NMAI - NMAI: Despite Consistent High Yield And Discount This Fund Fails To Impress

May, 01 2023 04:51 AM Nuveen Multi-Asset Income Fund of Beneficial Interest

2023-05-01 04:51:57 ET

Summary

NMAI is an interesting fund that invests in a broad range of assets, with a policy to invest even more dynamically when possible.
NMAI underperformed in 2022. Its investment performance since inception on November 22, 2021, has been dismal, too, with a 46 percent price decline.
In absence of NAV growth, NMAI has been compelled to use a high ROC to cover its distribution. Due to this, its high yield doesn’t seem to be sustainable.
NMAI employs an active trading strategy with a turnover ratio of 129%. As a result of this, it has to incur a very high expense ratio of 1.87%.
NMAI has been consistently trading at deep discount throughout its existence and this is most likely to continue until a wider market recovery takes place.

For further details see:

Company Name:	Nuveen Multi-Asset Income Fund of Beneficial Interest
Stock Symbol:	NMAI
Market:	NYSE