# EDGAR Filing Document

**Accession Number:** 0001084380
**File Stem:** 0000930413-25-002391
**Filing Date:** 2025-8
**Character Count:** 29770
**Document Hash:** 0477a0be4390a895315497dabce02c8c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000930413-25-002391.hdr.sgml**: 20250807

**ACCESSION NUMBER**: 0000930413-25-002391

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 6

**FILED AS OF DATE**: 20250807

**DATE AS OF CHANGE**: 20250807

**EFFECTIVENESS DATE**: 20250807

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TIAA-CREF FUNDS
- **CENTRAL INDEX KEY:** 0001084380

**ORGANIZATION NAME:**
- **EIN:** 134055167
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-76651
- **FILM NUMBER:** 251191816

**BUSINESS ADDRESS:**
- **STREET 1:** 730 THIRD AVE.
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 2129166746

**MAIL ADDRESS:**
- **STREET 1:** 730 THIRD AVE.
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TIAA CREF INSTITUTIONAL MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 19990415

## Series and Classes Contracts Data

### Nuveen International Opportunities Fund (Series ID: S000040206)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000124962 | Class R6         | TIOIX           |
| C000124963 | Premier Class    | TIOPX           |
| C000124964 | Class A          | TIOSX           |
| C000124965 | Retirement Class | TIOTX           |
| C000162599 | Class I          | TIOHX           |
| C000202765 | Class W          | TIOVX           |

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| | | |
|:---|:---|:---|
| ![](x1_c113553x1x1.jpg) | &nbsp;&nbsp;**Mutual**<br> **Funds** | &nbsp;&nbsp;**Summary**<br> **Prospectus** |

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Nuveen International Opportunities Fund

(formerly TIAA-CREF International Opportunities Fund)

**MARCH 1, 2025, AS SUPPLEMENTED AUGUST 7, 2025**

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Class:** | **Class A** | **Class I** | **Premier** | **Class R6** | **Retirement** | **Class W** |
| Ticker: | TIOSX | TIOHX | TIOPX | TIOIX | TIOTX | TIOVX |

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*This summary prospectus is designed to provide investors with key Fund information in a clear and concise format. Before you invest, you may want to review the Fund's complete prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus, reports to shareholders and other information about the Fund online at www.nuveen.com/prospectus. You can also get this information at no cost by calling 800-257-8787 or by sending an e-mail request to mutualfunds@nuveen.com. If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), the prospectus, reports to shareholders and other information will also be available from your financial intermediary. The Fund's prospectus and statement of additional information, both dated March 1, 2025, are incorporated by reference into this summary prospectus and may be obtained, free of charge, at the website, phone number or e-mail address noted above.*

**Investment objective**

The Fund seeks a favorable long-term total return, mainly through capital appreciation, primarily from equity securities of foreign issuers.

**Fees and expenses**

The following tables describe the fees and expenses that you may pay if you buy, hold and sell 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 "How You Can Buy and Sell Shares" on page 125 of the Fund's Prospectus and "Purchase and Redemption of Fund Shares" on page 104 of the Fund's Statement of Additional Information. In addition, more information about sales charge discounts and waivers for

Nuveen International Opportunities Fund ▪ **Summary Prospectus** <sub>1</sub>

purchases of shares through specific financial intermediaries is set forth in the appendix to the Fund's Prospectus entitled "Variations in Sales Charge Reductions and Waivers Available Through Certain Intermediaries."

The tables and examples below do not reflect any commissions that shareholders may be required to pay directly to their financial intermediaries when buying or selling Class I shares.

