NISA manages portfolios for some of the largest institutional investors in the world. Client portfolios include investment-grade fixed income, derivative overlays and index-like equity investments. NISA is 100% employee-owned and is based in St. Louis, Missouri. Members of our experienced senior leadership team provide guidance for the firm through the Management Committee and Investment Committee. We employ over 250 people, approximately one quarter of whom have a participation interest in the firm.
Background and Founding
NISA’s founders, Jess Yawitz and Bill Marshall, began their careers as professors at Washington University in St. Louis, where they were early pioneers in research on fixed income investing and the concepts of interest rate risk management and immunization. After leaving academia to work on Wall Street, Jess and Bill returned to St. Louis, founding NISA Investment Advisors, LLC in 1994 as a firm focused on fixed income investing for large institutional investors.
Growth in Clients and Assets
Since its inception, NISA has maintained discipline regarding both clients and assets. Large, risk-controlled and liability-aware portfolios have been a mainstay since the company’s founding. Product expansion has generally been a direct result of client input.
We manage growth carefully, typically adding a limited number of new relationships each year. Fundamental to this discipline has been a continuous expansion of staff in advance of workload demands.
We anticipate a continuation of our measured growth, in terms of assets, clients and employees. From time to time we have discussions with clients regarding extending our investment style and approach to new products and markets (e.g., management of investment grade bond portfolios in non-US dollar regions), which will likely lead to a gradual expansion of investment products.
We believe our independence is a strength, and we have no current plans to affiliate with any other entity or change our ownership structure, other than a continued expansion of ownership among employees.
2018 Assets Under Management is as of 09/30/2018.
The data supplied by NISA are based on trade date and calculated according to NISA’s pricing policies. NISA maintains the data only for its portfolio management, guideline verification and performance calculation purposes and the data may differ from the recordkeeper. NISA does not provide pricing, recordkeeping, brokerage or any related services. You should compare and verify the information on this report with the information on the statement from the recordkeeper. A summary of NISA’s Pricing and Valuation policy is available upon request.