Nuveen Investments, headquartered in Chicago, IL, was founded in 1898 by John Nuveen. The company seeks to provide financial services to its clients by using the multi-boutique structure. It provides these services through an independent team comprising Nuveen Asset Management, Winslow Capital and Symphony.
The company is the number one farmland assets manager in the world and a leader in alternative investments. In its Multi-Asset Solutions, the company had $1.2 trillion of assets under management as of Mar 31, 2021. Nuveen offers a wide range of asset classes and products ranging from equity and alternative funds, to municipal and taxable fixed-income bond funds.
Below we share with you three top-ranked Nuveen mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of funds.
Nuveen Missouri Municipal Bond Fund Class A FMOTX aims to offer a high level of current interest income that is exempted from regular federal, Missouri State and, in some cases, Missouri local income taxes, and is on par with capital preservation. The fund invests the majority of its assets in investment grade municipal bonds that are rated BBB/Baa or higher at the time of purchase by at least one independent rating agency or judged similarly by the fund’s adviser. The product may also invest a smaller portion of its assets in high-yield bonds. FMOTX has returned 4.6% over the past three years.
Christopher L. Drahn is the fund manager of FMOTX since 2011.
Nuveen All-American Municipal Bond Fund Class A FLAAX invests the lion’s share of its assets in municipal debt securities that are free from federal personal income tax. These muni bonds are rated Baa/BBB or higher. FLAAX may also invest around one-fifth of its assets in “junk” or high yield bonds. The fund seeks tax-exempted income. It has three-year annualized returns of 5.9%.
FLAAX has an expense ratio of 0.70% compared with the category average of 0.73%.
Nuveen Municipal Total Return Managed Accounts NMTRX aims to offer a high current income that is exempted from regular federal income taxes. The fund invests the majority of its assets in tax-free municipal bonds. It may also invest about half of its assets in below- investment-grade municipal bonds. NMTRX has three-year annualized returns of 5.9%.
As of the end of June 2021, NMTRX held 988 issues, with 0.78% of its assets invested in HILLSBOROUGH CNTY FLA INDL DEV AUTH HOSP REV 4%.
To view the Zacks Rank and past performance of all Nuveen mutual funds, investors can click here to see the complete list of funds.
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