NEW
YORK, Jan. 22, 2025 /PRNewswire/ -- Nuveen, the
investment manager of TIAA, is expanding access to its flagship
municipal investment platform with the launch of two
actively-managed exchange-traded funds (ETFs).
These launches underscore the firm's commitment to delivering
its renowned expertise in muni credit analysis, selection, and
active management across the spectrum of product wrappers to meet
the portfolio construction goals of investors across wealth and
institutional audiences. With nearly $200
billion in assets under management (AUM), Nuveen's
municipals platform provides access to the asset class via mutual
funds, closed-end funds, ETFs, separately managed accounts, model
portfolios and an interval fund, providing investors the
flexibility to invest in the vehicle that best meets their
needs.
Today's universe of municipal bond issuers extends to more than
80,000 borrowers and 1.5 million individual
securities. Nuveen's award-winning research and investment
management team is dedicated to helping investors navigate the
complexities of the asset class by identifying attractive
opportunities and capitalizing on market inefficiencies, seeking to
deliver income and long-term outperformance.
The two new ETFs seek to provide tax-exempt income to meet
investor demand for unlevered high yield and investment grade muni
strategies.
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About the
Funds:
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Name and
Ticker:
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Nuveen High Yield
Municipal Income ETF (NYSE: NHYM)
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Investment
Objective:
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Primarily invests in
high yield municipal bonds with opportunistic exposure to
investment grade municipal securities. Seeks to maximize total
return through income exempt from regular federal income taxes and
capital appreciation.
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Reference
Benchmark:
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S&P Municipal Yield
Index
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Portfolio
Managers:
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Daniel Close, CFA;
Stephen Candido, CFA; Steven Hlavin; Michael McElduff; Nicholas
Mueller
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Name and
Ticker:
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Nuveen Municipal
Income ETF (NYSE: NUMI)
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Investment
Objective:
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Primarily allocates to
longer duration municipal bonds, mainly in investment grade
securities with opportunistic exposure to below investment grade
securities. Seeks to maximize total return through income exempt
from regular federal income taxes and capital
appreciation.
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Reference
Benchmark:
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S&P Municipal Bond
Index
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Portfolio
Managers:
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Timothy Ryan, CFA; Paul
Brennan, CFA; Michael McElduff; Nicholas Mueller
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"The NHYM and NUMI strategies bring two of our highest
conviction active strategies to market in the wrapper that is
increasingly in-demand by muni investors," said Daniel Close, Head of Municipals at Nuveen.
"NUMI directly answers the significant appetite in the market for
longer duration allocations and NHYM has been created for those
investors seeking additional yield."
Understanding underlying fundamental credit risk within the muni
space is critically important to providing consistent tax-exempt
income to investors. These products will deliver the full scale of
Nuveen's muni platform, highlighting the team's ability to
tactfully adjust exposure to sectors such as healthcare, higher
education, and infrastructure projects while uncovering opportunity
through bottom-up credit analysis to identify specific projects
with additional return potential.
About Nuveen's Municipal Platform
Nuveen is an
industry leader ranking among the largest municipal fund managers,
with nearly 80 investment professionals averaging 22 years of
experience. The firm's specialized municipal credit research team
is among the largest and most experienced in the asset class and
was recently named the #1 team in the 2024 Smith's All-Star
Municipal Analysts Awards1.
About Nuveen's ETF Suite
The addition of these
two active strategies brings Nuveen's ETF lineup to a total of 25
funds with $10.2 billion in
AUM2. The suite provides investors access to equities,
fixed income and REITs and includes 11 actively managed ETFs
and 14 index-tracking ETFs.
Media Contact
Sally
Lyden | Sally.Lyden@nuveen.com | 646.984.1913
About Nuveen
Nuveen, the investment manager of
TIAA, offers a comprehensive range of outcome-focused investment
solutions designed to secure the long-term financial goals of
institutional and individual investors. Nuveen has $1.3 trillion in assets under management as of
30 Sept 2024 and operations in 27
countries. Its investment specialists offer deep expertise across a
comprehensive range of traditional and alternative investments
through a wide array of vehicles and customized strategies. For
more information, please visit www.nuveen.com.
This document is not an offer to sell securities and is not
soliciting an offer to buy securities in any jurisdiction where the
offer or sale is not permitted. We may not sell securities for a
fund until the registration statement filed with the Securities and
Exchange Commission is effective.
Exchange-Traded Funds (ETFs) may not be marketed or advertised
as an open-end investment company or mutual fund. Shares of ETFs
are bought and sold at market price as opposed to net asset value.
As a result, an investor may pay more than net asset value when
buying and receive less than net asset value when selling. In
addition, brokerage commissions will reduce returns. Fund shares
are not individually redeemable directly with the Fund, but blocks
of shares may be acquired from the Fund and tendered for redemption
to the Fund by certain institutional investors in Creation
Units.
Investing involves risk; principal loss is possible.
Fixed-income securities may be susceptible to general movements in
the bond market and are subject to credit and interest rate
risks.
These and other risk considerations, such as active management,
high yield securities, tax, market, issuer and income volatility
risks, are described in detail in the Fund's prospectus.
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 professional
or Nuveen at 888.849.5734 or visit nuveen.com.
Nuveen Fund Advisors, LLC serves as the Fund's adviser and
Nuveen Asset Management, LLC serves as the Fund's sub-adviser; both
the adviser and sub-adviser are subsidiaries of Nuveen, LLC. Nuveen
Securities, LLC, member FINRA and SIPC.
CFA® and Chartered Financial Analyst® are
registered trademarks owned by CFA Institute.
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1 Smith's
All-Star Municipal Analyst Awards Program is the only program that
consistently and prominently provides recognition in the municipal
space. Smith's Research & Gradings announced the annual
awards on 04 December 2024. The program starts with the formation
of Smith's Blue Ribbon Ballot Committee of Portfolio Managers.
Members of the committee nominate the nation's leading municipal
analysts to the ballot. Once the ballot nominations for the 29
different categories are compiled and verified, the final ballot is
sent to 1,000 institutional investors for voting. The entire
process is transparent, and the voting increases the
democratization of the municipal bond market. Please
see https://www.smithsresearch.net/events/smiths-municipal-all-star-awards
for more information.
2 As of September 30, 2024
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SOURCE Nuveen
