Tradewinds, which specializes in global equity through both top-down and bottom-up analysis, is an example of a company operating under the Nuveen umbrella. Dave Iben, chief investment officer for Tradewinds, which has $20.6 billion under management, explains, "We manage global portfolios. Our research team is structured with a global-sector focus, which gives us the knowledge base to scour the globe looking for compelling opportunity whether the company's headquarters are in Phoenix or in Mumbai. We look for value investments that are mispriced that others do not see or that computers cannot identify.
"Tradewinds likes to buy assets for less than they are worth, which everyone does, but what sets us apart from the other value investors is that we have a more people-oriented, research intensive approach. The work of the individual sector analysts is constructively challenged and ultimately enhanced through daily investment team discussions. This creates an environment characterized by intensive information collection, assessment and collaboration," Iben adds.
"We understand our global industry sectors very well and seek to capitalize on the market opportunities that are presented by both positive and challenging change."
Constance Lawton, Tradewinds co-president, adds, "We have a centralized team of highly skilled analysts who research companies irrespective of the ultimate portfolio. Each prospective investment goes through the same analytical process to see if it should be included on our approved list. All Tradewinds portfolios are assembled from the same approved list, which ensures a uniform approach to philosophy, process and level of due diligence. Further, our association with Nuveen is a good one. They supplement our investment expertise with world class assistance in areas such as sales and marketing, legal and compliance and human resources."
With the assistance of the independent firms under it, Nuveen manages billions in separately managed accounts that cover the spectrum from large-cap growth to international value to balanced funds.
"Within this market Nuveen is known for managing customized portfolios of high-quality, large-cap growth stocks, multi-cap value equities and both taxable and tax-free fixed income investments," Anson says.
Nuveen also offers a variety of closed-end funds, including national or state specific municipal bond funds, real estate, and global debt as well as preferred and convertible securities.
It continues to offer advisors of the high-net-worth the best-of-breed in mutual funds, and also handles institutional separately managed accounts, including large-cap equities, convertible arbitrage and credit arbitrage for U.S.-based corporate and public pension funds, university endowments, foundations and insurers.
Alan Brown, Nuveen executive vice president adds, "As a firm, we try to look like an ideal portfolio, with diversified institutional-caliber offerings. But it all goes back to what makes us different. Our conservative municipal heritage has us rooted in risk management, but we understand the importance of investments across the risk spectrum. When we go into a sector, we get a strong manager and each of our affiliates shares our commitment to risk management."
The changing market is combining with the longer expected life span for retiring baby boomers to bring new challenges to the financial industry.