3 Mutual Funds From Nuveen’s Portfolio – October 17, 2019

With nearly $1 trillion in assets under management as of Jun 30, 2019, 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 $170 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 funds.

Nuveen Kentucky Municipal Bond Fund Class A (FKYTX Free Report) aims to offer tax-free income. The fund mostly invests in investment-grade municipal bonds. The portfolio is designed in such a manner that the fund provides high current interest income free of regular federal, state and to an extent, local income taxes. FKYTX has three-year annualized returns of 2.8%.

Daniel J. Close is the fund manager of FKYTX since 2007.

Nuveen Municipal Total Return Managed Accounts (NMTRX Free Report) fund aims to offer high current income that is exempted from regular federal income taxes. The fund invests the majority of its assets in tax-free municipal bonds. It may also invest about half of its assets in below investment grade municipal bonds. NMTRX has three-year annualized returns of 4%.

As of August 2019, NMTRX held 785 issues, with 0.91% of its assets invested in HARRIS CNTY TEX FLOOD CTL DIST 4%.

Nuveen Global Infrastructure Fund Class A (FGIAX Free Report) aims for growth of capital and income over a long period of time. It invests the majority of its assets in securities of U.S. and non-U.S. infrastructure-related companies. The fund diversifies its assets across a number of countries. Under normal circumstances, 40% of the fund’s net assets are invested in securities of non-U.S. issuers. In addition, the fund also invests a quarter of its assets in equity securities of emerging market issuers. FGIAX has three-year annualized returns of 8.7%.

FGIAX has an expense ratio of 1.22% compared with the category average of 1.28%.

To view the Zacks Rank and past performance of all Nuveen mutual funds, investors can click here to see the complete list of funds.

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