3 Best-Ranked Nuveen Mutual Funds To Maximize Gains

With nearly $929 billion in assets under management (as of June 30, 2017), 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 nearly $305 billion of its assets invested in equities globally. Nuveen manages its 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. 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 Nuveen funds.

Nuveen CA High Yield Municipal Bond A NCHAX invests a large chunk of its assets in debt securities issued by municipal bodies that are expected to provide return free from regular federal and California personal income tax. NCHAX seeks a high level of tax-exempted current income. Nuveen CA High Yield Municipal Bond A has three-year annualized returns of 5.7%.

NCHAX has an expense ratio of 0.84% as compared with the category average of 0.85%.

Nuveen All-American Municipal Bond Fund Class A FLAAX invests the lion’s share of its assets in municipal debt securities that are free from 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. The fund seeks tax-exempted income. Nuveen All-American Municipal Bond A has three-year annualized returns of 4.4%.

As of July 2017, FLAAX held 996 issues, with 2.16% of its assets invested in Chicago Ill Brd Ed Dedicated C Cap Im 6%.

Nuveen Strategic Income Fund Class A FCDDX seeks to offer stable returns to its investors. FCDDX invests the bulk of its assets in debt securities like government debt securities, asset-backed securities, mortgage-backed securities, U.S. and non-U.S. corporate bonds and municipal bonds. Nuveen Strategic Income A has three-year annualized returns of 2.3%.

Douglas Baker is one of the fund managers of FCDDX since 2016.

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

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