Nuveen New Mexico Municipal Bond Fund;A (FNMTX)
Nuveen New Mexico Municipal Bond Fund;A operates in the Asset Management industry of the Financial Services sector, headquartered in Chicago, IL, US. The stock last traded at $9.01, down 0.55% on the session, giving a market capitalisation of $67.4M. Its beta of 1.01 implies it has historically moved more than the broad market.
The fund's primary objective is to generate a high level of current income, free from federal, New Mexico state, and, in some instances, New Mexico local income taxes, while prioritizing the preservation of capital. Under typical market conditions, at least 80% of its net assets are invested in municipal bonds considered investment-grade. These bonds must possess a rating of BBB/Baa or higher from at least one independent rating agency when purchased, or if unrated, be deemed of equivalent quality by the fund's sub-adviser. The portfolio may also allocate up to 20% of its net assets to municipal bonds that are below investment grade, commonly referred to as "high yield" or "junk" bonds.
Nuveen New Mexico Municipal Bond Fund;A is most often compared with the following Financial Services names: