Top 3 Nuveen Mutual Funds for Stable Returns

view original post

With $1.2 trillion in assets under management as of Mar 31, 2022, Nuveen, LLC is a wholly-owned subsidiary of Teachers Insurance and Annuity Association of America. It manages a wide range of mutual funds, including both equity and fixed-income funds, and domestic and foreign funds. Founded in 1898 by John Nuveen, the company currently has more than $478 billion of assets invested in fixed income bonds.

Nuveen manages assets across a wide range of asset classes and products. Also, Nuveen offers financial services to its clients by using a multi-boutique structure. The company provides these services through its independent team, comprising Nuveen Asset Management, Winslow Capital, and Symphony.

Below, we share with you three top-ranked Nuveen mutual funds, viz., Nuveen Preferred Securities & Income Fund Class I NPSRX, Nuveen Short Duration High Yield Municipal Bond Fund Class A NVHAX, Nuveen Limited Term Municipal Bond Fund Class I FLTRX. Each has 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 Nuveen mutual funds.

Nuveen Preferred Securities & Income Fund Class I seeks a high level of current income along with total return by investing most of its assets along with borrowings, if any, in investment grade preferred securities and other income-producing securities. NPSRX also invests a small portion of its net assets in securities of companies principally engaged in financial services.

Nuveen Preferred Securities & Income Fund Class I has three-year annualized returns of 1.6%. As of the end of March 2022, NPSRX has 65.03% of its assets invested in Preferred Stocks.

Nuveen Short Duration High Yield Municipal Bond Fund Class A seeks high current income which is exempted from federal income taxes along with capital appreciation by investing most of its assets along with borrowings, if any, in municipal bonds that pay interest that is exempt from regular federal personal income tax. NVHAX advisors maintain an investment portfolio with a weighted average effective duration of less than 4.5 years

Nuveen Short Duration High Yield Municipal Bond Fund Class A has three-year annualized returns of 0.4%. NVHAX has an expense ratio of 0.75% compared with the category average of 0.92%.

Nuveen Limited Term Municipal Bond Fund Class I seeks current interest income, which is exempted from federal income taxes along with preservation of capital appreciation by investing most of its assets along with borrowings if any in investment grade municipal bonds rated BBB/Baa or higher municipal bonds that pay interest that is exempt from regular federal personal income tax. FLTRX also invests a small portion of its net assets in below investment grade municipal bonds or junk bonds.

Nuveen Limited Term Municipal Bond Fund Class I fund has three-year annualized returns of 0.4%. Paul L. Brennan has been one of the fund managers of FLTRX since August 2006.

To view the Zacks Rank and the past performance of all Nuveen mutual funds, investors can click here to see the complete list of Nuveen mutual funds.

Want key mutual fund info delivered straight to your inbox?

Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >>

View All Zacks #1 Ranked Mutual Funds
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Get Your Free (FLTRX): Fund Analysis Report
 
Get Your Free (NVHAX): Fund Analysis Report
 
Get Your Free (NPSRX): Fund Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Related Posts