The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Nuveen Cracks the Top 40 with its FAF Deal Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, July 29, 2010

Nuveen Cracks the Top 40 with its FAF Deal

Reported by Armie Margaret Lee

Nuveen Investments' purchase of the long-term asset management business of FAF Advisors would create a combined mutual fund family with total AUM of $40.7 billion. (See related coverage on The MFWire: "A Midwest Fund Firm is Sold" and "How Much is Nuveen Paying for FAF?")

Nuveen's mutual fund AUM at the end of June was $23.5 billion, while FAF had $17.2 billion, according to Nuveen's investor presentation.

The deal would make Nuveen the 37th largest mutual fund player, according to the Financial Research Corp. FRC data show that as of end-May, Nuveen ranked 55th among mutual fund firms with $23.4 billion of long-term assets. For its part, FAF was No. 65, with $16.1 billion.

Nuveen currently offers more than 60 mutual funds, while FAF has 41 in its roster.

FAF employees joining Nuveen will become part of Nuveen Asset Management.

"Products managed by the investment teams within Nuveen Asset Management will be offered under the Nuveen brand name and possibly, for legacy First American Funds, the Nuveen FAF brand name," according to a news release issued by Nuveen Thursday.  

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use