Nuveen Investments has launched two new dividend-focused funds.

Both Nuveen Santa Barbara Global Dividend Growth Fund (NUGAX) and Nuveen Santa Barbara International Dividend Growth Fund (NUIAX) seek out companies across the world that pay and have the ability to maintain their dividends on a long-term basis. They will be managed by Nuveen's dividend-focused growth equities manager, Santa Barbara Asset Management.

Both will be managed by Santa Barbara chief investment officer James Boothe.

Nuveen managed $219 billion as of Dec. 31, 2012. Santa Barbara managed $5.2 billion on behalf of retail and institutional investors as of Dec. 31, 2012.