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Rating:TIAA-CREF Debuts Lifecycle Funds Not Rated 5.0 Email Routing List Email & Route  Print Print
Friday, June 04, 2004

TIAA-CREF Debuts Lifecycle Funds

by: Theresa Sim

TIAA-CREF is launching a slew of lifecycle funds targeted to investors retiring from 2010 to 2040, according to a draft prospectus filed with the SEC on May 18.

The funds are named Lifecycle 2010, 2015, 2020, 2025, 2030, 2035 and 2040.

How TIAA's Lifecycle Funds Shape Up
Fund Equity Funds (%) Fixed Income Funds (%) Real Estate Funds (%)
2010 Fund 50 40 10
2015 Fund 55 35 10
2020 Fund 60 30 10
2025 Fund 65 25 10
2030 Fund 70 20 10
2035 Fund 75 15 10
2040 Fund 80 10 10
Source: TIAA-CREF N-1A
The funds of funds will invest in institutional shares of TIAA-CREF's mutual funds, including: Growth Equity Fund, International Equity Fund, Large-Cap Value Fund, Small-Cap Equity Fund, Real Estate Securities Fund, Inflation-Linked Bond Fund, Bond Fund and the Money Market Fund.

As investors age, the manager will shift allocations from equity-focused the mutual funds to fixed income or money market products.

The 2010 fund, for example, starts out with 50 percent equity funds, 40 percent fixed income funds, and 10 percent real estate funds, and shifts to 35 percent equity, 65 percent non-equity by 2010.

All funds have a 35 percent equity to 65 percent non-equity allocation by the time the investor reaches each fund's respective retirement age.

Scott Budde, managing director at TIAA and veteran of the company of nine years, will manage the funds.

All funds will have an operating expense of 65 basis points, and no minimum investment requirements. 

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