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Thursday, July 5, 2018

The Three Main Strands of Nuveen's ETF Push

Reported by Neil Anderson, Managing Editor

When it comes to ETF product development at Nuveen [profile], watch for "three main strands," says Martin Kremenstein: ESG, fixed income, and liquid alternatives (which correspond to "three main pillars" across all of Nuveen). Yet he may extend Nuveen's ETF reach down the line.

"You do need to have an evolutionary mindset about product development, certainly in the ETF space," Kremenstein, senior managing director and head of retirement products and ETFs, tells MFWire. "We started where we as an asset manager are particularly strong."

Kremenstein's product team includes three people on the retirement side and four on the ETF side, and he does plan to expand the team, though not rapidly.

"We're not massively staffing up, partly because we have a very, very good infrastructure within Nuveen to leverage," Kremenstein says. "Over time we do plan to build out the team."

Nuveen's NuShares ETF business now includes 11 funds with about $500 million in combined AUM. Expect further launches.

"We're not going to saturate the market with products," Kremenstein says. Yet he adds that Nuveen is "definitely not done yet with [its] build out of products."

Watch for new Nuveen ETFs across all three aforementioned pillars.

"All three areas are not particularly well-covered in the ETF market at the moment," Kremenstein says. "There's still pretty big gaps in the market."

ESG in particular is ripe for more development, he adds.

"It has been getting decent asset growth. We're seeing good flow into our product and good pickup from our client base as well," Kremenstein says. "The time is right for ESG to enter the mainstream and gain real pickup, particularly in the ETF space." 

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