Vijay Advani is creating a quant and passive shop with about $172 billion in AUM as Nuveen's [profile] 13th boutique. And they're looking for allies.

Adam Cao Nuveen Managing Director, Head of Quantitative and Index Portfolio Management

Yesterday Advani, CEO of Nuveen (TIAA's asset management arm), confirmed the launch of Nuveen Quantitative Strategies. The new affiliate is led by quant PM Adam Cao, managing director and head of quantitative and index portfolio management.

P&I also reported on the news.

To start with, Nuveen Quantitative Strategies pulls together Nuveen's existing New York- and San Francisco-based quantitative and index investing teams. The quant team works with about $43 billion, and the index team works with about $129 billion. Together, they account for more than 17 percent of Nuveen's $988 billion in AUM (as of September 30).

"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," Advani states.

Advani also hints that he'll be looking to boost the Nuveen Quantitative Strategies team via strategic alliances.

"We continue to invest in our people and technology so that we can offer client solutions that provide competitive returns as well as efficient market exposure," Advani states. "We'll also work closely with our parent firm, TIAA, whose heritage of providing retirement solutions to academic institutions can help us forge partnerships with universities to conduct research and further advance our capabilities." 

Edited by: Neil Anderson, Managing Editor


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