TIAA-CREF Growth & Income Fund Earns 2010 Lipper Fund Award
New York, March 30, 2010
TIAA-CREF today announced that its Growth & Income Fund, Institutional Class (TIGRX), was awarded a 2010 Lipper Fund Award for five-year Consistent Return in Lipper’s large-cap core category. The fund ranked number one out of 655 funds in the Lipper category.1
This award recognizes the fund’s strong five-year risk-adjusted performance for the period ended December 31, 2009 under the direction of portfolio manager Susan Kempler and the domestic large-cap core portfolio management team.
TIAA-CREF is America's largest private retirement system and manages retirement savings on behalf of 3.6 million Americans in the academic, research, medical and cultural fields.
“We are pleased that our talented team of portfolio managers and analysts has been recognized with this reward, which demonstrates the value of our long-term, research based investment approach,” said Scott Evans, Head of Asset Management, TIAA-CREF. “We remain committed to the disciplined stock selection and risk management processes that have helped us to deliver consistent value to our clients over time."
The TIAA-CREF Growth & Income Fund’s award follows its recognition in the same category in 2008. In addition, the TIAA-CREF Bond Fund (TIORX) was included in Kiplinger’s “The Biggest and Best Bond Funds” feature in the March 2010 issue.2 60% of TIAA-CREF’s funds and variable annuity accounts received an overall Morningstar rating of 3-stars, 21% received 4-stars and 4% received 5-stars across all asset classes as of December 31, 2009.3
The Lipper Fund Award is presented to the highest Lipper Leader for Consistent Return (Effective Return) within each eligible classification over three, five, or ten years. Lipper Ratings for Consistent Return reflect funds' historical risk-adjusted returns, adjusted for volatility, relative to peers.
The 2010 Lipper Fund Awards were presented in New York on March 24.
About TIAA-CREF Asset Management
TIAA-CREF Asset Management®, a division of Teachers Advisors, Inc., a registered investment advisor and a subsidiary of Teachers Insurance and Annuity Association (TIAA). TIAA-CREF Asset Management provides institutional investors and other intermediaries with access to the TIAA-CREF® organization’s sophisticated investment management, research and analytical capabilities. Its investment strategies cover a wide spectrum of asset classes, from traditional equity and fixed income to real estate and other specialized portfolios.
With $414 billion in combined assets under management as of December 31, 2009, TIAA-CREF is best known as the leading provider of retirement services in the academic, research, medical and cultural fields and one of the largest institutional real estate investors in the U.S. with more than $53 billion invested in real estate assets.
TIAA, TIAA-CREF, Teachers Insurance and Annuity Association, TIAA-CREF Asset Management and FINANCIAL SERVICES FOR THE GREATER GOOD are registered trademarks of Teachers Insurance and Annuity Association.
Abby Aylman Cohen, Manager, Corporate Media Relations
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1The highest Lipper leader for consistent return (effective return) within each eligible classification determines the fund classification winner over three, five or ten years. Funds must have at least 36 months of performance history as of the end of the evaluation year. The Growth & Income Fund, Institutional Class, ranked in the 77th percentile within its category over one year, 4th over three years and in the 3rd percentile over five years.
2“The Biggest and Best Fond Funds and ETFs”, Kiplinger’s Personal Finance, March 2010.
3Source: Morningstar Direct. For each fund/account with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's/account's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Where applicable, Morningstar's performance rankings are based on linked performance that considers the differences in expense ratios, while actual performance data shown does not reflect such differences. The top 10 percent of funds/accounts in a category receive five stars, the next 22.5 percent receive four stars, and the next 35 percent receive three stars, the next 22.5 percent receive two stars and the bottom 10 percent receive one star. (Each share class is counted as a fraction of one fund/account within this scale and rated separately, which may cause slight variations in the distribution percentages.)
Growth stocks may be more volatile than value stocks due to their relatively high valuations, and growth investing may fall out of favor with investors. Bond funds are subject to interest rate and credit risk.
You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 877-518-9161, or go to www.tiaa-cref.org for a current prospectus that contains this and other information. Please read the prospectus carefully before investing.
Current performance has been impacted by recent market volatility. Please go to www.tiaa-cref.org/performance for more performance information for the Institutional Class Mutual Funds.
TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products.