Nuveen Select Maturities Municipal Fund (NYSE: NIM) is a closed-end investment fund managed by Nuveen, a leading asset manager specializing in fixed income strategies. The fund’s primary objective is to provide shareholders with a high level of current income that is exempt from federal income tax, while also seeking to preserve capital. It pursues this goal by investing in a diversified portfolio of investment-grade municipal securities, selected for their credit quality and maturity profiles.
The portfolio mainly consists of U.S. state and local government bonds, including general obligation, revenue, and essential-service municipal issues. Nuveen’s experienced municipal bond team actively manages the fund’s duration and sector weightings, aiming to optimize risk-adjusted returns across varying interest-rate environments. To potentially enhance income, the fund utilizes leverage via preferred shares and other senior securities, under strict oversight to manage leverage costs and maintain the quality of its underlying holdings.
Since its inception, Nuveen Select Maturities Municipal Fund has benefited from the broader strengths of its parent company, TIAA-affiliated Nuveen, which has been a prominent participant in the municipal bond market for decades. The fund’s governance structure includes an independent board of trustees responsible for overseeing investment policies, expense controls, and compliance with regulatory requirements. This framework is designed to align the interests of management with those of shareholders over the long term.
Geographically, the fund’s investments span a wide range of states and municipalities across the United States, offering exposure to both well-established issuers and selective high-growth regions. Under the leadership of Nuveen’s municipal bond specialists, the fund has built a track record of navigating credit cycles and delivering tax-exempt income to investors. Regular portfolio reviews, credit research, and risk management processes are central to the fund’s strategy, ensuring disciplined investment decisions in pursuit of its stated objectives.
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