Nuveen Michigan Municipal Bond Fund Class I is an institutional mutual fund specializing in investment-grade municipal bonds issued within the state of Michigan. Its primary function is to generate a high level of current interest income for investors, with distributions that are generally exempt from regular federal and Michigan state income taxes, aiming to provide tax-advantaged returns while preserving capital. The fund invests mainly in municipal securities, such as general obligation and revenue bonds, that support a range of public projects including infrastructure, education, and utilities throughout Michigan. Featuring a medium to extensive interest rate sensitivity and predominantly investment-grade credit quality, the fund’s portfolio is diversified across various Michigan issuers, concentrating a significant portion in its top holdings to address local public financing needs. As an institutional share class, it has a relatively low expense ratio and is designed for large investors, such as organizations and employee benefit plans. Nuveen Michigan Municipal Bond Fund Class I serves an important role for investors seeking stable, tax-exempt income through exposure to Michigan’s municipal bond market while contributing to the state’s public development projects.
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