**SHAREHOLDER FEES** (fees paid directly from your investment)

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Class A** | **Class I** | **Premier <br> Class** | **Class R6** | **Retirement <br> Class** | **Class W** |
| Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | 5.75% | 0% | 0% | 0% | 0% | 0% |
| Maximum deferred sales charge (load) | 0% | 0% | 0% | 0% | 0% | 0% |
| Maximum sales charge (load) imposed on reinvested dividends and other distributions | 0% | 0% | 0% | 0% | 0% | 0% |
| Redemption or exchange fee | 0% | 0% | 0% | 0% | 0% | 0% |
| Annual low balance account fee (for accounts under $1,000) | $15.00 | 0% | 0% | 0% | 0% | 0% |

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**ANNUAL FUND OPERATING EXPENSES** (expenses that you pay each year as a percentage of the value of your investment)

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Class A** | **Class I** | **Premier<br> Class** | **Class R6** | **Retirement<br> Class** | **Class W** |
| Management fees | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
| Distribution (Rule 12b-1) fees | 0.25% |  | 0.15% |  |  |  |
| Other expenses | 0.12%<sup>1</sup> | 0.11% | 0.03% | 0.02% | 0.27% | 0.02% |
| Total annual Fund operating expenses | 0.95% | 0.69% | 0.76% | 0.60% | 0.85% | 0.60% |
| Waivers and expense reimbursements<sup>2</sup> |  |  |  |  |  | (0.60)%<sup>3</sup> |
| Total annual Fund operating expenses after fee waiver and/or expense reimbursement | 0.95% | 0.69% | 0.76% | 0.60% | 0.85% | 0.00% |

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<sup>1</sup> Restated to reflect estimates for the current fiscal year.

<sup>2</sup> Under the Fund's expense reimbursement arrangements, the Fund's investment adviser, Teachers Advisors, LLC, has contractually agreed to reimburse the Fund for any Total annual Fund operating expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired fund fees and expenses and extraordinary expenses) that exceed: (i) 1.05% of average daily net assets for Class A shares; (ii) 0.85% of average daily net assets for Class I shares; (iii) 0.85% of average daily net assets for Premier Class shares; (iv) 0.70% of average daily net assets for Class R6 shares; (v) 0.95% of average daily net assets for Retirement Class shares; and (vi) 0.70% of average daily net assets for Class W shares of the Fund. These expense reimbursement arrangements will continue through at least February 28, 2026, unless changed with approval of the Board of Trustees.

<sup>3</sup> Teachers Advisors, LLC has contractually agreed to waive and/or reimburse Class W's Management fees and Other expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired fund fees and expenses, Trustee expenses and extraordinary expenses) in their entirety. Teachers Advisors, LLC expects these waiver and/or reimbursement arrangements to remain in effect indefinitely, unless changed or terminated with approval of the Board of Trustees.

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| | |
|:---|:---|
| 2 | **Summary Prospectus ▪** Nuveen International Opportunities Fund |

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**Example**

This example is intended to help you compare the cost of investing in shares of 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 redeem all your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund's operating expenses, before fee waivers and/or expense reimbursements, remain the same. The example assumes that the Fund's fee waiver and/or expense reimbursement arrangements will each remain in place for the durations noted in the table above. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Class A** | **Class I** | **Premier <br> Class** | **Class R6** | **Retirement Class** | **Class W** |
| 1 year | $666 | $70 | $78 | $61 | $87 | $0 |
| 3 years | $860 | $221 | $243 | $192 | $271 | $0 |
| 5 years | $1070 | $384 | $422 | $335 | $471 | $0 |
| 10 years | $1674 | $859 | $942 | $750 | $1049 | $0 |

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**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 fiscal year ended October 31, 2024, the Fund's portfolio turnover rate was 21% of the average value of its portfolio.

**Principal investment strategies**

The Fund primarily invests in equity securities of issuers in developed and emerging markets located around the world but outside the United States. The Fund anticipates investing in a number of foreign markets, but at a minimum it will invest in at least three countries outside the United States. The Fund's investment adviser, Teachers Advisors, LLC ("Advisors"), selects individual stocks, and lets the Fund's country and regional asset allocations evolve from this stock selection. The Fund may invest in companies of all sizes.

