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).
Nuveen logo (PRNewsfoto/Nuveen)
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.
About the Funds:
Name and Ticker:
Nuveen High Yield Municipal Income ETF (NYSE: NHYM)
Investment Objective:
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.
Reference Benchmark:
S&P Municipal Yield Index
Portfolio Managers:
Daniel Close, CFA; Stephen Candido, CFA; Steven Hlavin; Michael McElduff; Nicholas Mueller
Name and Ticker:
Nuveen Municipal Income ETF (NYSE: NUMI)
Investment Objective:
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.
Reference Benchmark:
S&P Municipal Bond Index
Portfolio Managers:
Timothy Ryan, CFA; Paul Brennan, CFA; Michael McElduff; Nicholas Mueller
“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.
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.
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
