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. It is also the biggest leader in alternative investments. In its Multi-Asset Solutions, the company had $973 billion of assets under management as of Jun 30, 2018. 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 KS Municipal Bond A (FKSTX – Free Report) seeks to offer high level of income, free from regular federal, Kansas State and, sometimes, Kansas local income taxes. The fund invests a bulk of its assets in municipal bonds that are rated investment-grade, which is BBB/Baa or better by one or several independent rating agencies. FKSTX may also invest around one-fifth of its assets in muni bonds rated lower than investment grade. Nuveen KS Municipal Bond A has one-year annualized returns of 2.2%.
Steven M. Hlavin is the fund manager of FKSTX since 2011.
Nuveen California Municipal Bond A (NCAAX – Free Report) invests a major portion of its assets in municipal debt obligations that provide interest income exempted from federal and California personal income tax. NCAAX invests in securities including bonds of the State of California or its affiliates, and debt obligations issued by the U.S. government. Nuveen California Municipal Bond A has one-year annualized returns of 1.8%.
NCAAX has an expense ratio of 0.75% compared with the category average of 0.90%.
Nuveen Winslow Large-Cap Growth R6 (NWCFX – Free Report) seeks appreciation of capital for the long run. NWCFX invests a large chunk of its assets in equity securities of domestic companies that market-cap of $4 billion or higher. The fund may invest about one-fifth of its assets in equity securities of foreign companies. Nuveen Winslow Large-Cap Growth R6 has one-year annualized returns of 26.5%.
As of July 2018, NWCFX held 55 issues, with 6.50% of its assets invested in Amazon.com Inc.
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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