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 Large-Cap Value Retirement (TRLCX - Free Report) invests the majority of its assets in securities of the U.S. based large-cap companies. TRLCX invests in companies with market capitalization identical to those included on the Russell 1000 Value Index. TRLCX invests in securities of companies that are believed to be undervalued. TRLCX may invest a maximum of 20% of its assets in securities of companies that are located in foreign lands. The TIAA-CREF Large-Cap Value Retirement fund has three-year annualized returns of 8.5%.
TRLCX has an expense ratio of 0.65% as compared with the category average of 1.00%.
TIAA-CREF Tax-Exempt Bond Retail (TIXRX - Free Report) invests a huge part of its assets in a type of municipal securities like tax-free bonds. The fund focuses on investing in bonds that are exempted from federal income tax as well as federal alternative minimum tax. TIAA-CREF Tax-Exempt Bond Retail has returned 1.7% in the last three years.
As of June 2018, TIXRX held 225 issues, with 1.33% of its assets invested in CALIFORNIA ST 0.05%.
TIAA-CREF Large-Cap Value Premier (TRCPX - Free Report) seeks a high level of returns primarily through growth of capital. TRCPX invests a huge chunk of its assets in equity securities of large-cap companies, which are expected to be undervalued. The fund invests in companies as defined by the fund's benchmark Russell 1000 Value Index. TIAA-CREF Large-Cap Value Premier has three-year annualized returns of 8.6%.
Richard Cutler is one of the fund managers of TRCPX since 2002.
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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