Nuveen High Yield Municipal Bond Fund Class I
NHMRX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- Nuveen Investments Chicago IL United States of America 60606
- IPO Date
- Jun 7, 1999
- CIK
- 0001020660
- Website
- nuveen.com
- Similar Companies
- Business
- Nuveen High Yield Municipal Bond Fund Class I (NHMRX) is an open-end mutual fund that seeks high current income exempt from regular federal income taxes, with capital appreciation as a secondary objective; it invests primarily in non-investment-grade and unrated municipal bonds with a weighted average maturity exceeding 10 years. The Fund allocates at least 80% of its assets to municipal bonds whose interest is exempt from regular federal personal income tax, including lower-quality long-term municipal securities and up to 15% in municipal securities with potentially taxable interest payments; it employs a large team of credit analysts to target municipal bond market inefficiencies and strategically uses leverage through tender option bond transactions to enhance yield. Its portfolio emphasizes U.S. municipal tax-exempt bonds (approximately 89%), supplemented by cash equivalents, municipal taxable bonds, and minor corporate bond and swap exposures, serving institutional and high-net-worth investors seeking tax-advantaged high yield income. Launched on June 7, 1999, the Fund is managed by Nuveen, a TIAA subsidiary founded in 1898 and headquartered in Chicago, Illinois, with major offices in New York and Charlotte; Nuveen oversees nearly $200 billion in municipal assets under management across mutual funds, closed-end funds, ETFs, separately managed accounts, and interval funds. Recent developments include the addition of Steve Hlavin as a portfolio manager effective May 9, 2025, alongside Daniel Close and Stephen Candido, with no anticipated change to the investment strategy; this complements Nuveen's platform expansions, such as the January 2025 launch of two actively managed municipal bond ETFs (NHYM and NUMI) providing unlevered high yield and investment grade strategies, and the April 2025 introduction of the Nuveen High Income Municipal SMA strategy offering 40-60% high income bond exposure. The Fund, with total net assets of approximately $13.25 billion and a share class size of $6.59 billion, maintains a net expense ratio of 1.80% and targets U.S. state and local government issuers, including top holdings like Public Finance Authority Wisconsin Limited Obligation Pilot Revenue bonds and Puerto Rico Sales Tax Financing Corporation bonds.