Nuveen announced in a prospectus supplemented dated Aug. 19, 2021, that Nuveen High Yield Municipal Bond NHMRX would close to new investors at the close of business on Sept. 30, 2021. In addition to allowing existing investors to continue purchasing new shares, the firm will continue to allow those investing through mutual fund rap and fee-based advisory programs utilizing the strategy and those investing in the fund through affiliated funds of funds, model portfolios, and retirement plans offering the fund to purchase new shares. The firm stated that the decision was made to moderate asset growth but did not reflect a specific capacity ceiling on the strategy; the firm announced the same changes for Nuveen California High Yield Municipal Bond NCHRX.
Nuveen High Yield Municipal Bond A NHMAX
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Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
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The People Pillar is our evaluation of the NHMAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
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Nuveen High Yield Municipal Bond Is Closing to Most New Investors; Ratings Unchanged
