The Nuveen Preferred & Income Term Fund (JPI) is a mutual fund that primarily invests in preferred securities and fixed-income instruments. These investments provide a steady stream of income for investors, making it an attractive option for those seeking regular cash flow. The fund is managed by Nuveen, a well-respected investment management firm, and aims to provide a balance of income and capital appreciation for its shareholders. With a focus on preferred securities, which are a type of hybrid security that combines features of both stocks and bonds, the fund offers a potential for higher returns than traditional fixed-income investments. Overall, the Nuveen Preferred & Income Term Fund (JPI) is a suitable choice for investors looking for a diversified portfolio with a focus on income generation.