Advisors typically invests in companies that it believes can demonstrate positive and sustainable structural change. In addition, Advisors looks for companies in the early stages of a structural growth opportunity driven by differentiated products and/or services that maintain strong barriers to entry, continue to outgrow peers and demonstrate accelerating top-line growth with margin expansion. Advisors will typically invest in these types of companies when Advisors believes that their stock prices do not fully reflect the stock's potential value, based on current earnings, assets and long-term growth prospects.

Nuveen International Opportunities Fund ▪ **Summary Prospectus** <sub>3</sub>

The Fund is actively managed; however, Advisors regularly reviews the Fund's sector and country exposure against the Fund's benchmark index, the MSCI ACWI (All Country World Index) ex USA<sup>®</sup> Growth Index (the "MSCI ACWI ex USA Growth Index"), to seek to control risk.

The Fund may purchase and sell futures, options, swaps and other equity derivatives to carry out the Fund's investment strategies.

**Principal investment risks**

You could lose money over short or long periods by investing in this Fund. An investment in the Fund, due to the nature of the Fund's portfolio holdings, typically is subject to the following principal investment risks:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Market Risk—** The risk that market prices of portfolio investments held by the Fund may fluctuate rapidly or
unpredictably due to a variety of factors, including responses to government actions or interventions, or changing economic, political
or market conditions. Market risk may affect a single issuer, industry or sector of the economy, or it may affect the market as
a whole. Such conditions may add significantly to the risk of volatility in the net asset value ("NAV") of the Fund's
shares and adversely affect the Fund and its investments. From time to time, the Fund may invest a significant portion of its
assets in companies in one or more related sectors or industries, which would make the Fund more vulnerable to adverse developments
affecting such sectors or industries. The Fund currently invests a significant portion of its assets in companies in the consumer
discretionary sector, although this may change over time.

• **Issuer Risk** (often called **Financial Risk**) **—** The risk that an issuer's earnings prospects,
 credit rating and overall financial position will deteriorate, causing a decline in the value of the issuer's financial
 instruments over short or extended periods of time.

• **Active Management Risk—** The risk that Advisors' strategy, investment selection or trading execution
 may cause the Fund to underperform relative to the benchmark index or mutual funds with similar investment objectives and/or
 strategies and may not produce the desired results or expected returns.

• **Foreign Investment Risk—** Foreign markets can be more volatile than the U.S. market due to increased risks
 of adverse issuer, political, regulatory, currency, market or economic developments as well as armed conflicts and can result
 in greater price volatility and perform differently from financial instruments of U.S. issuers. This risk may be heightened
 in emerging or developing markets. Foreign investments may also have lower liquidity and be more difficult to value than investments
 in U.S. issuers. To the extent the Fund invests a significant portion of its assets in the securities of companies in a single
 country or region, it may be more susceptible to adverse economic, market, political or regulatory events or conditions affecting
 that country or region. Foreign investments may also be subject to

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| | |
|:---|:---|
| 4 | **Summary Prospectus ▪** Nuveen International Opportunities Fund |

