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. It is also the biggest leader in alternative investments. In its Multi-Asset Solutions, the company had $989 billion of assets under management as of Mar 31, 2019. Nuveen manages its assets across 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 four top-ranked Nuveen mutual funds. 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 Global Infrastructure Fund Class A (FGIAX – Free Report) aims for growth of capital and income over a long period of time. The fund invests the majority of its assets in securities of U.S. and non-U.S. infrastructure-related companies. The fund diversifies its assets across various countries. Under normal circumstances, 40% of the fund’s net assets are invested in securities of non-U.S. issuers. In addition, the fund also invests a quarter of its assets in equity securities of emerging market issuers. FGIAX has returned 21.7% on a year-to-date basis.
Jay L. Rosenberg is the fund manager of FGIAX since 2007.
Nuveen Strategic Income Fund Class A (FCDDX – Free Report) aims for 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 returned 8.9% on a year-to-date basis.
FCDDX has an expense ratio of 0.83% compared with the category average of 1.03%.
Nuveen Pennsylvania Municipal Bond Fund Class A (FPNTX – Free Report) seeks high current interest income that is exempted from regular federal, Pennsylvania State and, in some cases, the Pennsylvania local income taxes, on par with capital preservation. The fund invests the majority of its assets in investment grade municipal bonds rated BBB/Baa or higher at the time of purchasing the fund. If unrated, the bond’s quality is assessed by the fund’s sub-adviser. FPNTXhas returned 5.9% on a year-to-date basis.
As of May 2019, FPNTX held 257 issues, with 3.15% of its assets invested in PHILADELPHIA PA 1.3%.
Nuveen Preferred Securities & Income Fund Class A (NPSAX – Free Report) aims for high current income and total return. The fund invests the majority of its assets in preferred securities and other income-producing securities. The fund aims to invest at least a quarter of its net assets in securities of financial services companies and usually invests half of its assets in investment grade securities. The fund may also invest about a half of its assets in securities rated below investment grade. NPSAX has returned 10.4% on a year-to-date basis.
NPSAX has an expense ratio of 1.03% compared with the category average of 1.25%.
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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