John Nuveen & Co. announced plans Tuesday to introduce two mutual funds built around corporate bonds.
The Nuveen Income Fund should be open to investors Dec. 1, and the Nuveen Dividend and Growth Fund should be available by the end of the year, said Edward F. Neild, a vice president.
The spread between corporate bonds and Treasury bonds makes this the right time for such funds, Mr. Neild said. "The taxable fixed-income markets are now extremely attractive," he said.
The Income Fund will aim for stable high income from mostly investment- grade corporate bonds, and 20% to 40% of the Dividend and Growth Fund portfolio will be in equities.
Nuveen plans to start marketing the funds in the first quarter.