How to keep the IRS at bay and pocket more profits. Is there any greater misery for an investor than to pay stiff taxes on a lousy portfolio? Nuveen NWQ Large-Cap Value is a clunker of a fund, lagging the S&P 500 index by 5.6 percentage points a year over the past five years. Still, it managed to disgorge on its hapless customers $10.46 a share in capital gains in December. That was just about half the assets of the fund. Result: Federal taxes over the past year would have eaten away 14% of a stake in this fund held by a high-bracket investor, Morningstar calculates.
展开▼
