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 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 had $948 billion of assets under management as of Sep 30, 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 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 three-year annualized returns of 2.7%.
NMBAX has an expense ratio of 0.69% compared with the category average of 0.75%.
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 9.6%.
As of October 2017, NPSAX held 167 issues with 2.92% of its assets invested in Lloyds Bkg Grp FRN.
