Nuveen Investments, headquartered in Chicago, IL, was founded in 1898 by John Nuveen. The company aims to provide financial services to its clients using a multi-boutique structure. It provides these services through an independent team comprising Nuveen Asset Management, Winslow Capital and Symphony.
Nuveen is the number one farmland assets manager in the world and a leader in alternative investments. In its Multi-Asset Solutions, the company had $1.1 trillion of assets under management as of Jun 30, 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, viz.,Nuveen Preferred Securities & Income Fund NPSAX, Nuveen High Yield Municipal Bond Fund Class I NHMRX, Nuveen Louisiana Municipal Bond Fund Class I FTLRX. 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 invests most of its assets along with borrowings, if any, in preferred and other income-producing securities. NPSAX also invests a small portion of its net assets in financial services companies along with securities that are rated investment-grade or below investment grade.
Nuveen Preferred Securities & Income Fundhas three-year annualized returns of 2.3%. As of the end of March 2022, NPSAX had 65.03% of its assets invested in preferred stocks.
Nuveen High Yield Municipal Bond Fund Class I seeks high current income, which is exempted from regular federal income taxes along with the appreciation of capital by investing most of its assets along with borrowings, if any, in municipal bonds that pay interest that is exempted from regular federal personal income tax. NHMRX advisors also invest in lower-quality long-term municipal bonds using effective leverage through investments in inverse floaters.
Nuveen High Yield Municipal Bond Fund Class I has three-year annualized returns of 1.7%. NHMRX has an expense ratio of 0.52% compared with the category average of 0.92%.
Nuveen Louisiana Municipal Bond Fund Class I seeks a high level of interest income exempt from regular federal and Louisiana state income taxes along with capital preservation by investing most of its assets in investment-grade municipal bonds rated BBB/Baa or higher by an independent rating agency at the time of purchase. FTLRX may also invest a small portion of its net assets in below investment grade municipal bonds known as “high yield” or “junk” bonds.
Nuveen Louisiana Municipal Bond Fund Class I has three-year annualized returns of 1.0%. Steven M. Hlavin has been the fund manager of FTLRX since January 2011.
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.
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