The new TIAA International Opportunities Fund searches both developed and emerging foreign markets to identify companies experiencing a structural growth opportunity driven by differentiated products and/or services.
Companies owned by the Fund have the potential to redefine themselves, perhaps even their industry. Early recognition of the opportunity, and the potential for significant positive results, is an important part of the Fund’s investment approach, along with assessing a firm’s management team and ability to sustain competitive advantages.
An experienced portfolio manager backed by global research expertise
Portfolio manager Jason Campbell has more than 15 years of international equity investment experience in both developed (Europe, Japan, Asia, and Canada) and emerging (Asia and Latin America) markets. He’s been successfully managing international equity portfolios at TIAA since 2009 and leverages the full support of TIAA’s global equity research team of approximately 40 sector analysts and 12 research assistants. This team provides coverage for the vast majority of companies in the Fund’s investment universe.
Campbell applies a disciplined investment process combining bottom-up stock selection with top-down/macro analysis to identify compelling trends and opportunities. While portfolio holdings are the result of bottom-up stock picking, the Fund also aims to be diversified geographically and among industries and sectors.
The portfolio seeks to own companies that
Emphasizing positive structural change, growth sustainability, and early identification of investment opportunities, the TIAA International Opportunities Fund may be appropriate for long-term investors seeking the benefits of diversification and enhanced return potential.
1.TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services Inc. distribute securities products.
2.Portfolios within each strategy are subject to certain risks, such as market and investment style risk. Please consider all risks carefully prior to investing.
Foreign investing involves certain risks, including currency fluctuations and controls, restrictions on foreign investments, less governmental supervision and regulation, less liquidity, and the potential for market volatility and political instability.
The risks associated with foreign investments are often magnified in emerging markets where there is greater potential for political, currency, and economic volatility. Securities issued in emerging market nations may be less liquid than those issued in more developed countries and foreign investors in these markets, such as this Fund, may be subject to special restrictions which could have an adverse impact on performance.
3.The Fund is benchmarked to an appropriate market index. The benchmark is defined as follows:
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. With more than 1,800 companies, the index covers approximately 85 percent of publicly traded market capitalization outside the United States (Source: MSCI). The 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).