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Separately Managed Accounts

Tax Advantaged Balanced

Nuveen
Brooklyn Investment Group*
Black and white spiral building and a cloudy blue sky

Strategy description

Tax advantaged balanced account combines an equity direct indexing portfolio with a municipal bond portfolio that gives investors exposure to both equity and fixed income markets in a comprehensively managed, single custodian account. Clients can customize their target allocation for the equity and fixed income portions of the account. The ability to tax-loss harvest specific bonds gives investors flexibility to realize tax losses while staying within their desired portfolio characteristics.

 

Asset class: Municipals and equities

For term definitions and index descriptions, please access the glossary in the footer.

Highlights

                                         At-a-glance

 
Investment options1 EQUITIES BENCHMARKS
CRSP U.S. Large Cap
NASDAQ-Brooklyn Large Cap ADR
Morningstar Global Large Cap ADR1
Russell 10001
S&P 5001
MUNICIPAL BOND STRATEGIES2
Limited Maturity
Intermediate High-Quality
Intermediate ESG
Long Term
Ladders (1-7, 1-10, 1-15, 5-15, 10-25)
Customization
capabilities
Tax preferences
Concentrated positions
Investment restrictions
ESG exclusions
State specific, State preference, National
Duration, Maturity
Credit quality
AMT
Permitted
investments
Listed U.S. equities
ADRs
ETFs
Individual tax-exempt municipal bonds
Industry exposure In-line with respective index chosen Diversified portfolio across multiple sectors
Expected issuer
exposure
No stated exposure limits
Similar to underlying index
 Dependent on account size
Custom process graphic

Applying portfolio personalization options

 
Tax 
Concentration Investment ESG Municipal
Apply tax preferences based on client needs, or to help address complex tax situations Manage clients' concentrated positions Restrict specific issuers, securities, industries or sectors to align with specific client portfolio goals3 Identify exclusions based on specific environmental, social, and governance (ESG) practices and outcomes Select municipal bond characteristics based on client's preferences
Tax rates
• State
• Federal
Active tax-loss harvesting preferences 
Concentrated positions 
• Tax-neutral sell-down
• Manage around current position
Industry
• Chemicals
• Media
Sector
• Materials
• Consumer discretionary

Individual security

ESG
• Tobacco
• Firearms
• Alcohol
• Cannabis
• Gambling

Municipal
• State specific, State preference, National
• Duration, Maturity
• Credit quality
• AMT

Resources

Footnotes:

1 Indices available at an additional cost.
2 Nuveen municipal strategies respective benchmarks: Bloomberg Inter/Short (1-10) Municipal Bond Index: Limited Maturity; Bloomberg 3-15 Year Blend (2-17) Municipal Bond Index: Intermediate High-Quality and Intermediate ESG; Bloomberg Municipal Bond: Long Term; Bloomberg Managed Money Short Term Index: Ladder (1-7); Bloomberg Municipal Managed Money Short/Intermediate (1-10 Year) Index: Ladder (1-10); Bloomberg Municipal Managed Money Intermediate (1-17 Year) Index: Ladder (1-15); Bloomberg Municipal Managed Money Short/Intermediate (1-10 Year) Index: Ladders (1-10) and (5-15); Bloomberg Municipal Managed Money Long Index: Ladder (10-25)
3 Restrictions or exclusions, if applicable, are applied solely at the discretion of the client.

A separately managed account (SMA) is a private portfolio of actively managed, individual securities that may be customized to achieve an individual investor's unique objectives.

Please consult with your Nuveen Advisor Consultant for applicable minimums.

Check with your financial professional for specific product availability and performance information. This information may change without notice. From time to time, we may close or reopen strategies.

You cannot invest directly in any index.  Index returns do not reflect a deduction for fees or expenses.

The S&P 500 Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and has been licensed for use by Skopos Labs, Inc. and its affiliate, Brooklyn Investment Group, LLC. S&P®, S&P 500®, US 500, The 500, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Skopos Labs, Inc. and its affiliate, Brooklyn Investment Group, LLC. Licensee's Product(s) are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

Important information on risk

All investments carry a certain degree of risk, including possible loss of principal, and there is no assurance that an investment will provide positive performance over any period of time. It is important to review investment objectives, risk tolerance, tax liability and liquidity needs before choosing an investment style or manager. 

