With nearly $970 billion in assets under management as of Dec 31, 2017, Nuveen Investments manages a wide range of mutual funds, including equity and fixed income funds, and domestic and foreign funds. Founded in 1898 by John Nuveen, the company currently has more than $305 billion of assets invested in equities globally.
Nuveen manages its assets across a wide range of asset classes and products. Also, it offers financial services to clients through a 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 Nuveen funds.
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 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 three-year annualized returns of 5.8%.
As of January 2018, NPSAX held 165 issues with 3.16% of its assets invested in General Elec FRN.
Nuveen Municipal Total Return Managed Accounts (NMTRX - Free Report) invests the majority of its assets in municipal debt obligations that provide interest income exempted from federal personal income tax. NMTRX normally invests nearly 30% of its assets in below investment grade bonds. Nuveen Municipal Total Return Managed Accounts has three-year annualized returns of 3.6%.
Martin Doyle is the fund manager of NMTRX since May 2007.
Nuveen All-American Municipal Bond Fund Class A (FLAAX - Free Report) invests the lion’s share of its assets in municipal debt securities that are free from federal personal income tax. These muni bonds are rated Baa/BBB or higher. FLAAX may also invest around one-fifth of its assets in “junk” or high yield bonds. The fund seeks tax-exempted income. Nuveen All-American Municipal Bond A has three-year annualized returns of 3.1%.
FLAAX has an expense ratio of 0.70% compared with the category average of 0.85%.
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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