Investment Strategy

A portfolio of primarily intermediate-term investment-grade municipal bonds that intends to maintain a weighted average duration between 4.5 to 7 years and seeks to provide as high a level of current income exempt from regular federal income taxes as is consistent with preservation of capital.*

Who should invest

Investors Seeking to:
  • Earn regular monthly dividends
  • Keep more of what they earn
  • Preserve investment capital over time

A Word On Risk

Investing in municipal bonds involves interest rate risk, the risk that interest rates will rise, causing bond prices to fall; and credit risk, the risk that an issuer of a municipal bond will be unable to make interest and principal payments. As with any mutual fund, loss of principal is a risk of investing.

Fund Basics: A Shares

Select Share Class: A | B | C | I
Fund SymbolNMBAX
Fund Cusip67065Q202
Inception Date6/13/1995
Latest NAV as of 9/02/2010$9.16
Latest Monthly Dividend (9/01/2010)$0.0280

Portfolio Manager(s)

Paul Brennan, CFA, CPA manages several national open- and closed-end funds. Mr. Brennan began his career in the investment business in 1991 when he was a municipal credit analyst, then became a portfolio manager in 1994. He joined Nuveen Investments in 1997 while at Flagship Financial which Nuveen acquired. He earned his BS in Accountancy and Finance from Wright State University. He is a CPA, has earned the Chartered Financial Analyst designation, and currently sits on the Nuveen Asset Management (NAM) Investment Management Committee. Prior to joining Flagship, Paul was employed at Deloitte & Touche within the audit group which participated in auditing mutual funds and investment advisors.

Investment Spectrum


*Some income may be subject to state and local taxes and to the federal alternative minimum tax. Capital gains, if any, are subject to tax.