Nuveen Mortgage and Income Fund (NYSE: JLS) is a closed-end management investment company that primarily invests in U.S. residential mortgage-backed securities. The fund seeks to generate current income with the potential for capital appreciation by allocating assets across a diversified portfolio of agency and non-agency residential mortgage-backed securities, adjustable-rate mortgage securities and mortgage servicing rights. To enhance returns, the fund may employ leverage through repurchase agreements, preferred shares or other financing arrangements.
Since its inception in July 2006, Nuveen Mortgage and Income Fund has focused on navigating various interest-rate and credit-cycle environments through active duration management and credit analysis. The fund’s portfolio managers assess prepayment risk, credit risk and relative value across the residential mortgage market, aiming to capitalize on sector dislocations and yield opportunities. By balancing agency securities, which carry an implicit or explicit U.S. government guarantee, with higher-yielding non-agency securities, the fund seeks to optimize its risk-adjusted income profile.
Managed by Nuveen, the investment management arm of TIAA, the fund benefits from a broad research platform and deep mortgage-market expertise. Nuveen oversees billions in mortgage assets and employs a team of fixed-income professionals dedicated to mortgage-backed securities. The firm’s global scale and credit-research capabilities support the fund’s strategy of identifying value across geographic markets within the United States, from major metropolitan areas to regionally diversified housing sectors.
Nuveen Mortgage and Income Fund serves a wide range of investors seeking income-oriented exposure to the U.S. mortgage market. The fund’s shares trade on the New York Stock Exchange, offering investors access to a professionally managed mortgage portfolio with the potential for enhanced yields relative to traditional fixed-income instruments. Through active management and strategic use of leverage, the fund aims to deliver consistent income while managing interest-rate and credit risks inherent in mortgage investments.
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