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Post by perrywinkle on Aug 27, 2021 19:22:40 GMT
NHMAX is closing to new investors on Sept 30,2021. Existing shareholders will be able to continue to buy shares. link |
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Post by yogibearbull on Aug 27, 2021 19:32:22 GMT
Its CEF cousin is NMZ - same manager & style, just a different wrapper.
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Post by Chahta on Aug 27, 2021 20:37:11 GMT
Thanks for posting.
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Post by yogibearbull on Sept 3, 2021 15:58:40 GMT
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Post by Chahta on Sept 3, 2021 16:14:57 GMT
It makes sense to me that if demand lowers for low qual munis then rates would need to rise to make them desirable for funds to purchase. Not too bad.
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Post by Chahta on Oct 31, 2021 12:20:09 GMT
Evidently it didn't close. I just did a test trade at Schwab.
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Post by yogibearbull on Oct 31, 2021 12:38:42 GMT
It is a soft close that allows existing holders to add, the fund remains open via advisors, in workplace retirement plans, etc. But it should be closed to new people at 3rd party brokers (Fido, Schwab, etc). connect.rightprospectus.com/Nuveen/TADF/67065Q749/SP?site=MFEdit/Add: Checked Fido and Schwab - it is closed to new investors but open to existing holders. Test for new investors may fail in the final/submit screen. |
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Post by Chahta on Oct 31, 2021 13:12:59 GMT
Interesting that I can buy it in my IRA but not my taxable account. Just entered a successful order. Odd.
Edit: it was a test purchase then cancelled.
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Post by chang on Oct 31, 2021 13:20:23 GMT
Interesting that I can buy it in my IRA but not my taxable account. Just entered a successful order. Odd. Not at Fido, I presume. Fido prohibits buying muni funds in IRAs (er, with good reason). |
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Post by Chahta on Oct 31, 2021 13:53:36 GMT
If distributions are reinvested they are no longer tax exempt. It simply becomes a TR investment. NHMAX has done 7.75% this year. How many other bond OEFs have done that? What am I missing?
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Post by yogibearbull on Oct 31, 2021 14:16:18 GMT
Most brokers don't allow muni purchases online in IRAs. But if one calls and explain (why a tax-exempt instrument is being put in tax-deferred account), broker may allow that as one-time or standing exception. Broker wants to make sure that the investor knows what he/she is doing and won't blame the broker later for his own action.
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Post by Chahta on Oct 31, 2021 14:20:56 GMT
YBB, is there a downside?
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Post by yogibearbull on Oct 31, 2021 14:34:46 GMT
Chahta , there are rare times when this may be OK and one can ignore duplication of tax protections. So, munis in IRAs, annuities in IRAs/401k/403b, etc may make sense, but not always.
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