Nuveen Floating Rate Income Fund Class I
NFRIX
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 Class I (NFRIX) is a mutual fund that seeks a high level of current income, with capital appreciation as a secondary objective, by investing primarily in below investment-grade floating-rate loans and other floating-rate debt securities; floating-rate securities include adjustable-rate senior loans (both secured and unsecured), corporate debt securities, U.S. government securities, money market securities, and shares of money market or short-term bond funds. Under normal market conditions, the fund normally invests at least 80% of the sum of its net assets and any borrowings for investment purposes in such floating-rate securities, with a portfolio that typically allocates over 80% to bank loans, around 12% to corporate bonds, and the remainder to cash equivalents and preferred stock. Launched with an inception date of May 2, 2011, the fund is managed by Nuveen Fund Advisors, LLC, a subsidiary of Nuveen, LLC, which is headquartered at 333 West Wacker Drive, Chicago, Illinois, and operates within the bank loan category targeting income-seeking investors exposed to below-investment-grade credit risk. The fund serves institutional and high-net-worth investors through its Class I shares, which require a minimum initial investment of $100,000, and maintains total assets of approximately $1.6 billion to $2.03 billion across share classes, with a net expense ratio of 0.74% and a portfolio turnover of 24%. Geographically, it focuses on U.S.-based securities, including floating-rate loans issued by domestic corporations, while Nuveen's parent structure under TIAA supports global investment operations from its Chicago headquarters. In recent developments, the related Nuveen Floating Rate Income Fund closed-end vehicle (NYSE: JFR), sharing the same investment objective and strategy, announced and completed a rights offering in early 2025, approved by its Board of Trustees on January 8, 2025, with preliminary results reported on February 20, 2025, aimed at raising additional assets to capitalize on attractive valuations in performing senior loans below par, thereby enhancing portfolio yields and investment opportunities for shareholders. This capital-raising initiative reflects ongoing strategic efforts to optimize income generation amid resilient interest rate environments favoring floating-rate instruments. The fund continues to emphasize monthly distributions, with recent examples including $0.085 per share ex-dividend dates in October and November 2025, underscoring its focus on reliable current income.