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 trillion of assets under management as of Mar 31, 2020. 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 peers in the future. Investors can click here to see the complete list of funds.
Nuveen Municipal Total Return Managed Accounts NMTRX aims to offer high current income that is exempted from regular federal income taxes. The fund invests the majority of 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 4.6%.
Martin J. Doyle is the fund manager of NMTRX since 2007.
Nuveen Strategic Income Fund Class A FCDDX aims to maximize total return. The fund invests majority of assets in income-producing securities. Its investments include U.S. government securities, residential and commercial mortgage-backed securities, fixed and floating rate loans, preferred securities and municipal securities, etc. FCDDX has three-year annualized returns of 3.9%.
FCDDX has an expense ratio of 0.85% compared with the category average of 1.01%.
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 fund may also invest a smaller portion of its assets in high yield bonds. FMOTX returned 3.7% over the past three years.
As of the end of May 2020, FMOTX held 346 issues, with 1.86% of its assets invested in MISSOURI ST DEV FIN BRD SOLID WASTE DISP REV 5.2%.
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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