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 $1.1 trillion of assets under management as of Sep 30, 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) or 2 (Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of funds.
Nuveen Missouri Municipal Bond Fund Class A (FMOTX – Free Report) 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 product may also invest a smaller portion of its assets in high-yield bonds. FMOTX has returned 4.1% over the past three years and carries a Zacks Mutual Fund Rank #1.
Christopher L. Drahn is the fund manager of FMOTX since 2011.
Nuveen Strategic Income Fund Class A (FCDDX – Free Report) aims to maximize 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 5.6% and sports a Zacks Mutual Fund Rank #2.
FCDDX has an expense ratio of 0.84% compared with the category average of 0.99%.
Nuveen Municipal Total Return Managed Accounts (NMTRX – Free Report) aims to offer a high current income that is exempted from regular federal income taxes. The fund invests majority of assets in tax-free municipal bonds. It may also invest about half of its assets in below- investment-grade municipal bonds. NMTRX carries a Zacks Mutual Fund Rank #1 and has three-year annualized returns of 5%.
As of the end of November 2020, FVATX held 845 issues, with 2.02% of its assets invested in HILLSBOROUGH CNTY FLA INDL DEV AUTH HOSP REV 4%.
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 >>