With $1.1 trillion in assets under management as of Dec 31, 2022, Nuveen, LLC is a wholly-owned subsidiary of Teachers Insurance and Annuity Association of America. It 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 $478 billion of assets invested in fixed-income bonds.

 

Nuveen manages assets across a wide range of asset classes and products. Also, Nuveen offers financial services to its clients using a 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, viz., Nuveen Small/Mid Cap Value Fund (NSMCX Quick QuoteNSMCX - Free Report) , Nuveen Floating Rate Income Fund (NFRIX Quick QuoteNFRIX - Free Report) , and Nuveen High Yield Municipal Bond Fund (NHMRX Quick QuoteNHMRX - Free Report) . 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 Small/Mid Cap Value Fund invests in equity securities of U.S. companies that have market capitalization similar to those on the Russell 2500 Value Index. NSMCX also invests its net assets in non-U.S. equity securities, including in emerging market countries.

 

Nuveen Small/Mid Cap Value Fund has three-year annualized returns of 23.8%. As of December 2022, NSMCX held 55 issues, with 3% of its assets invested in Nvent Electric.

 

Nuveen Floating Rate Income Fund invests its net assets and any borrowings in variable-rate securities under normal market conditions. NFRIX advisors also invest in various floating-rate debt securities, money market securities, and shares of money market and short-term bond funds.

 

Nuveen Floating Rate Income Fund has three-year annualized returns of 7.8%. Kevin R. Lorenz has been one of the fund managers of NFRIX since 2020.

 

Nuveen High Yield Municipal Bond Fund seeks to preserve capital while offering a high level of current interest income that is free from standard federal income taxes. NHMRX distributes capital gains once a year and pays tax-free dividend to its investors on a monthly basis.

 

Nuveen High Yield Municipal Bond Fund has three-year annualized returns of 2.7%. NHMRX has an expense ratio of 0.54% compared with the category average of 0.92%

 

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

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