Nuveen Investments was founded in 1898 by John Nuveen and is headquartered in Chicago, IL. 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 is the number one farmland assets manager in the world. It is also the biggest leader in alternative investments. In its Multi-Asset Solutions, the company had $970 billion of assets under management as of Dec 31, 2017. 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 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 Nuveen funds.
Nuveen Core Plus Bond A seeks to offer a high level of income and ensure limited capital risk. FAFIX invests a large chunk of its assets in bonds, with special focus on U.S. government securities, muni and corporate bonds, and commercial and residential mortgage-backed securities. Nuveen Core Plus Bond A has one-year annualized returns of 1.7%.
As of February 2018, FAFIX held 289 issues, with 2.49% of its assets invested in FHLMC 3.5%.
Nuveen CO Municipal Bond A (FCOTX - Free Report) invests a bulk of its assets in investment-grade municipal securities that are rated BBB/Baa or better. FCOTX may also invest around one-fifth of its assets in municipal bonds that are rate below investment grade or high yield bonds. The fund seeks a high level of income, which is free from federal income taxes, Colorado State and sometimes Colorado local income taxes. Nuveen CO Municipal Bond A has one-year annualized returns of 3.5%.
FCOTX has an expense ratio of 0.83% compared with the category average of 1.15%.
Nuveen High Yield Municipal Bond A (NHMAX - Free Report) seeks a high level of tax-exempted current income. NHMAX invests a huge chunk of its assets in debt securities issued by municipal bodies that are expected to provide return free from regular federal personal income tax. Moreover, NHMAX may invest in long-term municipal debt securities that are rated below investment grade. Nuveen High Yield Municipal Bond A has one-year annualized returns of 7.7%.
John V. Miller has been the fund manager of NHMAX since 2000.
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.
Want key mutual fund info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >>