Nuveen Floating Rate Income Fund Class A
NFRAX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 333 West Wacker Drive Chicago IL United States of America 60606
- IPO Date
- May 2, 2011
- CIK
- 0001071336
- Website
- nuveen.com
- Similar Companies
- Business
- Nuveen Floating Rate Income Fund (NFRAX) is a closed-end mutual fund managed by Nuveen Fund Advisors, LLC, a subsidiary of Nuveen, LLC, which operates as a leading global investment management firm focused on fixed income strategies. The fund primarily invests in floating-rate senior loans issued by corporations across various industries, including leveraged loans, second-lien loans, and other adjustable-rate debt instruments; it also allocates to high-yield bonds, collateralized loan obligations, and short-duration fixed-rate securities to enhance yield and manage interest rate risk. NFRAX targets income-oriented investors seeking higher current income with lower sensitivity to interest rate fluctuations compared to traditional fixed-rate bond funds, employing active credit selection and portfolio construction to navigate market cycles. Headquartered in Chicago, Illinois, Nuveen traces its roots to 1898 through its parent company TIAA, with the broader Nuveen organization expanding via strategic acquisitions such as the 2014 purchase of TIAA-CREF's asset management business and subsequent integrations of firms like Symphony Asset Management in 2019. The fund distributes monthly income from its portfolio yields, leveraging Nuveen's extensive research platform covering over 1,000 loan issuers globally, and operates without geographic restrictions, drawing investments from U.S. and international markets. Key customer segments include individual investors, financial advisors, institutions, and retirement plans pursuing diversified floating-rate exposure. In recent developments, Nuveen announced enhancements to its floating-rate offerings in late 2024, including expanded access to private credit opportunities and ESG-integrated loan strategies amid rising interest rates; the firm also completed a strategic partnership with an alternative credit manager in early 2025 to bolster senior loan origination capabilities. NFRAX benefited from portfolio repositioning during the 2024-2025 rate environment, reducing exposure to weaker credits while increasing allocations to investment-grade floating-rate notes. No major reorganizations or name changes have occurred within the last two years, though Nuveen continues to consolidate its fund lineup under the Nuveen Investments brand for streamlined operations.