3 Nuveen Mutual Funds for Spectacular Returns
With $1.1 trillion in assets under management as of Mar 31, 2023, 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 $478 billion of assets invested in fixed-income bonds.
Nuveen manages assets across a wide range of classes and products. Also, Nuveen offers financial services to its clients using a 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 Mid Cap Value Fund FASEX, Nuveen International Value Fund NAIGX and Nuveen High Yield Municipal Bond Fund NHMAX. 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 Mid Cap Value Fund seeks capital appreciation by investing in common stocks of mid-capitalization companies, defined as companies that have market capitalizations within the range of the Russell Midcap Index. FASEX advisors select companies they believe are undervalued, exhibit good or improving fundamentals, and have an identifiable catalyst that could close the gap between market value and fair value.
Nuveen Mid Cap Value Fund has three-year annualized returns of 18.5%. As of April 2023, FASEX held 73 issues, with 2.1% of its assets invested in Hubbell Inc.
Nuveen International Value Fund seeks to provide long-term capital appreciation. NAIGX invests in equity securities of companies domiciled in countries other than the United States.
Nuveen International Value Fund has three-year annualized returns of 14%. James T. Stephenson has been one of the fund managers of NAIGX since 2018.
Nuveen High Yield Municipal Bond Fund seeks high current income exempt from regular federal income taxes. NHMAX invests in medium- to low-quality bonds.
Nuveen High Yield Municipal Bond Fund has three-year annualized returns of 0.4%. NHMAX has an expense ratio of 0.76% compared with the category average of 0.92%
To view the Zacks Rank and the past performance of all mid-cap blend mutual funds, investors can click here to see the complete list of Nuveen mutual funds.
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