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| | |
|:---|:---|
|  | risk of loss because of more or less foreign government regulation, less public information, less stringent investor protections and less stringent accounting, corporate governance, financial reporting and disclosure standards. Changes in the value of foreign currencies may make the return on an investment increase or decrease, unrelated to the quality or performance of the investment itself. The imposition of sanctions, exchange controls (including repatriation restrictions), confiscations, trade restrictions (including tariffs) and other restrictions by the United States or other governments may also negatively impact the Fund's investments. Economic sanctions and other similar governmental actions or developments could, among other things, effectively restrict or eliminate the Fund's ability to purchase or sell certain foreign securities or groups of foreign securities, and/or thus may make the Fund's investments in such securities less liquid (or illiquid) or more difficult to value. The type and severity of sanctions and other measures that may be imposed could vary broadly in scope, and their impact is impossible to predict. |
| • | **Emerging Markets Risk—**The risk of foreign investment often increases in countries with emerging markets or those economically tied to emerging market countries. For example, these countries may have more unstable governments than developed countries, and their economies may be based on only a few industries. Emerging market countries may also have less stringent regulation of accounting, auditing, financial reporting and recordkeeping requirements, which would affect the Fund's ability to evaluate potential portfolio companies. As a result, there could be less information available about issuers in emerging market countries, which could negatively affect Advisors' ability to evaluate local companies or their potential impact on the Fund's performance. Because their financial markets may be very small, share prices of financial instruments in emerging market countries may be volatile and difficult to determine. Financial instruments of issuers in these countries may have lower overall liquidity than those of issuers in more developed countries and may be more vulnerable to market manipulation. In addition, foreign investors such as the Fund are subject to a variety of special restrictions in many emerging market countries. Moreover, legal remedies for investors in emerging markets may be more limited, and U.S. authorities may have less ability to enforce certain regulatory or legal obligations or otherwise bring actions against bad actors in emerging market countries. Frontier markets are those emerging markets that are considered to be among the smallest, least mature and least liquid, and as a result, the risks of investing in emerging markets are magnified in frontier markets. |
| • | **Large-Cap Risk—**The risk that large-capitalization companies are more mature and may grow more slowly than the economy as a whole and tend to go in and out of favor based on market and economic conditions. |

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Nuveen International Opportunities Fund ▪ **Summary Prospectus** <sub>5</sub>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Mid-Cap Risk—** The risk that the stocks of mid-capitalization
 companies often experience greater price volatility, lower trading volume and lower overall liquidity than the stocks of larger,
 more established companies.

• **Small-Cap Risk—** The risk that the stocks of small-capitalization
 companies often experience greater price volatility than large- or mid-sized companies because small-cap companies are often
 newer or less established than larger companies and are likely to have more limited resources, products and markets. Securities
 of small-cap companies often have lower overall liquidity than securities of larger companies as a result of there being a
 smaller market for their securities, which can have an adverse effect on the pricing of these securities and on the ability
 to sell these securities when Advisors deems it appropriate.

• **Illiquid Investments Risk—** The risk that illiquid investments
 may be difficult to sell for the value at which they are carried, if at all, or at any price within the desired time frame.

• **Currency Risk—** The risk that foreign (non-U.S.) currencies
 may decline in value relative to the U.S. dollar and adversely affect the value of the Fund's investments in foreign
 currencies, securities denominated in foreign currencies or derivative instruments that provide exposure to foreign currencies.
 Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including
 changes in interest rates and the imposition of currency controls or other political, economic and tax developments in the
 U.S. or abroad.

• **Derivatives Risk—** The risks associated with investing
 in derivatives, including futures, options, swaps, and other equity derivative instruments, and other similar instruments
 (referred to collectively as "derivatives") may be different and greater than the risks associated with directly
 investing in the underlying securities and other instruments, and include leverage risk, market risk, counterparty risk, liquidity
 risk, operational risk and legal risk. The Fund may use more complex derivatives that might be particularly susceptible to
 liquidity, credit and counterparty risk. When investing in derivatives, the Fund may lose more than the principal amount invested.
 Derivatives used for hedging or risk management may not operate as intended, may expose the Fund to other risks, and may be
 insufficient to protect the Fund from the risks they were intended to hedge.

*Please see the non-summary portion of the Prospectus for more detailed information about the risks described above.*

**Past performance**

The following chart and table help illustrate some of the risks of investing in the Fund by showing changes in the Fund's performance from year to year. The bar chart shows the annual total returns of Class R6 of the Fund, before taxes, in each full calendar year for the last ten years. Because the expenses vary across share classes, the performance of Class R6 may vary from the other share

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| | |
|:---|:---|
| 6 | **Summary Prospectus ▪** Nuveen International Opportunities Fund |

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classes. Below the bar chart are the best and worst returns of Class R6 for a calendar quarter during the full calendar-year periods covered by the bar chart. The performance table following the bar chart shows the Fund's average annual total returns for Class R6, Class I, Premier Class, Retirement Class, Class A and Class W over the applicable one-year, five-year, ten-year and since-inception periods ended December 31, 2024, and how those returns compare to those of the Fund's benchmark and broad-based securities market index. After-tax performance is shown only for Class R6 shares, and after-tax returns for the other classes of shares will vary from the after-tax returns presented for Class R6 shares.

