TIAA-Cref, a major US retirement provider in the academic sector, has begun a Ucits fund venture through its asset management arm.
TIAA-Cref’s fund management firm, TIAA-Cref Asset Management (TCAM), is to manage three funds for Nuveen Investments, a US manager that is making its portfolio of investments available to non-US investors.
Three Ucits funds have been launched for TCAM to manage through its subsidiary, Teachers Advisors.
The funds are launched under the Nuveen Global Investors Fund, a public limited company structured as a Ucits, and consist of two environmental, social and governance (ESG) funds – one for global equities and one for US bonds – and an emerging market debt strategy.
“Partnering with Nuveen on this joint product launch is an exciting stage for us as we seek to make our investment strategies more accessible to institutional and retail investors outside of the US market,” says John Panagakis, head of global asset management business development, at TIAA-Cref.
Margo Cook, head of strategy & multi-asset class solutions at Nuveen Investments, says: “Our partnership will allow us to expand our Ucits offerings into investment capabilities that clients are seeking. TIAA’s market leading ESG-focused strategies as well as emerging market debt are areas where clients in Europe and Asia are looking for diversification and compelling new opportunities.”
Nuveen Investments had about $230 billion (€202.5 billion), as of June 30. TCAM managed $639 billion at June 30, while TIAA-Cref is a national financial services organisation with $834 billion in assets under management, at October 30.
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