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 $1 trillion of assets under management as of Jun 30, 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 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 funds.
Nuveen Strategic Income Fund Class A FCDDX 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 three-year annualized returns of 4.2%.
FCDDX has an expense ratio of 0.83% compared with the category average of 1.03%.
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 the majority of its assets in investment-grade municipal bonds. FCNCX has three-year annualized returns of 2%.
As of August 2019, FCNCX held 213 issues, with 2.62% of its assets invested in PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.5%.
Nuveen Global Infrastructure Fund Class A FGIAX 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 three-year annualized returns of 8.6%.
Jay L. Rosenberg is the fund manager of FGIAX since 2007.
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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