4 Top Mutual Fund Picks From Nuveen
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 four 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 aims to offer tax-free income. The fund mostly invests in investment-grade municipal bonds. The fund’s portfolio is designed in such a manner that it provides high current interest income free of regular federal, state and to an extent, local income taxes. FKYTX has returned 5.8% on a year-to-date basis.
FKYTX has an expense ratio of 0.86% compared with the category average of 0.93%.
Nuveen Municipal Total Return Managed Accounts NMTRX 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. The fund may also invest about half of its assets in below investment grade municipal bonds. NMTRXhas returned 7.3% on a year-to-date basis.
As of June 2019, NMTRX held 774 issues, with 0.94% of its assets invested in HARRIS CNTY TEX FLOOD CTL DIST 4%.
Nuveen Strategic Income Fund Class A FCDDX aims to offer total return. The fund invests most of its assets in a diversified portfolio of investment grade and high-yield debt securities from U.S. and foreign issuers. FCDDX has returned 9.6% on a year-to-date basis.
FCDDX has an expense ratio of 0.83% compared with the category average of 1.03%.
Nuveen Global Infrastructure Fund Class A FGIAX aims for capital growth over a long period of time. The fund invests the majority of its assets in equity securities of U.S. and foreign infrastructure companies. These companies usually own or operate crucial structures, facilities and services. FGIAX has returned 19.7% on a year-to-date basis.
Jay L. Rosenberg is the fund manager of FGIAX since 2007.
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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