Item 8.01. Other Events.

Clarification of Investment Policy

Effective July 21. 2020, Nuveen Mortgage and Income Fund (NYSE: JLS) (the "Fund") announced a clarification of how it performs industry classifications for purpose of its investment policy regarding non-mortgage related asset-backed securities ("ABS").

The Fund may invest up to 35% of managed assets in non-mortgage related ABS, including but not limited to any asset that generates reliable cash flows including collateralized loan obligations ("CLOs") as well as pools of consumer auto loans, credit card receivables, aircraft leases and maintenance agreements, timeshare agreements, and solar photovoltaics. The Fund also considers catastrophe bonds, which are backed by a secured collateral account, to be ABS.

Regarding industry concentration, as a fundamental policy, the Fund concentrates its investments in mortgage-backed securities ("MBS") and expressly treats MBS as a single industry or group of industries. The Fund is not permitted to concentrate in other industries or groups of industries.

Because issuers of non-mortgage related ABS may be disparately impacted by various developments in the markets for the underlying collateral and given the economic similarities between non-mortgage related ABS securities based on various underlying collateral types, for the purposes of this industry concentration policy, effective July 21, 2020, the Fund will not invest more than 25% of its assets in non-mortgage related ABS securities in any one of the following industry classifications: CLOs, auto loans, aircraft leases, catastrophe bonds, consumer loans, timeshare receivables, franchise receivables, solar ABS, and other ABS.

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