3 Nuveen Mutual Funds for Steady Returns

With $1.1 trillion in assets under management as of Jun 30, 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 mid-cap blend mutual funds, namely Nuveen Preferred Securities & Income Fund NPSRX, Nuveen Short Duration High Yield Municipal Bond Fund NVHAX, and Nuveen Limited Term Municipal Bond Fund FLTRX. 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 Preferred Securities & Income Fund seeks a high level of current income alongside total return by investing the majority of its assets in investment-grade preferred securities and other income-producing securities. NPSRX also invests a small portion of its net assets in securities of companies principally engaged in financial services.

Nuveen Preferred Securities & Income Fund has three-year annualized returns of 1.8%. As of March 2022, NPSRX had 65% of its assets invested in Preferred Stocks.

Nuveen Short Duration High Yield Municipal Bond Fund seeks high current income exempted from federal income taxes alongside capital appreciation by investing the majority of its assets in municipal bonds that pay interest exempt from regular federal personal income tax. NVHAX advisors maintain an investment portfolio with a weighted average effective duration of less than 4.5 years

Nuveen Short Duration High Yield Municipal Bond Fund has three-year annualized returns of 0.7%. NVHAX has an expense ratio of 0.75% compared with the category average of 0.92%.

Nuveen Limited Term Municipal Bond Fund seeks current interest income exempted from federal income taxes alongside the preservation of capital by investing the majority of its assets in investment-grade municipal bonds rated BBB/Baa or higher. FLTRX also invests a small portion of its net assets in below-investment-grade municipal bonds or junk bonds.

Nuveen Limited Term Municipal Bond Fund fund has three-year annualized returns of 0.2%. Paul L. Brennan has been one of the fund managers of FLTRX since 2006.

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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