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With $1.2 trillion in assets under management as of Sep 30, 2021, Nuveen, LLC is a wholly-owned subsidiary of Teachers Insurance and Annuity Association of America. It 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 more than $467 billion of assets invested in municipal fixed income bonds.

Nuveen manages 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, viz., Nuveen Maryland Municipal Bond Fund Class A (NMDAX - Free Report) , Nuveen Missouri Municipal Bond Fund Class A (FMOTX - Free Report) , and Nuveen All-American Municipal Bond Fund Class A (FLAAX - Free Report) . Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future.

Nuveen Maryland Municipal Bond Fund Class A aims to provide a high level of current interest income, exempt from regular federal, Maryland State and, in some cases, Maryland local income taxes as is consistent with the preservation of capital.

Nuveen Maryland Municipal Bond Fund Class A invests most of its assets in investment-grade municipal bonds rated BBB/Baa or higher at the time of purchase. NMDAX has three-year annualized returns of 4.6% and has an expense ratio of 0.80% compared with the category average of 0.87%.

Nuveen Missouri Municipal Bond Fund Class A 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. FMOTX 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.

Nuveen Missouri Municipal Bond Fund Class A may also invest a smaller portion of its assets in high-yield bonds. FMOTX has returned 4.7% over the past three years. As of the end of November 2021, FMOTX held 398 issues, with 1.7% of its assets invested in MISSOURI ST HEALTH & EDL FACS AUTH HEALTH FACS REV 4%.

Nuveen All-American Municipal Bond Fund Class A invests the lion’s share of its assets in municipal debt securities free from the 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.

Nuveen All-American Municipal Bond Fund Class A seeks tax-exempted income and has three-year annualized returns of 6.2%. John V. Miller is the fund manager of FLAAX since 2010.