Buy These 3 Best Performing Nuveen Mutual Funds Today
Nuveen Investments, headquartered in Chicago, IL, was founded in 1898 by John Nuveen. 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 is the number one farmland assets manager in the world and a leader in alternative investments. In its Multi-Asset Solutions, the company had $1.2 trillion of assets under management as of Mar 31, 2021. Nuveen offers 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 funds.
Nuveen Missouri Municipal Bond Fund Class A FMOTX aims to offer a high level of current interest income that is exempted from regular federal, Missouri State and, in some cases, Missouri local income taxes, and is on par with capital preservation. The fund invests the majority of its assets in investment grade municipal bonds that are rated BBB/Baa or higher at the time of purchase by at least one independent rating agency or judged similarly by the fund’s adviser. The product may also invest a smaller portion of its assets in high-yield bonds. FMOTX has returned 4.6% over the past three years.
Christopher L. Drahn is the fund manager of FMOTX since 2011.
Nuveen All-American Municipal Bond Fund Class A FLAAX invests the lion’s share of its assets in municipal debt securities that are free from federal personal income tax. These muni bonds are rated Baa/BBB or higher. FLAAX may also invest around one-fifth of its assets in “junk” or high yield bonds. The fund seeks tax-exempted income. It has three-year annualized returns of 5.9%.
FLAAX has an expense ratio of 0.70% compared with the category average of 0.73%.
Nuveen Municipal Total Return Managed Accounts NMTRX aims to offer a 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 5.9%.
As of the end of June 2021, NMTRX held 988 issues, with 0.78% of its assets invested in HILLSBOROUGH CNTY FLA INDL DEV AUTH HOSP REV 4%.
To view the Zacks Rank and past performance of all Nuveen mutual funds, investors can click here to see the complete list of funds.
Want key mutual fund info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >>
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.See 3 crypto-related stocks now >>
Click to get this free report
Get Your Free (NMTRX): Fund Analysis Report
Get Your Free (FLAAX): Fund Analysis Report
Get Your Free (FMOTX): Fund Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.