Previously known as TIAA-CREF, Teachers Insurance and Annuity Association of America Fund (TIAA) was founded by Andrew Carnegie in 1918. TIAA had $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.
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 around 16,000 institutional investors. The company has investments in more than 50 nations, with about 397 offices located in 19 countries.
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.
TIAA-CREF Real Estate Securities Fund Premier (TRRPX – Free Report) invests heavily in equity securities issued by companies engaged in the real estate industry. TRRPX may also invest almost 15% of its assets in real estate securities of non-U.S. issuers and almost one-fifth of its assets in equity and debt securities of issuers that are not related to the real estate industry. TIAA-CREF Real Estate Securities Fund Premier has three-year annualized returns of 5.4%.
David Copp has been the fund manager of TRRPX since 2005.
TIAA-CREF Mid-Cap Value Premier (TRVPX – Free Report) invests heavily in equity securities of mid-cap companies that are believed to be undervalued according to Teachers Advisors, Inc. TRVPX seeks a high level of total return through capital growth. TRVPX focuses on acquiring equities of companies that are located in the United States and having market capitalization within the range of the Russell Midcap Value Index. TIAA-CREF Mid-Cap Value Premier fund has three-year annualized returns of 6.3%.
TRVPX has an expense ratio of 0.54% as compared to category average of 1.11%.
TIAA-CREF Tax-Exempt Bond Retail (TIXRX – Free Report) invests a huge portion of its assets in certain types 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 three-year annualized returns of 1.1%.