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Grab These 3 Nuveen Mutual Funds for Striking Returns

With $1.1 trillion in assets under management as of Sep 30, 2020, 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 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 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) or #2 and is expected to outperform peers in the future. Investors can click here to see the complete list of funds.

Nuveen Virginia Municipal Bond Fund Class A FVATX aims to provide a high level of current interest income, exempt from regular federal, Virginia State and, in some cases, Virginia local income taxes as is consistent with preservation of capital. The fund invests majority of assets in investment grade municipal bonds rated BBB/Baa or higher at the time of purchase. FVATX has three-year annualized returns of 4.2%.

Stephen J Candido is the fund manager of FVATX since 2016.

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 majority of 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 5.1%.

NMTRX has an expense ratio of 0.12% compared with the category average of 0.77%.

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 majority of assets in investment-grade municipal bonds. FCNCX has three-year annualized returns of 3.5%.

As of the end of October 2020, FCNCX held 270 issues, with 2.30% of its assets invested in NORTH CAROLINA ST LTD OBLIG 5%.

To view the Zacks Rank and past performance of all Nuveen mutual funds, investors can click here to see the complete list of funds.

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