Nuveen Investments launches Inflation-Protected Municipal Bond fund

By Toni Weeks

San Diego, June 20 - Nuveen Investments has launched the Nuveen Inflation-Protected Municipal Bond fund, according to a press release.

Managed by Nuveen Asset Management, the new fund is designed to help protect its portfolio of intermediate-term investment-grade municipal bonds from the negative effects of increasing inflation. For taxable investors, the fund seeks a more tax-efficient approach to managing inflation risk through its use of derivatives such as Consumer Price Index swaps over Treasury Inflation-Protected securities.

The fund, which is now available to retail investors, is co-managed by Dan Close and Doug Baker.

Close is senior vice president and portfolio manager of many of Nuveen's state-specific open-end municipal bond funds as well as several closed-end funds. Previously, he was a research analyst covering corporate-backed, energy, transportation and utility credits. Close received his undergraduate degree in business from Miami University and his master's degree in business administration at Northwestern University.

Baker is a senior vice president and portfolio manager for the Nuveen Preferred Securities fund and also manages Nuveen Asset Management's derivative overlay group, where he implements derivatives-based hedging strategies across the Nuveen fund complex. He received his undergraduate degree in finance from the University of Illinois and his MBA in finance and economics from University of Chicago.

Nuveen is a Chicago-based investment management firm.

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