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A Strong Muni Fund for Long-Haul Tax-Conscious Investors

Nuveen All-American Municipal Bond features a deep analyst team and competitive fees.

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Brian Moriarty: Long-term muni bonds are not for everybody, but if you are in the market then Nuveen All-American Municipal Bond fund is a strong choice.

The fund has a duration of over eight years, which means it is very exposed to changes in interest rates and will likely lose money if rates rise sharply. But for tax-conscious investors with a long-term holding period, the fund should outperform. As of July 31, the fund's trailing 10-year return of 5.6% annualized beat out more than 90% of peers.

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