Nuveen Municipal Income Fund (NYSE:NMI) is a diversified closed-end management investment company that seeks to provide high current income exempt from regular U.S. federal income tax. The fund primarily invests in a broad portfolio of municipal securities, including investment-grade and below investment-grade bonds, and may also allocate to other fixed income instruments. Managed by Nuveen, NMI leverages the firm’s deep municipal expertise to target tax-efficient income opportunities across various sectors of the municipal market.
The fund’s core strategy emphasizes revenue-backed and general obligation bonds issued by states, municipalities, and other political subdivisions. By blending short, intermediate, and long-term maturities, NMI aims to optimize yield while managing interest rate and credit risk. The portfolio management team also incorporates relative value analysis and fundamental credit research to identify undervalued issues and enhance risk-adjusted return potential within the municipal landscape.
Launched in the late 2000s, Nuveen Municipal Income Fund draws on Nuveen’s heritage dating back to 1898, when the firm first entered the municipal bond market. Structured as a Delaware-incorporated closed-end fund, NMI trades on the New York Stock Exchange under the ticker NMI. Over its history, the fund has navigated multiple interest rate environments and credit cycles, benefiting from Nuveen’s global fixed income resources and dedicated municipal research capabilities.
While the fund’s primary geographic focus is on U.S. issuers, it may also invest in securities from U.S. territories and qualified private activity bonds that finance essential public infrastructure. The investment team is part of Nuveen’s Municipal Fixed Income group and is overseen by a leadership cadre with decades of combined experience in credit analysis and portfolio management. An independent board of directors provides governance oversight, ensuring that the fund’s policies and objectives remain aligned with the interests of its shareholders.
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