Nuveen Investments reported net income in 2005 of $171.2 million, a 9% increase over the prior year. Fourth-quarter net income, however, remained flat from the earlier period, at $43.5 million.
Meanwhile, total assets under management increased to $136 billion as of Dec. 31, up 18% from $115 billion a year earlier. Of that, $14 billion came from new net inflows. Another $4 billion was from appreciation in the market, and the final $3 billion was due to the firm's acquisition of Santa Barbara Asset Management in October. Nuveen's fee revenue growth paralleled that increase in assets by also rising 18% in 2005.