Nuveen Investments was founded in 1898 by John Nuveen and is headquartered in Chicago, Illinois. 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 deals with a wide variety of mutual funds including both equity and fixed income funds, and domestic and foreign funds. In its Multi-Asset Solutions the company has $906 billion of assets under management. 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 best-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 Intermediate Duration Muni Bond A (NMBAX - Free Report) seeks a high level of interest income which is exempted from federal income taxes as well as capital preservation. NMBAX invests a bulk of its assets in muni bonds free from federal personal income tax. These muni bonds are generally rated Baa/BBB or higher. Nuveen Intermediate Duration Muni Bond A has a year-to-date return of 4.8%.
Paul Brennan is the fund manager of NMBAX since 2007.
Nuveen Preferred Securities A (NPSAX - Free Report) invests a major portion of its assets in preferred securities. NPSAX seeks a high level of current income. The advisor invests a minimum 25% of its assets in the preferred securities of companies primarily involved in financial services. The fund invests more than half of its assets in securities rated investment grade. Nuveen Preferred Securities A has a year-to-date return of 8.8%.
NPSAX has an expense ratio of 1.07% as compared to the category average of 1.22%.
Nuveen Strategic Income A (FCDDX - Free Report) seeks to offer stable returns to its investors. FCDDX invests the bulk of its assets in debt securities like government debt securities, asset-backed securities, mortgage-backed securities, U.S. and non-U.S. corporate bonds and municipal bonds. Nuveen Strategic Income A has a year-to-date return of 3.7%.
As of June 2017, FCDDX held 337 issues, with 3.32% of its assets invested in Fed Natl Mort Assc 4%.
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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