Nuveen Investments, headquartered in Chicago, IL, was founded in 1898 by John Nuveen. The company aims to provide financial services to its clients using a multi-boutique structure. It provides these services through an independent team, comprising Nuveen Asset Management, Winslow Capital and Symphony.
Nuveen is the number one farmland assets manager in the world and a leader in alternative investments. In its Multi-Asset Solutions, the company had $1.1 trillion of assets under management as of Dec 31, 2022. Nuveen offers 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, viz.,Nuveen Floating Rate Income Fund NFRAX, Nuveen Real Estate Securities Fund FARCX and Nuveen Preferred Securities & Income Fund NPSRX. Each has 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 mutual funds.
Nuveen Floating Rate Income Fund invests most of its assets along with borrowings, if any, in floating-rate securities. NFRAX advisors consider investing in floating-rate loans, other floating-rate debt securities, including corporate debt securities and U.S. government 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 2.7%. As of the end of August 2022, NFRAX held 56.25% of its assets invested in Miscellaneous bonds.
Nuveen Real Estate Securities Fund invests most of its assets along with borrowings, if any, in income-producing common stocks of publicly traded companies engaged in the real estate industry, including equity REITs. FARCX advisors may also invest a small portion of its assets in non-dollar-denominated equity securities of non-U.S. issuers as well as emerging market issuers in various proportions.
Nuveen Real Estate Securities Fund has three-year annualized returns of 2.5%. FARCX has an expense ratio of 0.97% compared with the category average of 1.08%.
Nuveen Preferred Securities & Income Fund invests most of its net assets, along with borrowings, if any, in preferred securities and other income-producing securities. NPSRX advisors also invest in companies principally engaged in financial services, investment-grade securities as well as unrated securities of comparable quality in various proportions.
Nuveen Preferred Securities & Income Fund has three-year annualized returns of 1.20%. Douglas M. Baker has been one of the fund managers of NPSRX since December 2006.
To view the Zacks Rank and the past performance of all Nuveen mutual funds, investors can click here to see the complete list of Nuveen mutual funds.
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