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Money Management

Nuveen regroups quant, passive teams into single affiliate

Nuveen has launched Nuveen Quantitative Strategies, its 13th affiliate.

The new unit combines the company's current quantitative and passive management teams, which run $43 billion and $129 billion, respectively, in equity and fixed-income strategies, said company spokeswoman Mary Ellen Higgins.

Adam Cao, managing director, is head of Nuveen Quantitative Strategies. He was on the quantitative team and headed Nuveen's quantitative and indexed equity strategies.

All 19 members of the existing investment teams joined the new quantitative unit and remain in their respective offices in New York and San Francisco, Ms. Higgins said.

Nuveen Quantitative Strategies also will seek to develop external partnerships with academic institutions, she added.

"We created this new affiliate to better leverage artificial intelligence and other technologies as big data plays an increasingly important role as a positive disrupter in the asset-management industry," Nuveen CEO Vijay Advani said in a news release.

Nuveen managed a total of $988 billion as of Sept. 30.