Nuveen Investments was founded in 1898 by John Nuveen and is headquartered in Chicago, IL. 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 deals with a wide variety of mutual funds including both equity and fixed-income funds, and domestic and foreign funds. In its Multi-Asset Solutions, the company had $948 billion of assets under management as of Sep 30, 2017. Nuveen manages its assets across 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 Nuveen funds .
Nuveen Intermediate Duration Muni Bond A NMBAX seeks a high level of interest income which is exempted from federal income taxes as well as capital preservation. NMBAX invests a bulk of its assets in muni bonds free from federal personal income tax. These muni bonds are generally rated Baa/BBB or higher. Nuveen Intermediate Duration Muni Bond A has three-year annualized returns of 2.7%.
NMBAX has an expense ratio of 0.69% compared with the category average of 0.75%.
Nuveen Preferred Securities A NPSAX invests a major portion of its assets in preferred securities. NPSAX seeks a high level of current income. The advisor invests a minimum 25% of its assets in preferred securities of companies primarily involved in financial services. The fund invests more than half of its assets in securities rated investment grade. Nuveen Preferred Securities A has three-year annualized returns of 9.6%.
As of October 2017, NPSAX held 167 issues with 2.92% of its assets invested in Lloyds Bkg Grp FRN.
Nuveen Municipal Total Return Managed Accounts NMTRX invests the majority of its assets in municipal debt obligations that provide interest income exempted from federal personal income tax. NMTRX normally invests nearly 30% of its assets in below investment grade bonds. Nuveen Municipal Total Return Managed Accounts has three-year annualized returns of 4.5%.
Martin Doyle is the fund manager of NMTRX since May 2007.
To view the Zacks Rank and past performance of all Nuveen mutual funds, investors can click here to see the complete list of Nuveen funds .
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