International Expertise for Income Generation, Alternatives and Responsible Investing

Nuveen expands Asia Pacific footprint leveraging its leadership position in income generation, alternatives and responsible investing to drive real investment impact.

Managing wealth has changed a lot in the past century. Investment manager Nuveen, founded in the United States in 1898, has evolved over the years in tandem with the financial goals of its clientele. In 2021, Nuveen acquired renewable energy fund manager Glennmont Partners and commercial property assessed clean energy financier Greenworks Lending. These initiatives confirm its commitment to environmental, social and governance (ESG) investment products to ensure sustainability.

Nuveen established its regional headquarters in Hong Kong in 2016 to tap into the opportunities in Asia Pacific and connect to the Mainland China market.

Leveraging Hong Kong’s Financial Services Expertise

Hong Kong was a natural choice for Nuveen to set up its regional headquarters. The office’s key business functions include distribution, investment and support such as legal and marketing. “Hong Kong is an international financial hub with a strong and knowledgeable client base, deep capital pool and deal flows,” said Kelvin Cheung, Managing Director, Head of Greater China, Nuveen. “It has a sophisticated and extensive system of targeted tax incentives designed to attract foreign investments. Its talent pool is well recognised in terms of qualifications, experience and diversity. Our experience in recruiting talent has been very positive and the candidates are strong and professional.”

Additionally, Hong Kong is viewed as a sound platform to capture opportunities out of Mainland China, being a global gateway to the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and the rest of the country. “With the launch of the Cross-boundary Wealth Management Connect Scheme in 2021, we expect more opportunities with institutional investors,” added Cheung.

ESG Investing Yields Better Results

In recent years, ESG has become an important element in investment analysis. “Responsible investing drives better outcomes for investors, our communities and the planet,” Cheung explained. “It is an integral part of our process. By embedding ESG factors into investment research, due diligence, portfolio construction and ongoing monitoring, we seek to improve clients’ long-term performance and reduce risk.”

The pandemic’s repercussions have not dampened Nuveen’s spirit, as the company quickly got up to speed with online business meetings and remote work. Indeed, the company assessed its practices and strategies in managing portfolios and daily operations, and hired 23 people between 2019 and 2021 in Hong Kong to support its Asia Pacific growth plan.

“We started partnering with InvestHK in 2019, and it has been actively reaching out to provide services and advice for our expansion,” noted Cheung. “We truly appreciate the connection — it has enriched our understanding of Hong Kong and the GBA, which is valuable for us to construct our regional strategy.”