With nearly $967 billion in assets under management as of Mar 31, 2018, 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 over $147 billion of assets invested in municipal fixed income bonds.
Nuveen manages its 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 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. The fund also maintains 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 one-year annualized returns of 2.2%.
NMBAX has an expense ratio of 0.69% compared with the category average of 0.76%.
Nuveen Symphony Credit Opportunities A (NCOAX - Free Report) seeks growth of income and capital. NCOAX invests a huge chunk of its assets in loans, convertible securities and bonds that are rated lower than investment-grade or even unrated. The fund invests in debt securities issued by both domestic and foreign companies. Nuveen Symphony Credit Opportunities A has one-year annualized returns of 3.5%.
As of April 2018, NCOAX held 1,280 issues, with 1.11% of its assets invested in BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5.12%.
Nuveen International Growth A (NBQAX - Free Report) invests a major portion of its assets in foreign equity securities. The fund invests in equity securities of small-, mid- and large-cap companies. NBQAX seeks appreciation of capital for the long run. Nuveen International Growth A has one-year annualized returns of 24.5%.
Joe R. O'Flaherty is one of the fund managers of NBQAX since 2017.
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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