CHICAGO--(BUSINESS WIRE)--Nuveen Investments, a leading global provider of investment services to individual investors and their financial advisors, today announced that seven of its municipal bond mutual funds have won 2016 Thomson Reuters Lipper Fund Award. This widely recognized award honors mutual funds that have outperformed their peers based on consistent, risk-adjusted returns. Managed by Nuveen Investments affiliate, Nuveen Asset Management, the following 2016 Thomson Reuters Lipper Fund Award for Best Fund over 3-year, 5-year, or 10-year periods ending November 30, 2015 include:
| Full Fund Name | Lipper Classification |
Performance Time Periods/
Classification Fund Count |
||||||
| Nuveen California High Yield Municipal Bond Fund, I | California Municipal Debt Funds | 3 years/112 funds | ||||||
| Nuveen California High Yield Municipal Bond Fund, I | California Municipal Debt Funds | 5 years/106 funds | ||||||
| Nuveen California Municipal Bond Fund, I | California Municipal Debt Funds | 10 years/85 funds | ||||||
| Nuveen High Yield Municipal Bond Fund, I | High Yield Municipal Debt Funds | 3 years/116 funds | ||||||
| Nuveen High Yield Municipal Bond Fund, I | High Yield Municipal Debt Funds | 5 years/109 funds | ||||||
| Nuveen Minnesota Municipal Bond Fund, I | Minnesota Municipal Debt Funds | 10 years/27 funds | ||||||
| Nuveen New Jersey Municipal Bond Fund, I | New Jersey Municipal Debt Funds | 3 years/45 funds | ||||||
| Nuveen New Jersey Municipal Bond Fund, I | New Jersey Municipal Debt Funds | 10 years/31 funds | ||||||
| Nuveen Pennsylvania Municipal Bond Fund, I | Pennsylvania Municipal Debt Funds | 10 years/42 funds | ||||||
| Nuveen Virginia Municipal Bond Fund, I | Virginia Municipal Debt Funds | 10 years/23 funds |
Nuveen Asset Management’s municipal bond portfolios seek to provide returns that are consistent and research-driven. Working with one of the largest municipal research teams in the investment management industry, portfolio managers and analysts follow a disciplined investment approach to help identify fixed-income securities that combine exceptional relative value with above-average return potential while managing portfolio risk.
“We are proud of the performance of our high yield and specialty state municipal funds, and believe these awards reflect the importance we place on deep and insightful credit research,” said John Miller, Managing Director, Co-Head of Fixed Income, Nuveen Asset Management.
These funds join two other Nuveen Mutual Funds that have been awarded the 2016 Thomson Reuters Lipper Fund Award.
“We are pleased to receive this recognition as it demonstrates both the consistency of our funds’ performance throughout various market cycles and the value we can provide investors who are seeking diversified income-oriented investment solutions aligned with their specific portfolio needs,” said Margo Cook, Co-President, Nuveen Investments.
Reinventing Retirement Income
As millions of Americans begin to enter or prepare for what may be a decades-long retirement, the need to replace their regular paychecks with investments that provide sufficient and reliable monthly income has become a critical component of their financial planning efforts. Nuveen’s municipal bond strategies are part of a robust and diversified suite of income-oriented strategies designed to help address and meet investors’ long-term income needs. To learn more about these strategies and the various issues investors should consider with their advisors, please visit Reinventing Retirement Income.
Nuveen’s Family of Mutual Funds
The Nuveen Investments family of mutual funds offers investing strategies designed to contribute to a well-constructed diversified portfolio. With more than $60 billion in more than 100 mutual funds as of December 31, 2015, Nuveen Investments draws upon the distinct investment strengths of its affiliate investment managers:
- Nuveen Asset Management—Global Fixed Income, Equity and Alternative Investments
- Symphony Asset Management—Corporate Valuation Experts
- NWQ Investment Management—Value Investors
- Santa Barbara Asset Management—Dividend-Focused Growth Equity
- Tradewinds Global Investors—Global Value Equity
- Winslow Capital Management—Large Cap Growth Equities
- Gresham Investment Management—Commodities
Further, Nuveen Investments is pleased to distribute the mutual fund strategies of TIAA Global Asset Management, bringing the best capabilities of each fund complex to clients through a single Nuveen distribution platform.
