With nearly $1.1 trillion in assets under management as of Dec 31, 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 $498 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 North Carolina Municipal Bond Fund Class C2 FCNCX aims to provide a high level of current interest income, exempt from regular federal, North Carolina State and North Carolina local income taxes. The fund invests the majority of its assets in investment-grade municipal bonds. FCNCX has three-year annualized returns of 3.9%.
As of December 2019, FCNCX held 226 issues, with 2.51% of its assets invested in PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.5%.
Nuveen Municipal Total Return Managed Accounts NMTRX aims to offer high current income that is exempted from regular federal income taxes. The fund invests 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 6.4%.
Martin J. Doyle is the fund manager of NMTRX since 2007.
Nuveen Global Infrastructure Fund Class A FGIAX 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 invests a quarter of its assets in equity securities of emerging market issuers. FGIAX has three-year annualized returns of 12%.
FGIAX has an expense ratio of 1.22% compared with the category average of 1.27%.
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 >>
Get Your Free (NMTRX): Fund Analysis Report
Get Your Free (FCNCX): Fund Analysis Report
Get Your Free (FGIAX): Fund Analysis Report
Original post
Zacks Investment Research