Nuveen Investments is planning to gather more assets through launching its third retail loan fund. According to a spokeswoman, Nuveen is capitalizing on interest from investors concerned about interest-rate risk. The first loan fund was launched in October 1999 and has a total of $407 million. The second was launched last March and has just over $1 billion in assets. She said the size of the third will depend on the success of the launch.
The bank loan team is led by Gunther Stein and Lenny Mason at Symphony Asset Management. The money manager was bought in 2001 by Nuveen and the fixed-income managers took over responsibility for Nuveen’s bank loan product. Jeff Maillet, who launched Nuveen’s first fund, was the previous manager. Nuveen also has bank loan assets in institutional accounts and hedge funds.