TIAA-CREF launched the TIAA-CREF Short-Term Bond Index Fund, a passively managed, short-duration fixed income mutual fund.

In addition, the company has launched the TIAA-CREF Social Choice International Equity Fund and TIAA-CREF Social Choice Low Carbon Equity Fund, mutual funds that incorporate environmental, social and governance (ESG) criteria as part of their security selection process.

The TIAA-CREF Short-Term Bond Index Fund will seek to maintain optimal weightings with respect to securities in the index, with exposure across a broad range of sectors, while also employing rigorous quantitative techniques to minimize and manage risk versus its benchmark. The fund will use the Barclays U.S. 1-3 Year Government/Credit Index as its benchmark and is designed to be used as a strategic or tactical portfolio allocation.

The TIAA-CREF Social Choice International Equity Fund seeks long term capital appreciation by investing in the securities of companies in developed international markets outside of the United States that are best-in-class ESG leaders within their respective sectors. The TIAA-CREF Social Choice Low Carbon Equity Fund seeks long term capital appreciation as a diversified domestic equity fund that combines comprehensive ESG criteria and an additional focus on companies’ current and future carbon emissions.

The TIAA-CREF Social Choice International Equity Fund will use the MSCI EAFE Index as its benchmark while TIAA-CREF Social Choice Low Carbon Fund will benchmark investments against the Russell 3000 Index and employ a proprietary quantitative process and industry-recognized risk model to match the long-term performance of the U.S. equity market.

All three funds’ retirement and premier class shares are available 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.