Nuveen Investments, headquartered in Chicago, IL, was founded in 1898 by John Nuveen. The company seeks to provide financial services to 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 is also leading in alternative investments. In its Multi-Asset Solutions, the company had $1 trillion of assets under management as of Sep 30, 2019. 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 peers in the future.
Nuveen Strategic Income Fund Class A (FCDDX - Free Report) aims for maximizing total return. The fund invests the majority of its assets in income-producing securities. The fund’s investments include U.S. government securities, residential and commercial mortgage-backed securities, fixed and floating rate loans, preferred securities, and municipal securities, etc. FCDDX has three-year annualized returns of 4.3%.
FCDDX has an expense ratio of 0.85% compared with the category average of 1.03%.
Nuveen North Carolina Municipal Bond Fund Class C2 (FCNCX - Free Report) 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 2.4%.
As of September 2019, FCNCX held 214 issues, with 2.61% of its assets invested in PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.5%.
Nuveen Municipal Total Return Managed Accounts (NMTRX - Free Report) 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 4.5%.
Martin J. Doyle is the fund manager of NMTRX since 2007.
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