Schroder GAIA Nuveen US Equity Funds

Schroders has partnered with Nuveen to offer two strategies that capitalise on their long track record and unique investment approach

Schroder GAIA Nuveen US Equity Long Short and Schroder GAIA Nuveen US Equity Market Neutral strategies are UCITS compliant, offering daily liquidity. Both focus on mid- to large-cap US equities using the Russell 1000 Index as the investment universe, taking long short, and market-neutral approaches, respectively

Investment highlights

  • The funds are UCITS versions of two existing US equity hedge fund strategies that are currently managed by Nuveen Asset Management in US Mutual Fund 40 Act form. Both strategies launched in the first half 2013 and have a track record of over six years and a combined assets under management of over $1.0 billion1
  • Both funds will hold long and short positions in large-cap stocks of US companies from the Russell 1000 universe.
  • Highly diversified portfolios will be scalable and liquid
  • The funds offer daily liquidity with a flat fee structure and no performance fee
  • Both funds follow the same investment philosophy, providing access to Nuveen’s most experienced and best hedge fund talent investing in the Russell 1000 universe.
  • A team of ten fundamental (qualitative) analysts and three quantitative analysts generate ideas and make recommendations for all stocks in the Russell 1000, which are then evaluated by the two dedicated portfolio managers

Who is Nuveen?

Nuveen Asset Management was founded in Chicago, Illinois in 1898. Acquired in 2014 by Teachers Insurance and Annuity Association (TIAA), one of the world’s largest pension providers, today Nuveen manages over $900 billion of assets2. It is the largest farmland manager in the world3 and a top five real estate investment manager globally4.

Nuveen employs around 2,900 of whom 85% are in the US. The equities division is based in Minneapolis.

Fund characteristics

 

   

US Equity Market Neutral

US Equity Long Short

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Long and short exposure

Long: 75% to 100%

Short: 70% to 90%

Long: 145% to 160%

Short: 75% to 85%

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Net and gross

Net: 0% to +20%

Gross: 140% to 190%

Net: +60% to +80%

Gross: 220% to 240%

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Number of longs and shorts

95-115 Longs

95-115 Shorts

120 Longs

110 Shorts

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Position size

Longs: 0.7% to 1.2%

Shorts: 0.6% to 1.1%

Longs: 1.2%

Shorts: 0.7%

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Sector exposure

Typically limited to

 +/- 10%

Typically limited to

+/- 10%

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Regional split

100% US

100% US

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Market cap

Large/mid cap

(Russell 1000)

Large/mid cap

(Russell 1000)

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More information

Client Proposition

Fund Focus

Client Proposition

Fund Focus

 

 

Prices & Performance >

Prices & Performance >

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Robert C. Doll, CFA

Nuveen Asset Management
Senior Portfolio Manager
Chief Equity Strategist

Meet the manager

Bob is a senior portfolio manager and chief equity strategist at Nuveen Asset Management. Bob manages seven portfolios, including large caps and alternatives. He is a highly-respected authority on the equities markets among investors, advisors and the media.

Prior to joining Nuveen Asset Management, Bob held similar roles at other large asset management firms, including serving as chief equity strategist at Blackrock, president and chief investment officer of Merrill Lynch Investment Managers and chief investment officer of Oppenheimer Funds, Inc.

Bob earned a B.S. in accounting and a B.A. in economics from Lehigh University and an M.B.A. from the Wharton School of the University of Pennsylvania. He is a Certified Public Accountant and holds the Chartered Financial Analyst designation from the CFA Institute.

1Source: Nuveen Asset Management as at 31 August 2019.
2See note 1 above.
3ANREV/INREV/NCREIF Fund Manager Survey 2018. Survey illustrated rankings of 162 fund managers globally by AUM as at 31 Dec 2017.
4Pensions & Investments, 01 Oct 2018. Rankings based on institutional tax-exempt assets under management as of 30 June 2018 reported by each responding asset manager.

Risk Considerations

A failure of a deposit institution or an issuer of a money market instrument could create losses.

Equity prices fluctuate daily, based on many factors including general, economic, industry or company news.

The fund uses derivatives for leverage, which makes it more sensitive to certain market or interest rate movements and may cause above-average volatility and risk of loss.

A derivative may not perform as expected, and may create losses greater than the cost of the derivative.

The counterparty to a derivative or other contractual agreement or synthetic financial product could become unable to honour its commitments to the fund, potentially creating a partial or total loss for the fund.

In difficult market conditions, the fund may not be able to sell a security for full value or at all. This could affect performance and could cause the fund to defer or suspend redemptions of its shares.

Failures of service providers could lead to disruptions of fund operations or losses.

The fund may take positions that seek to profit if the price of a security falls. A large rise in the price of the security may cause large losses.

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