Nuveen Investments has reopened its Tradewinds Global All-Cap Fund and Tradewinds Value Opportunities fund to new investors.

The funds, which have been closed to new investors since August 2011, have suffered redemptions in the wake of the resignation of David Iben, the firm's co-president, chief investment officer, who left the firm to join hedge fund Vinik Asset Management.

The 4-Star funds recently received negative ratings from Morningstar analysts, who wrote that Iben’s departure followed by other fund personnel “are a major loss for the fund and the firm… Unfortunately, there is no natural successor at this fund or within the firm.”

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