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Rating:Will Doll Deliver For Nuveen? Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, July 09, 2013

Will Doll Deliver For Nuveen?

News summary by MFWire's editors

Nuveen Investments executives are counting on chief equity portfolio manager Bob Doll to expand its product line and better position the company for an IPO, Pension & Investments' Randy Diamond wrote. Doll launched a total of eight equity mutual funds and institutional strategies by Nuveen Asset Management [profile].

Doll was a senior managing director and chief equity strategist at BlackRock before coming to Nuveen in November of last year. Nuveen president William Huffman hopes that Doll's name can attract investors to its funds.

Nuveen is still trying to get out from under its debt, which is rated as junk by the major bond rating services. Nuveen lost $571 million in 2012 as a result of fee losses from net outflows and interest on its debt. Now the firm hopes to rebrand itself with the help of Doll. Doll says he wanted to join an established firm where he could be most effective, but he doesn't guarantee wild success at Nuveen:
He acknowledged there are no guarantees, saying he will need a combination of rising equity markets, successful stock selection and good distribution to achieve success. “If we connect on all three cylinders, we will raise billions of dollars, and if we don't connect on any of them, we won't raise much at all,” he said.
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Edited by: Casey Quinlan


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