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3 Nuveen Mutual Funds That Are a Must for Your Portfolio
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With $1.2 trillion in assets under management as of Mar 31, 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.
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 4.6% over the past three years.
Christopher L. Drahn is the fund manager of FMOTX since 2011.
Nuveen Maryland Municipal Bond Fund Class A (NMDAX - Free Report) 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 preservation of capital. The fund invests majority of 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 0.91%.
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 4.3%.
As of the end of April 2021, FJMNX held 224 issues, with 2.32% of its assets invested in MARYLAND ST 5%.
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3 Nuveen Mutual Funds That Are a Must for Your Portfolio
With $1.2 trillion in assets under management as of Mar 31, 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 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 4.6% over the past three years.
Christopher L. Drahn is the fund manager of FMOTX since 2011.
Nuveen Maryland Municipal Bond Fund Class A (NMDAX - Free Report) 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 preservation of capital. The fund invests majority of 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 0.91%.
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 4.3%.
As of the end of April 2021, FJMNX held 224 issues, with 2.32% of its assets invested in MARYLAND ST 5%.
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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