Nuveen ETFs Change Hands
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Thursday, May 30, 2002

Nuveen ETFs Change Hands

Gary Gastineau is hoping to drive the growth of exchange-traded funds through a New York City startup. The news comes less than a month after he left Nuveen Investments where he had headed that firm's ETF efforts after leaving the American Stock Exchange.

Gastineau is joining ETF Advisors where he will continue with developing four Fixed Income Trust Receipts products that had been initiated by him at Nuveen. The new firm will continue will pick up the filings on four Nuveen funds that had been undergoing review by the SEC since their submission more than a year ago.

The Nuveen name is being dropped from the filing and the Chicago fund firm is playing no role in ETF Advisors but it will receive payments based on the success of any funds resulting from the filings. The has not learned if any distributor has been tapped for the funds by the newly created firm.

The four funds were to track fixed income indices for one-, two-, five- and 10-year maturities.

Yesterday the SEC gave the go-ahead on similar filings for fixed-income ETFs made by Barclays Investors.

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