Previously known as TIAA-CREF, Teachers Insurance and Annuity Association of America Fund (TIAA) was founded by Andrew Carnegie in 1918. TIAA had $1.3 trillion in assets under management as of Dec 31, 2021. A major portion of its assets is allocated to stocks and fixed income securities.
Nuveen, the investment management arm of TIAA, offers 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 258 offices located in 26 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. Investors can click here to see the complete list of TIAA Mutual Funds.
TIAA-CREF Growth & Income Fund Premier Class TRPGX seeks to achieve long-term total return through both appreciation capital and investment income. The fund invests the lion’s share of its assets in equity securities that its adviser believes have the potential for capital appreciation, dividend income, or both. It focuses on large-cap securities that have the potential to appreciate faster and provide returns to shareholders in the form of dividends, stock buy-backs or both. TRPGX has three-year annualized returns of 16.3%.
TRPGX has an expense ratio of 0.55% compared with the category average of 0.84%.
TIAA-CREF Lifecycle Retirement Income Fund Retail Class TLRRX seeks maximum total returns over the long run through income, with capital appreciation as its secondary focus. This fund of funds invests in Class W shares of other funds of the Trust as well as in other investment pools or investment products. It is designed for investors who are already in retirement and may have begun taking systematic withdrawals upon retirement. TLRRX has three-year annualized returns of 8.5%.
As of the end of July 2021, TLRRX held 22 issues, with 21% of its assets invested in TIAA-CREF Core Bond W.
TIAA-CREF Mid-Cap Growth Fund Retail Class TCMGX aims for a favorable total return over a long period of time. The fund invests the majority of its assets in securities of medium-sized domestic companies as defined by the Russell Midcap Growth Index, which the investment adviser believes has the opportunity for growth. TCMGX has three-year annualized returns of 22%.
Adrian Almazan is one of the fund managers of TCMGX since 2019.
To view the Zacks Rank and past performance of all TIAA Mutual Funds, investors can click here to see the complete list of TIAA Mutual Funds.
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