FNMRX

About FNMRX

Nuveen New Mexico Municipal Bond Fund Class I is a mutual fund specializing in investment-grade municipal bonds primarily from issuers within New Mexico. Its primary objective is to deliver a high level of current interest income that is generally exempt from regular federal and New Mexico state income taxes, and in some cases, local taxes as well. By focusing on municipal bonds, the fund channels capital into public infrastructure and community projects like education, healthcare, utilities, and public finance improvements within the state. The fund typically maintains a diversified portfolio, with notable allocations to issuers such as local government authorities, educational institutions, and specialized public service facilities. It is particularly tailored to meet the income and tax-exempt needs of investors seeking exposure to New Mexico’s municipal credit markets, offering effective duration and risk management strategies in the context of the single-state municipal bonds sector. This fund plays a significant role in supporting local development while offering investors a vehicle for tax-advantaged income generation and capital preservation.