The returns shown below reflect previous agreements by Advisors to waive, reimburse and/or compensate the Fund for certain fees, expenses and/or costs. Without these reductions and/or compensation, the returns of the Fund would have been lower. Past performance of the Fund (before and after taxes) is not necessarily an indication of how it will perform in the future. The benchmark and broad-based securities market index listed below is unmanaged, and you cannot invest directly in an index. The returns for the benchmark index reflect no deduction for fees, expenses or taxes.

*For current performance information of each share class, including performance to the most recent month-end, please visit www.nuveen.com/performance or call 800-257-8787.*

**ANNUAL TOTAL RETURNS FOR CLASS R6 SHARES (%)**

**Nuveen International Opportunities Fund**

![](x1_c113553x7x1.jpg)

Best quarter: 33.30%, for the quarter ended June 30, 2020. Worst quarter: -22.53%, for the quarter ended March 31, 2020.

Nuveen International Opportunities Fund ▪ **Summary Prospectus** <sub>7</sub>

**AVERAGE ANNUAL TOTAL RETURNS**

For the Periods Ended December 31, 2024

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Class name (Inception date)** | **One<br> year** | **Five<br> years** | **Ten<br> years** | **Class I<br> Since inception<br> (12/04/2015)** | **Class W<br> Since<br> inception<br> (09/28/2018)** |
| **Class R6 (04/12/2013)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Return before taxes | 0.72% | 3.78% | 5.88% | N/A | N/A |
| &nbsp;&nbsp;&nbsp;Return after taxes on distributions | 0.43% | 3.11% | 5.42% | N/A | N/A |
| &nbsp;&nbsp;&nbsp;Return after taxes on distributions and sale of Fund shares | 0.74% | 2.99% | 4.76% | N/A | N/A |
| **Class I (12/04/2015)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Return before taxes | 0.62% | 3.67% | 5.80% | 5.21% | N/A |
| **Premier Class (04/12/2013)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Return before taxes | 0.56% | 3.64% | 5.74% | N/A | N/A |
| **Retirement Class (04/12/2013)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Return before taxes | 0.45% | 3.60% | 5.68% | N/A | N/A |
| **Class A (04/12/2013)<sup>\*</sup>** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Return before taxes | –5.36% | 2.17% | 4.85% | N/A | N/A |
| **Class W (09/28/2018)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Return before taxes | 1.37% | 4.39% | 6.28% | N/A | 5.61% |
| MSCI ACWI ex USA<br> (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes) | 5.53% | 4.10% | 4.80% | 5.82% | 4.48% |
| MSCI ACWI ex USA Growth<br> (reflects reinvested dividends net of withholding taxes but reflects no deductions for fees, expenses or other taxes) | 5.07% | 3.44% | 5.35% | 5.95% | 4.58% |

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*Current performance of the Fund's shares may be higher or lower than that shown above.*

\* The Class A average annual total returns have been restated to reflect a maximum up-front sales charge of 5.75% applicable to the purchase of Class A shares, which was effective as of May 6, 2024.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect during the periods shown and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as 401(a), 401(k) or 403(b) plans or Individual Retirement Accounts (IRAs). After-tax returns are shown for only one class, and after-tax returns for other classes will vary.

Effective August 7, 2025, the Fund selected the MSCI ACWI ex USA Growth Index to replace the MSCI ACWI ex USA Index as a Fund benchmark index because it more closely reflects how the Fund is managed. The MSCI ACWI ex USA Index will remain the Fund's broad-based securities market index.

