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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