NEW YORK--(BUSINESS WIRE)--Eight Nuveen closed-end funds sub-advised by Symphony Asset Management announced portfolio management updates as part of an orderly leadership succession in which Gunther Stein has stepped down as Chief Investment Officer and Chief Executive Officer at Symphony Asset Management.
Symphony’s mandate for each fund will continue to be managed by the Symphony portfolio managers listed below who currently have investment management responsibility for these strategies. Mr. Stein, who has ceased all portfolio management activities but will remain at Symphony as Chairman through year end 2018, stressed that the investment philosophy, approach and day-to-day management of each mandate will remain unchanged.
“Symphony will continue to manage these mandates as we always have, through a team-based approach to rigorous fundamental research, valuation and risk analysis that we believe identifies value across the capital structure and delivers desirable portfolio outcomes,” said Mr. Stein. “The PMs now assuming sole responsibility for these funds have worked closely with me for over 15 years in driving all portfolio decisions.”
The funds affected, tickers and Portfolios Managers are:
- Nuveen Senior Income Fund (NSL): Scott Caraher
- Nuveen Floating Rate Income Fund (JFR): Scott Caraher
- Nuveen Floating Rate Income Opportunities Fund (JRO): Scott Caraher
- Nuveen Short Duration Credit Opportunities Fund (JSD): Scott Caraher, Jenny Rhee
- Nuveen Credit Strategies Income Fund (JQC): Sutanto Widjaja
- Nuveen Credit Opportunities 2022 Target Term Fund (JCO): Jenny Rhee, Scott Caraher
- Nuveen Diversified Dividend and Income Fund (JDD): Scott Caraher
- Nuveen Tax-Advantaged Total Return Strategy Fund (JTA): Scott Caraher
Symphony, an affiliate of Nuveen, applies a team-based approach to rigorous fundamental research and risk analysis across the corporate capital structure, identifying and translating relative value into desired risk-reward outcomes. For more information, please visit www.symphonyasset.com.
Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $973 billion in assets under management as of 6/30/18 and operations in 16 countries. Its affiliates offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.
Nuveen Securities, LLC, member FINRA and SIPC.
The information contained on the Nuveen website is not a part of this press release.