Teachers Insurance and Annuity Association of America Fund (TIAA), previously known as TIAA-CREF, was founded in 1918. Nuveen, the investment management arm of TIAA, seeks to offer financial services pertaining to investment advice and portfolio management to more than five million customers and at least 16,500 employees. This Andrew Carnegie-led company has investments in more than 50 nations with about 397 offices located in 19 different countries.
TIAA had more than $1 trillion in assets under management as of Dec 31, 2017. A major portion of its assets is allocated to stocks and fixed income securities. In fact, the fund family won the Thomson Reuters Lipper Best Mixed Assets Large Fund Company award for three straight years, including 2018, and the Best Overall Large Fund Company award for six consecutive years, including 2018.
Below we share with you three top-ranked TIAA Mutual Funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform its peers in the future. Investors can click here to see the complete list of TIAA Mutual Funds.
TIAA-CREF Real Estate Securities Fund Premier (TRRPX – Free Report) seeks capital growth and current income by heavily investing in equity securities of companies engaged in the real estate industry. TRRPX may also invest almost 15% of its assets in real estate securities of foreign businesses and almost one-fifth of its assets in equity and debt securities of companies that are not related to the real estate industry. TIAA-CREF Real Estate Securities Fund Premier has three-year annualized returns of 7.3%.
TRRPX has an expense ratio of 0.66% compared with the category average of 1.21%.
TIAA-CREF Growth & Income Retail (TIIRX – Free Report) aims to grow capital and income by investing a major portion of its assets in equity securities of large-cap, income-generating companies. TIIRX invests 80% of its assets in equity securities. TIAA-CREF Growth & Income Retail has three-year annualized returns of 10.3%.
As of October 2018, TIIRX held 317 issues, with 4.68% of its assets invested in Apple Inc.
TIAA-CREF Tax-Exempt Bond Retail (TIXRX – Free Report) aims for high current income that is exempted from regular federal income tax. TIXRX invests a huge part of its assets in municipal securities such as tax-free bonds. TIAA-CREF Tax-Exempt Bond Retail has three-year annualized returns of 1.3%.
Joel Levy is the fund manager of TIXRX since 2015.
To view the Zacks Rank and past performance of all TIAA Mutual Funds, investors can click here to see the complete list of TIAA Mutual Funds.
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