TIAA's $929 Billion Nuveen Arm Explores Illiquid-Asset ETFs
- Asset manager considering ETFs that feature alternatives
- Nuveen betting securities to outshine mutual funds’ appeal
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TIAA’s $929 billion asset manager, Nuveen, is considering ways to create exchange-traded funds that feature illiquid assets, betting the securities will overtake mutual funds as investment vehicles of choice among investors.
The New York-based firm, which oversees about $200 billion in alternative assets such as agriculture, commodities and timber, is exploring how it can repackage some of its less liquid investment strategies into ETFs, said Margo Cook, President of Nuveen Advisory Services. The idea is part of a wider push to deepen the firm’s offerings across income-generating assets, responsible investing and alternatives, she said.