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Buy These 3 Nuveen Mutual Funds for Spectacular Returns

Nuveen Investments, headquartered in Chicago, IL, was founded in 1898 by John Nuveen. The company aims to provide financial services to its clients by using the multi-boutique structure. It provides these services through an independent team comprising Nuveen Asset Management, Winslow Capital and Symphony.

Nuveen is the number one farmland assets manager in the world and a leader in alternative investments. In its Multi-Asset Solutions, the company had $1.2 trillion of assets under management as of Jun 30, 2021. 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, namely Nuveen Minnesota Municipal Bond Fund Class A FJMNX, Nuveen Municipal Total Return Managed Accounts NMTRX, and Nuveen Maryland Municipal Bond Fund Class A NMDAX. Each sports 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 Minnesota Municipal Bond Fund Class A intends to maximize tax-free current income. FJMNX invests a chunk of its assets in municipal bonds that pay interest, which is free from regular federal and the Minnesota state income tax.

Nuveen Minnesota Municipal Bond Fund Class A has a three-year annualized return of 4.3%. As of the end of November 2021, FJMNX held 480 issues, with 2.28% of its assets invested in WESTERN MINN MUN PWR AGY MINN PWR SUPPLY REV 5%.

Nuveen Municipal Total Return Managed Accounts fund aims to offer a high current income that is exempted from regular federal income taxes. NMTRX invests the majority of its assets in tax-free municipal bonds. Nuveen Municipal Total Return Managed Accounts may also invest about half of its assets in below-investment-grade municipal bonds.

NMTRX has three-year annualized returns of 5.5%. Martin J. Doyle has continued as the fund manager of Nuveen Municipal Total Return Managed Accounts since 2007.

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 4.3% and an expense ratio of 0.80% compared with the category average of 0.87%.

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

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