This back-to-school season, Nuveen sees opportunity in a corner of the education muni bond market.
There's a small part of the municipal bond market that could provide a big opportunity to investors, according to Nuveen. Charter schools are just a fraction of the education muni bond landscape, but increasing demand for the schools should result in strong supply, said Dan Close, the firm's head of municipals and lead portfolio manager for high-yield municipal strategies.
mountain Nuveen High Yield Municipal Bond Fund Charter school bonds fund construction, renovation or the purchase of school facilities. The interest is exempt from federal tax and, in some cases, the bonds are free of state taxes as well. While charter schools are nothing new, there's been an acceleration in demand thanks to the pandemic and legislation in states that supports school choice, Close pointed out. There are currently about 8,000 charter schools in the United States serving 3.
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