Daily ETF Watch: Nuveen Plans Index Funds

Nuveen Investments files for index-based ETFs in follow-up to previous 40-APP.

Reviewed by: Heather Bell
Edited by: Heather Bell

Nuveen Investments, a subsidiary of TIAA-CREF, with $230 billion under management, has filed an exemptive relief request with the Securities & Exchange Commission that asks for permission to launch index-based ETFs.

The firm is primarily known for its actively managed strategies, but it does manage six municipal bond ETFs for State Street Global Advisors that are based on Barclays indexes. It filed an exemptive relief request for transparent, actively managed ETFs back in February, but has yet to put any funds into registration.

The latest filing is a fairly standard 40-APP that hits all the points usually covered in a request for permission to launch index-based ETFs, including mention of self-indexed funds, funds of funds and use of a master-feeder structure. The funds could invest in domestic or foreign fixed-income or equity securities.

The filing mentions the Nuveen Large Cap Equity Index ETF as the initial fund to be launched under the relief request, but the filing does not describe the underlying index or its methodology.

Contact Heather Bell at [email protected].

Heather Bell is a former managing editor of etf.com. She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a graduate of Dartmouth college and resides in the Denver area with her two dogs.