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Separately Managed Accounts

Tax Advantaged Large Cap

Brooklyn Investment Group*
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Strategy description

Tax Advantaged Large Cap is an equity direct indexing strategy designed to closely mirror the performance of a specific stock market or custom index on a pre-tax basis while seeking to outperform it on an after-tax basis. The strategy applies portfolio optimization designed to harvest tax losses, accommodate individualized customizations and adhere to clients’ desired portfolio characteristics.


Asset class: Equities

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



Potential benchmarks1 CRSP U.S. Large Cap
NASDAQ-Brooklyn Large Cap ADR
Morningstar Global Large Cap ADR1
Russell 10001
S&P 5001
Customization capabilities Tax preferences
Concentrated positions
Investment restrictions
ESG exclusions
Permitted investments Listed U.S. equities
Industry exposure In-line with respective index chosen
Expected issuer exposure No stated exposure limits
Similar to underlying index
Custom process graphic

Applying portfolio personalization options

Concentration Investment ESG
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 goals2 Identify exclusions based on specific environmental, social, and governance (ESG) practices and outcomes
Tax rates
• State
• Federal
Active tax-loss harvesting preferences
Concentrated positions
• Tax-neutral sell-down
• Manage around current position
• Chemicals
• Media
• Materials
• Consumer discretionary
Individual security
• Tobacco
• Firearms
• Alcohol
• Cannabis
• Gambling



1 Indices available at an additional cost.
2 Restrictions or exclusions, if applicable, are applied solely at the discretion of the client.

Not all customization options are available at all firms. Please check with your firm for availability.

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.

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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