Nuveen Real Asset Income and Growth Stock Price, News & Analysis

Nuveen, TIAA's investment manager, launches a new High Income Municipal SMA to expand its separately managed account platform. This strategic addition allows investors to access high-yield exposure across Nuveen's extensive $200 billion municipal platform, which includes various investment vehicles like mutual funds, closed-end funds, ETFs, and more.

The new strategy invests in both non-investment grade and investment grade tax-exempt bonds, with a portfolio allocation of minimum 40% to investment grade bonds and up to 60% in high income bonds. This launch follows Nuveen's January 2025 introduction of two actively-managed muni ETFs.

Led by portfolio managers Martin J. Doyle and Patrick R. Maher, the strategy aims to generate higher levels of tax-free income in the $1.6 trillion muni SMA market, which has traditionally focused on high-grade strategies. The new SMA uses the Bloomberg Municipal Bond Index as its benchmark and leverages Nuveen's specialized credit research team to deliver enhanced total return potential with tax benefits.

Nuveen Real Estate has secured a $166.6 million investment allocation for self-storage assets across the United States, comprising $150 million from the California State Teachers' Retirement System (CalSTRS) and $16.6 million from the TIAA General Account. The strategy focuses on acquiring and developing self-storage assets in markets with strong demographics and institutional ownership.

MyPlace Self-Storage, led by industry veteran Kurt O'Brien, will serve as the dedicated operating partner. The company has previously partnered with Nuveen since 2022, acquiring over $300 million in assets across more than a dozen states. Nuveen Real Estate, managing $141 billion in real estate assets, has been investing in self-storage since 2003 and currently oversees $2.7 billion in self-storage assets across more than 170 facilities nationwide.

Nuveen's fifth annual EQuilibrium Global Institutional Investor Survey reveals significant shifts in institutional investment strategies, based on responses from 800 institutions managing $19 trillion in assets. 66% of investors plan to increase private asset allocations over the next five years, with over 90% now holding both private equity and private credit, up from 45% in 2021.

The survey highlights three key trends: renewed interest in real estate cycles, expanded role of private markets in portfolios, and increased focus on impact investing among insurers. Private infrastructure and real estate saw the largest year-over-year increases in allocation plans, rising to 50% and 37% respectively in 2025. Notably, 65% of investors planning to increase real estate allocations are focusing on digital infrastructure, particularly data centers.

In the environmental sector, 73% of respondents acknowledge the need for both traditional and renewable energy sources. While 44% have net zero commitments and 25% plan to implement them within 12 months, 45% identify nature loss as a top economic risk, though only 30% are increasing their focus on nature-related themes.

Nuveen announced that CalPERS is expanding its commitment to Nuveen Real Estate's affordable housing strategy with an additional $400 million allocation. This follows CalPERS' previous $100 million investment in the Nuveen Real Estate U.S. Affordable Housing Fund in June 2024, bringing the total commitment to $500 million. Nuveen's affordable housing portfolio currently includes over 32,000 housing units across the U.S., valued at over $6 billion. The investment aims to preserve access to affordable housing while implementing environmentally sustainable improvements.