Travelers 2001 Annual Report Download - page 13

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The St. Paul Companies 2001 Annual Report 11
Nuveen contributes consistent, quality earnings to St. Paul results
The St. Paul’s 77 percent ownership of The John Nuveen Company has produced strong, dependable results year after year. Nuveen,
a premier investment management firm, marked its seventh consecutive year of record earnings in 2001. Nuveen’s solid performance
under all types of market conditions reflects the stability and quality of its assets, as well as the strength of its relationships with
financial advisors to high net worth investors and, increasingly, its institutional clients. At the heart of Nuveen’s success is a disciplined,
long-term investment philosophy, supported by an expanding range of investment expertise and premium brands.
Nuveen’s category-leading Rittenhouse team sets the standard for consultative sales and service in the rapidly growing retail
separate accounts market. Sales of its retail managed accounts increased nearly 40 percent last year.
Nuveen is experiencing similar success with its industry-leading syndicated product distribution. Responding to market
opportunities, Nuveen raised $4 billion in new municipal closed-end assets last year, representing half of the industry’s total. The recent
acquisition of Symphony Asset Management, specialists in institutional alternative investments, adds new expertise in market-neutral
investing and enhances Nuveen’s overall investment capability.
The John Nuveen Company markets its capabilities
under three distinct brands: Nuveen, a leader in
tax-free investments; Rittenhouse, a premier retail
managed account service platform; and Symphony,
a leading institutional manager of market-neutral
and other investment portfolios.