TIAA Investments was recognized by Lipper as the 2016 Best Overall Large Fund Group for demonstrating the best three-year risk-adjusted performance across multiple asset classes among 37 mutual fund families. Unprecedented in the industry, TIAA Investments has been named the Best Overall Large Fund Group for the fourth time in as many years, having won the award in 2013, 2014, 2015 (out of 36, 48, and 48 fund families respectively), and again this year. Additionally, TIAA Investments received the 2016 Thomson Reuters Lipper Fund Award for Best Mixed-Assets Large Fund Family, the top ranking among 39 mutual fund families eligible for the award. This honor follows Nuveen’s own Best Overall Large Fund Group Award from Lipper in 2012 (out of 33 fund families).
To learn more about Nuveen’s full suite of mutual fund offerings, including TIAA funds, please click here.
Thomson Reuters Lipper Fund Award Calculations
In calculating the awards, Lipper considered all open-end funds registered for sale in the United States in qualifying classifications with at least 36 months of performance history as of the end of the calendar year. Awards were given to funds with a 3-, 5- and 10-year history as at the end of the evaluation year in equity, bond and mixed-asset Lipper U.S. Classifications with at least ten distinct portfolios. Both group and fund awards were calculated using Lipper’s Consistent Return score. More detailed information on the awards methodology can be found on their website at Lipper Fund Awards Methodology.
Class I Shares have no sales charge and may be purchased only by specified classes of investors. Other fund share class purchases may be subject to a front-end sales load. The total number of funds in a Lipper award classification may include multiple share classes of a single fund.
About Nuveen Investments
Nuveen provides investment solutions designed to help secure the long-term goals of individual investors and the financial advisors who serve them. Through the expertise and capabilities of its high-caliber investment managers, the firm is committed to providing world-class consultative services and advice that align with client needs. Nuveen Investments is an operating division of TIAA Global Asset Management. In total, Nuveen Investments managed approximately $225 billion as of December 31, 2015. For more information, please visit the Nuveen Investments website at www.nuveen.com.
About TIAA Global Asset Management
TIAA Global Asset Management provides investment advice and portfolio management through TIAA and more than a dozen affiliated registered investment advisers. Collectively managing $854 billion in assets, the business provides access to innovative investment strategies through expertise that spans traditional and alternative asset classes, generating new investment opportunities for clients through a wide array of vehicles including funds, customized strategies and solutions. TIAA Global Asset Management is committed to TIAA’s legacy of helping individuals and institutional clients achieve long-term investment success and financial well-being.
Past performance is no guarantee of future results. Nuveen funds considered in the Lipper Awards may have experienced negative returns during or since the rating period. Mutual fund investing involves risk; principal loss is possible. There is no guarantee that the funds' investment objectives will be achieved.
Nuveen High Yield Municipal Bond Fund concentrates in non-investment-grade and unrated bonds with long maturities and durations which carry heightened credit risk, liquidity risk, and potential for default. In addition, the fund oftentimes engages in a significant amount of portfolio leverage and in doing so, assumes a high level of risk in pursuit of its objectives. Leverage involves the risk that the fund could lose more than its original investment and also increases the fund's exposure to volatility, interest rate risk and credit risk.
Before investing, carefully consider fund investment objectives, risks, charges and expenses. For this and other information that should be read carefully, please request a prospectus or summary prospectus from your financial advisor or Nuveen Investments at 800.257.8787 or visit www.nuveen.com.
The funds feature portfolio management by Nuveen Asset Management, LLC, an affiliate of Nuveen Securities, LLC. TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products.
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