Recognition highlights consistent three-year performance versus industry peers
NEW YORK, March 21, 2014 – For the second consecutive year, Lipper has designated TIAA-CREF as the Best Overall Large Fund Group, highlighting the firm’s commitment to offering best-in-class mutual fund products across asset classes.
The award recognizes TIAA-CREF for having the best overall risk-adjusted three-year performance versus other large fund families. The award was presented to Robert Leary, executive vice president, TIAA-CREF, and president, TIAA-CREF Asset Management, during the 2014 Lipper Fund Awards ceremony in New York on March 20, 2014. TIAA-CREF was one of 48 mutual fund families eligible for the award. 1
“The Lipper award reflects the strength and hard work of our investment team, as well as our ongoing commitment to delivering superior results for our clients over the long term,” said Leary. “Asset management has been a core competency of TIAA-CREF since our founding. This recognition underscores the strong investment culture we have built over time to serve our mission.”
TIAA-CREF mutual funds are built on more than 95 years of investment experience and a commitment to helping clients achieve lifelong financial well-being through a disciplined, research-based approach to asset management. The funds, which have some of the lowest expense ratios in the industry 2 , include equity, fixed income, target-date, target-risk and multi-asset class funds.
In addition to this accolade from Lipper, TIAA-CREF mutual funds also have strong Morningstar track records. Ninety-seven percent of TIAA-CREF’s funds and variable annuity accounts received a Morningstar overall rating of three, four or five stars across all asset classes. (As of Dec. 31, 2013, 43 percent have three stars, 37 percent have four stars, and 17 percent have five stars.). 3
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $564 billion in assets under management (as of 12/31/2013) and is the leading provider of retirement services in the academic, research, medical and cultural fields.
About the Lipper Fund Awards
The Lipper Fund Awards are part of the Thomson Reuters Awards for Excellence, a global family of awards that celebrate exceptional performance throughout the professional investment community. The Thomson Reuters Awards for Excellence recognize the world's top funds, fund management firms, sell-side firms, research analysts and investor relations teams. The Thomson Reuters Awards for Excellence also include the Extel Survey Awards, the StarMine Analyst Awards and the StarMine Broker Rankings. For more information, please contact firstname.lastname@example.org or visit excellence.thomsonreuters.com.
1 The Lipper Award is given to the group with the lowest average decile ranking of three years’ Consistent Return for eligible funds over the three-year period ended 11/30/12 and 11/30/13, respectively. TIAA-CREF was ranked against 36 fund companies in 2012 and 48 fund companies in 2013 with at least five equity, five bond, or three mixed-asset portfolios. Past performance does not guarantee future results. For current performance and rankings, please visit the Research and Performance section on tiaa-cref.org.
2 The expense ratio on all mutual fund products and variable annuity accounts managed by TIAA-CREF is generally less than half the mutual fund industry average. (Seventy percent are less than half their respective Morningstar Universe average, and 60 percent are less than half their Morningstar Universe median). Source: Morningstar Direct, Dec. 31, 2013. Our mutual fund and variable annuity products are subject to various fees and expenses, including but not limited to management, administrative and distribution fees; our variable annuity products have an additional mortality and expense risk charge.
3 Morningstar ratings include Retail, Retirement, Premier and Institutional fund share classes; CREF Variable Annuity Accounts; and the Life Funds. Please note Morningstar rates CREF group variable annuities within the open-end mutual fund universe. Current rankings may be higher or lower on a monthly basis. Morningstar is an independent service that rates mutual funds and variable annuities. The top 10 percent of accounts in an investment category receive five stars, the next 22.5 percent receive four stars, and the next 35 percent receive three stars. Morningstar proprietary ratings reflect historical risk-adjusted performance and can change every month. They are calculated from the account’s three-, five- and 10-year average annual returns in excess of 90-day Treasury bill returns with appropriate fee adjustments, and a risk factor that reflects subaccount performance below 90-day T-bill returns. The overall star ratings are Morningstar’s published ratings, which are weighted averages of its three-, five- and 10-year ratings for periods ended Dec. 31, 2013. Past performance cannot guarantee future results. For current performance and rankings, please visit https://www.tiaa-cref.org/public/tcfpi/InvestResearch.
You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 877-518-9161 or log on to www.tiaa-cref.org for product and fund prospectuses that contain this and other information. Please read the prospectuses carefully before investing.
Past performance does not guarantee future results.
TIAA-CREF products may be subject to market and other risk factors. See the applicable product literature for details.
Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.
TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products.