Chicago-based Nuveen Investments said Wednesday it saw a 20% increase in assets under management from a year ago, as the company set a record for yearly income with $144 million.

Fourth-quarter profits were up seven cents from 35 cents last year to 42 cents a share this year. The increase was in line with analystsÂ’ estimates, which pegged earnings at 41 cents a share, according to Thomson Financial First Call.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.