Yet another fund firm is merging together a number of its funds to "defray operating costs." In Morningstar's Fund Times column, Ryan Leggio reports that TIAA-CREF plans to merge the TIAA-CREF Small-Cap Growth Index and TIAA-CREF Small-Cap Value Index funds into its TIAA-CREF Small-Cap Blend Index Fund. According to Leggio, TIAA will also combine TIAA-CREF Mid-Cap Growth Index, TIAA-CREF Mid-Cap Value and TIAA-CREF Mid-Cap Blend Index into TIAA-CREF Equity Index.

Leggio attacks TIAA for not choosing to instead hire a subadvisor for the funds, to defray costs while keeping the disparate funds' styles separate. 

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