Equity investments are subject to market risk or the risk that stocks will decline in response to such factors as adverse company news or industry developments or a general economic decline. Investments in foreign securities are subject to special risks, including currency fluctuation and political and economic instability. These risks are often heightened for investments in emerging markets.

Debt or fixed income securities are subject to market risk, credit risk, interest rate risk, call risk, and income risk. As interest rates rise, bond prices fall. Below investment grade or high yield debt securities are subject to liquidity risk and heightened credit risk. Investments in mortgage-backed and asset-backed securities are subject to prepayment risks. There is no assurance that the private guarantors or insurers will meet their obligations.

An investment in any municipal portfolio should be made with an understanding of the risks involved in investing in municipal bonds, such as interest rate risk, credit risk, and market risk. The value of the portfolio will fluctuate based on the value of the underlying securities. Please contact a tax professional regarding the suitability of tax-exempt investments in your portfolio. Nuveen Asset Management is not a tax professional. If sold prior to maturity, municipal securities are subject to gain/losses based on the level of interest rates, market conditions and the credit quality of the issuer. Income may be subject to the alternative minimum tax (AMT) and/or state and local taxes, based on the investor’s state of residence. Income from municipal bonds held by a portfolio could be declared taxable because of unfavorable changes in tax laws, adverse interpretations by the Internal Revenue Service or state tax authorities, or noncompliant conduct of a bond issuer. Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.

Impact investing and/or Environmental, Social and Governance (ESG) managers may take into consideration factors beyond traditional financial information to select securities, which could result in relative investment performance deviating from other strategies or broad market benchmarks, depending on whether such sectors or investments are in or out of favor in the market. Further, ESG strategies may rely on certain values based criteria to eliminate exposures found in similar strategies or broad market benchmarks, which could also result in relative investment performance deviating.

Tracking Error Risk: Tracking error risk refers to the risk that the performance of a client portfolio may not match or correlate to that of the index it attempts to track, either on a daily or aggregate basis. Factors such as fees and trading expenses, client-imposed restrictions, tax-loss harvesting, imperfect correlation between the portfolio’s investments and the index, changes to the composition of the index, regulatory policies, and high portfolio turnover all contribute to tracking error. Tracking error risk may cause the performance of a client portfolio to be less or more than expected.

Tax-Managed Investing Risk: Investment strategies that seek to enhance after-tax performance may be unable to fully realize strategic gains or harvest losses due to various factors.  Any reduction in taxes will depend on an investor’s specific tax situation.  Market conditions may limit the ability to generate tax losses. A tax-managed strategy may cause a client portfolio to hold a security in order to achieve more favorable tax treatment or to sell a security in order to create tax losses. A tax loss realized by a U.S. investor after selling a security will be negated if the investor purchases the security within thirty days.  Although portfolio managers can seek to avoid such a “wash sales” and temporarily restrict securities sold at a loss within the same portfolio, a wash sale can inadvertently occur for a variety of factors, including trading in other accounts, including accounts managed by the same investment adviser, client-directed activity and account contributions, withdrawals or rebalancing.  Investment strategies that employ tax-loss harvesting also involve the risk that a replacement investment could perform worse than the original investment and that such factor, as well as transaction costs, could offset any potential tax benefit.  Investors should discuss the implications of tax-managed strategies with their tax advisor. 

Model and Quantitative Risks: Certain strategies, such as direct indexing, use proprietary quantitative tools to assist portfolio managers in making investment decisions. If these tools have errors or are flawed or incomplete and such issues are not identified, it may have an adverse effect client investment performance.

Key Personal. The success of Brooklyn's operation is highly dependent on the work of certain key personnel.

Disclosure Limitations. The foregoing list of risks does not purport to be a complete enumeration or explanation of the risks involved in investing through the Brooklyn platform.

Nuveen Asset Management, LLC is a registered investment adviser and an affiliate of Nuveen, LLC.

* Nuveen Asset Management, LLC (Nuveen) has retained Brooklyn Investment Group, LLC (Brooklyn) as the investment sub-adviser to the strategies. Nuveen Asset Management, LLC is not affiliated with Brooklyn Investment Group, LLC. Nuveen's parent TIAA has a non-controlling, non-equity investment in Brooklyn. 

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