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 four 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 Inflation Link Bd Premier (TIKPX - Free Report) seeks long-term returns that outpace inflation, mostly through investing in inflation-linked bonds. The fund invests the majority of its assets in fixed-income securities whose principal value rises or falls based on the changes in the Consumer Price Index for All Urban Consumers over the security’s lifetime. TIKPX has three and five-year annualized returns of 1.4% and 1%, respectively.
John Michael Cerra is one of the fund managers of TIKPX since 2008.
TIAA-CREF High-Yield Retail (TIYRX - Free Report) aims for high current income and capital growth when its primary objective is fulfilled. The fund primarily invests in higher-yielding fixed-income securities that are lower-rated. The fund may invest in domestic and foreign corporate bonds, loan participations and assignments and notes, debentures, preferred stocks and convertible securities. Ideally, the fund invests a majority of its securities in debt and other fixed-income securities that are rated lower than investment-grade or other debt securities that offer high yields. TIYRX has three and five-year annualized returns of 8.4% and 4.1% respectively.
TIYRX has an expense ratio of 0.62% compared with the category average of 1.02%.
TIAA-CREF Growth & Income Premier (TRPGX - Free Report) invests the majority of its assets in equity securities. It aims for good long-term total return through investment income and capital growth. The fund mostly invests in securities that the fund’s advisor believes have scope for dividend income, capital growth or both. TRPGX has three and five-year annualized returns of 12.9% and 9.8%, respectively.
As of December 2018, TRPGX held 278 issues, with 4.04% of its assets invested in Microsoft Corp.
TIAA-CREF Short-Term Bond Retail (TCTRX - Free Report) seeks high current income by investing at least 80% of its assets in domestic Treasury and agency securities and investment-grade fixed-income investments that have an average lifespan or average maturity of less than five years. TCTRX has three and five-year annualized returns of 1.6% and 1.2%, respectively.
TCTRX has an expense ratio of 0.57% compared with the category average of 0.75%.
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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