New fund offers diversification and growth opportunity that can help investors achieve lifelong financial well-being
NEW YORK, April 17, 2013 – TIAA-CREF, a leading financial services provider, today announced the launch of the TIAA-CREF International Opportunities Fund (TIOIX, TIOTX, TIOSX, TIOPX), the company’s first actively managed mutual fund focused on international stocks in both developed and emerging markets.
The International Opportunities Fund expands TIAA-CREF’s line-up of international equity mutual funds. The fund seeks to identify innovative companies that are in the early stages of redefining themselves or their industries, such as leaders in software development, cable services for developing markets, and well-financed equipment companies, among others. Investing across international markets within one fund provides clients with an opportunity for added diversification.
“At TIAA-CREF we are committed to helping our clients achieve lifelong financial well-being,” said Jason Campbell, portfolio manager, TIAA-CREF International Opportunities Fund. “By balancing proven investment strategies with innovative approaches to the market, we’re able to help investors take advantage of opportunities for long-term portfolio growth and diversification.”
The fund’s benchmark is the MSCI All Country World ex-USA Index (MSCI ACWI XUS). The benchmark consists of 23 developed and 21 emerging market country indices.1 With more than 1,800 companies, the index covers approximately 85 percent of publicly traded market capitalization outside the United States.2
“We are focused on companies executing positive changes in how they do business, those with strong market positions and ones we believe will outperform their peers,” Campbell added. “This fund allows us to bring a proven investment strategy to clients in the way that best meets their needs.”
Campbell has nearly 15 years of experience as a portfolio manager and analyst covering international stock markets. He has managed international equities at TIAA-CREF since 2009. Forty research analysts and 12 research assistants will provide company and macroeconomic research to support the fund.
TIAA-CREF began investing in international equities in 1972. The company offers five equity mutual funds that primarily invest in companies outside the United States: TIAA-CREF International Equity Fund (TIERX, TIIEX, TREPX, TRERX), TIAA-CREF International Equity Index Fund (TRIEX, TRIPX, TCIEX), TIAA-CREF Emerging Markets Equity Fund (TEMRX, TEMSX, TEMPX, TEMLX), TIAA-CREF Emerging Markets Equity Index Fund (TEQKX, TEQSX, TEQPX, TEQLX) and the TIAA-CREF Global Natural Resources Fund (TNRIX, TNRPX, TNRRX, TNRLX).
The International Opportunities Fund’s retail class shares are available for purchase through certain financial intermediaries or by contacting TIAA-CREF directly at 800-223-1200 or www.tiaa-cref.org. Retirement and premier class shares are generally available for purchase through employee benefit plans or other types of savings plans or accounts such as TIAA-CREF IRAs. Institutional class shares are available for purchase directly from TIAA-CREF by certain eligible investors or through financial intermediaries.
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $520 billion in assets under management (as of March 31, 2013) and is the leading provider of retirement services in the academic, research, medical and cultural fields.
TIAA-CREF products may be subject to market and other risk factors. See the applicable product literature, or visit www.tiaa-cref.org for details.
TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products.
You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 877-518-9161, or go to www.tiaa-cref.org for a current prospectus that contains this and other information. Please read the prospectus carefully before investing.
Funds that invest in foreign securities are subject to special risks, including currency fluctuation and political and economic instability.
Abby Aylman Cohen
1The MSCI ACWI (All Country World Index) ex-USA Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. The MSCI ACWI consists of 44 country indices comprising 23 developed and 21 emerging market country indices. The developed market country indices included are: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom. The emerging market country indices included are: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Morocco, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand and Turkey (as of Dec. 31, 2012).