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Municipal Bonds
Nuveen as your municipal SMA investment manager
Nuveen takes a holistic, client-focused approach to investing in municipal bonds for separately managed account (SMA) portfolios, by actively managing multiple levers aiming to optimize after-tax outcomes. Beginning with clients’ individual objectives, Nuveen provides extensive customization options and a wide range of state specific and state preference portfolios. We know it is not what you earn, it is what you keep.®
Our holistic approach
Backed by Nuveen’s 125-year heritage of municipal bond investing1, we seek to optimize SMA tax-aware investing for our clients in three key areas:
- Tailor portfolios to clients’ unique situations and preferences
- Focus on tax advantages with high-quality portfolios
- Provide financial advisors with concierge-level service
Portfolios tailored to clients’ unique situations and preferences
- Prioritize client choice and flexibility
- Enhance volume and reduce trading costs through proprietary technology
Full scope of tax advantages
- Minimize federal and state tax burden
- Build portfolios for the long term
- Manage gains/losses proactively using an active portfolio strategy
Concierge-level service for financial advisor
- Highly accessible partnership throughout the relationship including education, client events and one-on-one consultation
- Prioritize client objectives and examine opportunities across maturities, credit quality and product style to help identify the most appropriate municipal solutions
- Perform portfolio reviews on bonds held away, identify areas for improvement and discuss portfolio transition ideas
Resources
Municipal SMA investment manager
1 Nuveen traces its history to 1898 when the company began underwriting municipal bonds, and TIAA was founded in 1918.
2 Investment minimums are generally $250,000 but may be lower in certain cases. Limited customizations are available for strategies that are managed as a model, or use feeless mutual funds, or are laddered portfolios. Availability may change without notice. From time to time, we may close or reopen strategies. Certain strategies may not be available to certain investors, or may be available as other investment vehicles not listed. Not all products are available at all firms. Please check with your firm for availability.
3 Utah’s reciprocity provision maintains that it will not tax income from bonds issued by states that do not tax income on Utah bonds. Nuveen can manage a portfolio for a Utah resident that considers this reciprocity provision and typically targets 50–70% across Utah bonds and/or bonds from states/territories that do not tax income on Utah bonds.
The material contained on this website is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or investment strategy and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her financial professionals.
A separately managed account (SMA) is a private portfolio of actively managed, individual securities that may be customized to achieve an individual investor's unique objectives.
SMA accounts typically require a minimum investment of $100,000 for equity and asset allocation strategies and $250,000 for fixed income strategies, although the specific minimum account size varies by program and may be subject to change. The manager may waive these minimums based on client type, asset class, pre-existing relationship with client and other factors. For certain accounts, a negotiated minimum annual fee applies. Please consult with your Nuveen Advisor Consultant for applicable minimums.
Check with your financial professional for specific product availability and performance information. This information may change without notice. From time to time, we may close or reopen strategies.
A word on risk
An investment in any municipal portfolio should be made with an understanding of the risks involved in investing in municipal bonds, such as interest rate risk, credit risk, and market risk. The value of the portfolio will fluctuate based on the value of the underlying securities. Please contact a tax advisor regarding the suitability of tax-exempt investments in your portfolio.
Nuveen Asset Management is not a tax advisor. If sold prior to maturity, municipal securities are subject to gain/losses based on the level of interest rates, market conditions and the credit quality of the issuer. Income may be subject to the alternative minimum tax (AMT) and/or state and local taxes, based on the investor’s state of residence. Income from municipal bonds held by a portfolio could be declared taxable because of unfavorable changes in tax laws, adverse interpretations by the Internal Revenue Service or state tax authorities, or noncompliant conduct of a bond issuer. 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.
Nuveen Asset Management, LLC is a registered investment adviser and an investment specialist of Nuveen, LLC.
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