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A Stronger Option for Muni Investors

Silver-rated Nuveen Intermediate Duration Municipal Bond is backed by an experienced team and a process that has produced attractive risk-adjusted returns.


Brian Moriarty: We recently initiated coverage of Nuveen Intermediate Duration Municipal Bond fund. The fund is one of the stronger options in the municipal category and has earned a Morningstar Analyst Rating of Silver.

Manager Paul Brennan has 25 years of experience and is supported by a credit analyst team of over 20 people. The fund can be more aggressive than many peers. It can invest in high-yield muni bonds and can take on up to 15% in leverage. But Brennan has managed those risks well. The fund's volatility, as measured by standard deviation, has consistently been below both in muni national intermediate Category and the Barclays Municipal Index. At the same time, the fund's performance has beaten the majority of peers over all standard trailing time periods as of May 2016.

Brian Moriarty does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.