Nuveen Quality Preferred Income Fund (the Fund) is a closed-end management investment company. The Fund's investment objective is high current income consistent with capital preservation. The Fund's secondary investment objective is to enhance portfolio value. The Fund invests at least 80% of its managed assets in taxable preferred securities that, at the time of investment, are rated investment grade (Baa/BBB or better). The Fund may invest up to 20% of its net assets in debt securities, including convertible debt securities and convertible preferred securities, and 100% of its total assets in securities that, at the time of investment, are investment grade quality (BBB/Baa or better), which may include up to 10% in securities that are rated investment grade by at least one nationally recognized statistical rating organization and lower by another. The Funds' investment adviser is Nuveen Fund Advisors, Inc. Its sub-adviser is Spectrum Asset Management, Inc.