not available on a recognised stock exchange, the fair value of the financial instruments may be calculated with care and in good faith by a competent person appointed by the Directors approved for that purpose by the Custodian, following consultation with the relevant Sub-Investment Manager, on the basis of the probable realisation value for such assets as at close of business as of the dealing day on the relevant market. The following Sub-Funds held one investment which was priced in this manner.

As at 31st _{May, 2015 As at 31}st_{, May, 2014}

Sub-Fund USD USD

Nuveen Tradewinds Global All-Cap Fund 17 * 202,596

Nuveen Global Infrastructure Fund 1,403 –

Nuveen Global High Income Fund 0 –

* Adjusted value to reflect subsequent announcement made by the company.

Subsequent changes in the fair value of financial instruments at fair value through profit or loss are recognised in the Profit and Loss Account.

Fair Value Estimation

In accordance with FRS 29 “Financial Instruments: Disclosures – Improving Disclosures about Financial Instruments” the Company has classified the fair value measurements using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. Details of this fair value hierarchy are provided in Note 16.

Derecognition

The Company derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire or when the financial assets are transferred and the transfer qualifies for derecognition in accordance with FRS 26 “Financial Instruments: Recognition and Measurement”. The Company derecognises a financial liability when the obligation specified in the contract is discharged, cancelled or expired.

Fixed Income

The Nuveen Gresham Diversified Commodity Strategy Fund and the Nuveen Gresham Long/Short Commodity Strategy Fund both invest in fixed income investments. These Sub-Funds’ fixed income investments (excluding U.S. government securities) will be rated at all times at the Highest Investment Grade. These fixed income investments consist primarily of direct and guaranteed obligations of the U.S. government and senior obligations of U.S. government agencies and money market securities.

The Nuveen Global High Income Fund and the Nuveen NWQ Flexible Income Fund both may invest in fixed income securities that are rated lower than Investment Grade.

Options

The Sub-Funds may purchase call and put options. A call option gives the holder the right to buy an asset; a put option gives the holder the right to sell an asset. By purchasing options a Sub-Fund alters its exposure to the underlying asset by, in the case of a call option, entitling it to purchase the underlying asset at a set price from the writer of the option and, in the case of a put option, entitling it to sell the underlying asset at a set price to the writer of the option. A Sub-Fund pays a premium for a purchased option. That premium, if any, which is disclosed in the Portfolio of Investments, is subsequently reflected in the marked-to-market value of the option. The potential loss associated with purchasing put and call options is limited to the premium paid. Purchased option contracts outstanding at the end of the period, if any, are listed in each applicable Sub-Fund’s Portfolio of Investments.

NUVEEN GLOBAL INVESTORS FUND PLC

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31st _{May, 2015}

1 Accounting Policies (continued) b) Valuation of Investments (continued)

Options (continued)

As a writer of an option, a Sub-Fund has no control over whether it will be required to sell (call) or purchase (put) the underlying asset and as a result bears the risk of an unfavorable change in the price of the asset underlying the option. In the event that a Sub-Fund writes call options without an offsetting exposure (e.g., call options on an asset that the Sub-Fund does not own), it bears an unlimited risk of loss if the price of the underlying asset increases during the term of the option.

The Nuveen NWQ Flexible Income Fund is the only Sub-Fund which entered into the option contracts. Swaps

Swaps are contracts in which two parties agree to pay each other (swap) the returns derived from underlying assets with differing characteristics. Most swaps do not involve the delivery of the underlying assets by either party, and the parties might not own the assets underlying the swap. The payments are usually made on a net basis so that, on any given day, the Sub-Fund would receive (or pay) only the amount by which its payment under the contract is less than (or exceeds) the amount of the other party’s payment. Swap agreements are sophisticated instruments that can take many different forms. Common types of swaps in which the Sub-Funds may invest include interest rate swaps, total return swaps, total rate of return index swaps, credit default swaps, currency swaps, and caps and floors. The Nuveen Gresham Diversified Commodity Strategy Fund and the Nuveen Gresham Long/Short Commodity Strategy Fund have each entered into a total return swap agreement described under the respective descriptions of each Sub- Fund in the General Information section.

Total return swap agreements on indices involve commitments to pay interest in exchange for a market-linked return. One counterparty pays out the total return of a specific reference asset, which may be an equity, index, or bond, and in return receives a regular stream of payments. To the extent the total return of the security or index underlying the transaction exceeds or falls short of the offsetting interest rate obligation, the Sub-Fund will receive a payment from or make a payment to the counterparty.

Collateral Investments in Cash Equivalents

The Sub-Funds use of Over the Counter Financial Derivative Instruments (“OTC FDI”) generally will not require significant outlays of principal. A portion of the Sub-Fund’s assets will be initially committed and pledged as “initial” and “variation” margin to secure the total return swap. These assets will be held by the Custodian through an arrangement between the Company, the Custodian and the OTC FDI counterparty and will be held in cash or invested in U.S. Treasury bills generally maturing within less than one year at the time of investment. Collateral is derecognised when the securities on loan for which the collateral has been pledged have been returned to the relevant Sub-Fund.

Initial margin deposits are made upon entering into OTC FDIs and are generally made in cash and cash equivalents. The fair value of contracts is based upon their quoted daily settlement prices. Changes in the value of open contracts are recognised as unrealised appreciation or depreciation on contracts until the contracts are terminated, at which time realised appreciation and depreciation are recognised. Net realised appreciation or depreciation on total return swap contracts are shown in the Portfolio of Investments of each relevant Sub-Fund and as appropriate, on the Balance Sheet as financial assets/financial liabilities at fair value through profit or loss.

c) Recalculation of net asset value for Pricing Purposes

In accordance with FRS 26, the Company has classified all its investments at fair value through profit or loss. Investments are initially recognised at the fair value of the consideration given, with transaction costs for the year ended 31st _{May, 2015 totalling, USD 775,134 (31}st _{May, 2014: USD 706,629).}

To determine the net asset value of the Sub-Funds for shareholder dealing purposes, investments are valued based on the last traded price as of 4.00pm (Eastern Time) on the relevant dealing day. For financial statement purposes,

NUVEEN GLOBAL INVESTORS FUND PLC

NOTES TO THE FINANCIAL STATEMENTS (continued) For the year ended 31st _{May, 2015}