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3 Nuveen Mutual Funds Worth Adding to Your Portfolio

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With $1.1 trillion in assets under management as of Sep 30, 2020, Nuveen Investments 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 $480 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 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 peers in the future. Investors can click here to see the complete list of funds.

Nuveen Virginia Municipal Bond Fund Class A (FVATX - Free Report) aims to provide a high level of current interest income, exempt from regular federal, Virginia State and, in some cases, Virginia local income taxes as is consistent with preservation of capital. The fund invests majority of assets in investment grade municipal bonds rated BBB/Baa or higher at the time of purchase. FVATX has three-year annualized returns of 4.7%.

Stephen J Candido is the fund manager of FVATX since 2016.

Nuveen Minnesota Municipal Bond Fund Class A (FJMNX - Free Report) seeks to maximize tax-free current income. FJMNX invests a major portion of its assets in municipal bonds that pay interest which is free from regular federal and Minnesota personal income tax. FJMNX has a three-year annualized return of 4.5%.

FJMNXhas an expense ratio of 0.79% compared with the category average of 0.93%.

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 majority of 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 January 2021, FMOTX held 361 issues, with 1.66% of its assets invested in MISSOURI ST DEV FIN BRD SOLID WASTE DISP REV 5.2%.

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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