FNMTX

About FNMTX

Nuveen New Mexico Municipal Bond Fund Class A is a fixed income mutual fund focused primarily on investment-grade municipal bonds issued within the state of New Mexico. Its key objective is to generate a high level of current interest income that is exempt from federal, New Mexico state, and, in certain cases, local income taxes, making it particularly relevant for investors seeking tax-advantaged income sources. The fund typically holds a diversified portfolio of bonds supporting projects such as local government infrastructure, utilities, educational institutions, and healthcare within New Mexico. While its core holdings emphasize high credit quality, the fund may allocate up to 20% of its assets to below investment grade, or "high yield," municipal bonds to potentially enhance yield. By concentrating on a single state, the fund plays a specialized role in serving residents seeking tax efficiency and supporting regional public finance. Its performance and stability are closely tied to the broader municipal bond market and the economic health of New Mexico’s public and governmental sectors.