Nuveen prepares for exit of Iben, Crespo and Padilla from Tradewinds

By Toni Weeks

San Diego, March 16 - Nuveen Fund Advisors, Inc. announced that David Iben, Alberto Jimenez Crespo and Gregory Padilla will depart from Tradewinds Global Investors, LLC in the latter part of the second quarter of 2012, according to a 497 filing with the Securities and Exchange Commission. The Los Angeles-based Tradewinds is the investment subadviser to several Nuveen funds.

Their upcoming departure has initiated a rash of portfolio management changes among several Nuveen funds. All of the changes are effective April 1.

Joann Barry and F. Rowe Michels have been named portfolio managers of the Nuveen Tradewinds Value Opportunities Fund. Iben will no longer serve as portfolio manager of the fund.

Emily Alejos and Andrew Thelen have been named portfolio managers of the Nuveen Tradewinds Global All-Cap Fund. Iben will no longer manage the fund.

Ariane Mahler has been named a portfolio manager of the Nuveen Tradewinds Global Flexible Allocation Fund. She will join Michael Hart, who is a portfolio manager to the fund. Iben and Isabel Satra will no longer serve as portfolio managers of the fund.

New portfolio managers will soon be announced for the Nuveen Tradewinds Global Resources Fund upon the departure of Iben, Crespo and Padilla.

Crespo will no longer serve as a portfolio manager of the Nuveen Tradewinds International Value Fund. Peter Boardman will continue to serve as a portfolio manager of the fund.

The filing also noted that the Nuveen Tradewinds Global All-Cap Plus Fund is closed to new investments, effective immediately. Iben has been the portfolio manager of this fund.

Chicago-based Nuveen Fund Advisors serves as investment adviser to the funds.

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