Chicago-based John Nuveen & Co. last week unveiled a mutual fund, which will be managed by its Rittenhouse Financial Services subsidiary.
The Nuveen Rittenhouse Growth Fund is an equity portfolio designed for investors seeking a high-quality, tax-efficient way to build and sustain wealth. It invests in established blue-chip companies, the firm said.
The fund is the first Nuveen portfolio to be managed by Rittenhouse, the Radnor, Pa.-based equity management firm acquired by Nuveen in September for $145 million. Nuveen bought Rittenhouse for the firm's institutional expertise, said a company spokesman.
The new portfolio will hold companies like Procter & Gamble, General Electric, Johnson & Johnson, Gillette, and Colgate Palmolive.