Buy These 3 Nuveen Mutual Funds for Sparkling Returns

·3 min read

With $1.2 trillion in assets under management as of Jun 30, 2021, Nuveen, LLC is a wholly-owned subsidiary of Teachers Insurance and Annuity Association of America. It manages a wide range of mutual funds, including both equity and fixed income funds, and domestic and foreign funds. Founded in 1898 by John Nuveen, the company currently has more than $467 billion of assets invested in municipal fixed income bonds.

Nuveen manages assets across a wide range of asset classes and products. Also, Nuveen offers financial services to its clients by using the multi-boutique structure. The company provides these services through its independent team, comprising Nuveen Asset Management, Winslow Capital and Symphony.

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 funds.

Nuveen Maryland Municipal Bond Fund Class A NMDAX aims to provide a high level of current interest income, exempt from regular federal, Maryland State and, in some cases, Maryland local income taxes as is consistent with the preservation of capital. The fund invests the majority of its assets in investment-grade municipal bonds rated BBB/Baa or higher at the time of purchase. NMDAX has three-year annualized returns of 4.4%.

NMDAX has an expense ratio of 0.81% compared with the category average of 0.87%.

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 product may also invest a smaller portion of its assets in high-yield bonds. FMOTX has returned 4.6% over the past three years.

As of the end of September 2021, FMOTX held 395 issues, with 1.7% of its assets invested in MISSOURI ST HEALTH & EDL FACS AUTH HEALTH FACS REV 4%.

Nuveen Municipal Total Return Managed Accounts NMTRX aims to offer a 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 5.8%.

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

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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