US-based asset manager Nuveen has launched a trio of funds for UK retail investors.
The vehicles will be managed by US firm TIAA-CREF Asset Management (TCAM), which is owned by pension scheme the Teachers Insurance and Annuity Association of America-College Retirement Equities Fund.
Nuveen was acquired by TIAA-CREF last year in a $6.3bn deal. The latter has $800bn in assets under management.
The three new funds, offered by Nuveen Global Investors through a Ucits structure, are the TIAA Global Equity ESG strategy, the TIAA US Bond ESG strategy and the TIAA Emerging Market Debt strategy.
TCAM said the two ESG (environmental, social and governance) funds would give special consideration to the impact their investments have on communities, customers, suppliers and the environment.
The ESG evaluation process is conducted on an industry-specific basis and involves the identification of key performance indicators, according to the TCAM prospectus.
Meanwhile, the debt fund is permitted to use a variety of investment techniques and financial derivative instruments. These include futures contracts, forward contracts, options, swaps and forward foreign exchange transactions.
The minimum investment in the three funds for UK retail investors will be £5,000.
The investment management fees for Class A shares are 1.25 per cent, 1.1 per cent and 1.25 per cent for the Emerging Market Debt fund, the Global Equity ESG fund and the US Bond ESG fund, respectively.
