U.S. Markets closed

3 Nuveen Mutual Funds for Stellar Returns

Zacks Equity Research

Nuveen Investments, headquartered in Chicago, IL, was founded in 1898 by John Nuveen. The company seeks to provide financial services to 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 leading leader in alternative investments. In its Multi-Asset Solutions, the company had $1 trillion of assets under management as of Sep 30, 2019. 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 Strategic Income Fund Class A FCDDX aims for maximizing total return. The fund invests the majority of its 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 4.7%.

FCDDX has an expense ratio of 0.85% compared with the category average of 1.02%.

Nuveen Municipal Total Return Managed Accounts NMTRX aims to offer high current income that is exempted from regular federal income taxes. The fund invests 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 5.8%.

Martin J. Doyle is the fund manager of NMTRX since 2007.

Nuveen California High Yield Municipal Bond Fund Class A NCHAX invests a large chunk of its assets in debt securities issued by municipal bodies that are expected to provide return free from regular federal and California personal income tax. NCHAX seeks a high level of tax-exempted current income. NCHAX has three-year annualized returns of 7.2%.

As of November 2019, NCHAX held 685 issues, with 1.41% of its assets invested in PUERTO RICO SALES TAX FING CORP SALES TAX REV 5%.

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


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 (NCHAX): Fund Analysis Report
 
Get Your Free (NMTRX): Fund Analysis Report
 
Get Your Free (FCDDX): Fund Analysis Report
 
To read this article on Zacks.com click here.