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|:---|:---|
| 8 | **Summary Prospectus ▪** Nuveen International Opportunities Fund |

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**Portfolio management**

**Investment Adviser.** Teachers Advisors, LLC.

**Portfolio Managers.**

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| | | |
|:---|:---|:---|
| **Name:** | **Gregory Mancini** | **John Tribolet** |
| Title: | Managing Director | Managing Director |
| Experience on Fund: | since 2025 | since 2025 |

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**Purchase and sale of Fund shares**

You may purchase, redeem or exchange shares of the Fund on any day that the New York Stock Exchange ("NYSE") or its affiliated exchanges, NYSE Arca Equities or NYSE American, are open for trading (each such day a "Business Day") directly from the Fund (for certain share classes) or through a financial advisor, employee benefit plan or other financial intermediary. The Fund's initial and subsequent investment minimums generally are as follows, although certain financial intermediaries may impose their own investment minimums and the Fund may reduce or waive the minimums in some cases:

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| | | |
|:---|:---|:---|
|  | **Eligibility and Minimum Initial Investment** | **Minimum Additional <br> Investment** |
| &nbsp;&nbsp;**Class A** | **Available only through certain financial intermediaries or by contacting the Fund directly as described in the Prospectus.**<br> **$2,500 for all accounts except:**<br> **• $2,000 for Traditional/Roth IRA accounts and Coverdell Education Savings Accounts.**<br> **• $250 for accounts opened through fee-based programs.**<br> **• No minimum for retirement plans.** | **$100** |
| &nbsp;&nbsp;**Class I** | **Available only through fee-based programs and certain retirement plans, and to other limited categories of investors as described in the Prospectus.**<br> **$100,000 for all accounts except:**<br> **• $250 for clients of financial intermediaries and family offices that have accounts holding Class I shares with an aggregate value of at least $100,000 (or that are expected to reach this level).**<br> **• No minimum for eligible retirement plans and certain other categories of eligible investors as described in the Prospectus.** | **No minimum.** |

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Nuveen International Opportunities Fund ▪ **Summary Prospectus** <sub>9</sub>

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| | | |
|:---|:---|:---|
|  | **Eligibility and Minimum Initial Investment** | **Minimum Additional<br> Investment** |
| &nbsp;&nbsp;**Premier Class, Retirement Class** | **Available only through certain employee benefit plans, other types of savings plans or accounts and certain financial intermediaries as described in the Prospectus.**<br>**No minimum.** | **No minimum.** |
| &nbsp;&nbsp;**Class R6** | **Available only to certain eligible investors as described in the Prospectus and through fee-based programs.**<br> **$1 million for all accounts except:**<br> **• $1,000 for clients of financial intermediaries who charge such clients an ongoing fee for advisory, investment, consulting or related services.** | **No minimum.** |
| &nbsp;&nbsp;**Class W** | **Available directly from the Fund only by funds advised by Advisors or its affiliates or other clients or accounts of Advisors or its affiliates that are subject to a contractual fee for advisory, management or other similar or related services provided by Advisors or its affiliates.**<br>**No minimum.** | **No minimum.** |

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**Tax information**

The Fund intends to make distributions to shareholders that may be taxed as ordinary income or capital gains. Distributions made to tax-exempt shareholders or shareholders who hold Fund shares in a tax-deferred account are generally not subject to income tax in the current year, but redemptions made from tax-deferred accounts may be subject to income tax.

**Payments to broker-dealers and other financial intermediary compensation**

If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and/or its related companies may pay the financial intermediary for providing investor services. The Fund's related companies may also pay the financial intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other financial intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.

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| 10 | **Summary Prospectus ▪** Nuveen International Opportunities Fund |

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| ![](x1_c113553x12x1.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 Third Avenue<br> New York, NY 10017-3206 |

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| ![](x1_c113553x12x3.jpg) | &nbsp;&nbsp;Printed on paper containing recycled fiber | MPM-TCFIO-0825P |

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| ![](x1_c113553x12x1.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730 Third Avenue<br> New York, NY 10017-3206 |

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MPM-TCFIO-0825P