Company recognized for outstanding three-year risk-adjusted investment track record Latest in series of performance accolades
New York, March 18, 2013 — TIAA-CREF, a leading financial services provider, today announced that it has been named by Lipper as the 2013 Best Overall Large Fund Company.
The Lipper Fund Awards honor those fund families and individual funds that consistently deliver strong risk-adjusted returns. Lipper presents the Best Overall Large Fund Company Award to the firm demonstrating the best risk-adjusted performance for the previous three years across all major asset classes including stocks, bonds and mixed asset funds. TIAA-CREF was one of 36 large investment firms eligible for the award.
“We are a company that exists to serve the long-term financial needs of our clients, and we thank Lipper for this award,” said Carol Deckbar, executive vice president and chief operating officer, TIAA-CREF Asset Management. “It affirms our disciplined, research-based investment approach and underscores the expertise of our long-tenured team of professionals. This award is a testament to the strength of our mutual fund offerings across all asset classes.”
TIAA-CREF offers its 3.7 million individual clients a broad range of investment choices, including mutual funds and variable annuity accounts.
The Lipper Fund Award adds to several recent industry recognitions TIAA-CREF has received for its investment performance. Ninety-eight percent of the company’s mutual funds and annuities have an overall Morningstar rating of three or more stars across all asset classes based on risk-adjusted performance (45 percent three stars, 44 percent four stars and 9 percent five stars; as of Dec. 31, 2012). In addition, TIAA-CREF ranked 10th out of 62 mutual fund families in the 2012 Barron’s/Lipper fund family ranking, based on asset-weighted performance.
Lipper has previously acknowledged the success of TIAA-CREF’s mutual funds. The TIAA-CREF Growth and Income Fund, Institutional Class was named Best Fund Over the Past Five Years in the large-cap core category in 2010 (out of 655 funds) and 2008 (out of 565 funds). The award recognizes risk-adjusted performance.
Lipper Fund Award Methodology
Lipper considered funds registered for sale in the United States with at least 36 months of performance as of the end of the calendar year of the respective evaluation year. Fund groups with at least five equity, five bond or three mixed-asset portfolios in the respective asset classes are eligible for a group award. The award is given to the group with the lowest average decile ranking of the three years’ Consistent Return measure of the eligible funds as of November 30, 2012. TIAA-CREF was ranked among 36 fund companies.
TIAA-CREF (www.tiaa.org) is a national financial services organization with $502 billion in assets under management (as of Dec. 31, 2012) and is the leading provider of retirement services in the academic, research, medical and cultural fields.