The Lifecycle 2060 and Lifecycle Index 2060 Funds are the latest additions to TIAA-CREF’s Lifecycle Funds series and Lifecycle Index Funds series. Both Lifecycle series include 11 funds offered in five-year target-date increments, as well as a Retirement Income Fund. The new funds will follow the same glide-path as other funds in their respective series, which is designed to allow for continued asset growth during an investor’s working years and to help meet the financial needs of investors long after they leave the workforce.
The Lifecycle 2060 Fund and the Lifecycle Index 2060 Fund will allocate 90% of assets to equity and 10% to fixed income at the outset and will gradually move to a target allocation of approximately 50% equity and 50% fixed income by 2060, reaching its final target allocation of approximately 40% equity and 60% fixed income between 2067 and 2070.
The TIAA-CREF Emerging Markets Debt Fund is an actively managed mutual fund that provides blended exposure to a range of emerging markets fixed-income securities, including U.S dollar and local currency denominated sovereign and corporate bonds. The fund will use a combination of top-down macroeconomic and bottom-up credit analysis to identify and execute compelling investment opportunities. The fund will use the JP Morgan EMBI Global Diversified Index as its primary benchmark.
“With a potential for generating attractive risk-adjusted returns, emerging market debt, as an asset class, is an attractive tool for portfolio diversification, particularly in today’s low global economic growth environment,” says Katherine Renfrew, lead portfolio manager, TIAA-CREF Emerging Markets Debt Fund.
Renfrew, together with co-manager Anupam Damani, have more than three decades of combined emerging markets investing experience.
More information about TIAA-CREF funds are at www.tiaa-cref.org.