The fund will be managed by Nuveen affiliate, Symphony Asset Management. The fund leverages Symphony’s catalyst-driven credit analysis to opportunistically invest in floating rate loans and other floating rate debt securities, to provide a high level of current income as well as capital appreciation.
Nuveen said in addition to investing in floating rate loans and other floating rate debt securities, the fund may also invest its assets in other securities, including fixed-rate, high-yield corporate bonds and convertible securities, as well as in investment-grade debt securities.
In addition, the fund may also use derivatives, including options, futures contracts, swap agreements, and interest rate derivatives to manage risk, convert fixed-rate securities to floating rate securities and/or to manage the duration of securities in the portfolio.
Gunther Stein will be responsible for overseeing Symphony’s fixed-income and equity investments.
Stein has over 25 years of investment and research experience and is actively involved with the management of the firm’s fixed-income products.
As co-portfolio manager for the fund, Scott Caraher will be a member of the Symphony fixed-income team and will be responsible for portfolio management and trading for Symphony’s bank loan strategies as well as credit and equity research for its fixed-income strategies.
Prior to joining Symphony in 2002, Caraher was an investment banking analyst in the industrial group at Deutsche Banc Alex Brown in New York.
