Real Estate Securities



Objective & Philosophy
The Real Estate Securities investment strategy seeks a favorable long-term total return through both capital appreciation and current income, by investing primarily in equity and fixed income securities of companies principally engaged in or related to the real estate industry. The portfolio manager believes that investing in undervalued securities and property types can generate returns that outperform its index over time.
Key Facts
Asset Class: Equity
Inception Date: 10/01/2002
Benchmark: Dow Jones Wilshire Real Estate Securities Index
Portfolio Management: Saira Malik, CFA, Managing Director
Investment Strategy
The Real Estate securities investment team often takes a contrarian approach, seeking to invest in securities that are deemed to be temporarily out of favor by the market. A top-down asset allocation framework helps to identify those property types and regional areas that offer the best relative value. Individual security selection is determined through a detailed bottom-up company analysis. The strategy usually holds securities with lower price-to-net asset value and price-to-cash-flow multiples versus the benchmark in seeking to achieve a portfolio with a higher dividend yield.
Performance & Statistics

All data is shown in U.S. Dollars. Non-performance information is based on a representative account of the strategy. Each portfolio may differ due to specific investment restrictions and guidelines. Past performance is not an indicator or guarantee of future results. The gross performance returns presented reflect the reinvestment of dividends and other earnings but do not reflect the deduction of investment advisory fees and other expenses. A client's return will be reduced by advisory fees and any other expenses it may incur in the management of its investment advisory account.

Portfolios within the composite are subject to certain risks such as market and investment style risk.

The Dow Jones Wilshire Real Estate Securities Index measures the performance of publicly traded real estate securities, such as real estate investment trusts and real estate operating companies.

The separate account minimum is $25 million.

This material is provided for informational purposes only and should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. TIAA-CREF claims compliance with the Global Investment Performance Standards (GIPS®). TIAA-CREF is a group of companies that manages domestic, international and global investment strategies for clients worldwide, and provides insurance-related financial services.  To receive a complete list and descriptions of TIAA-CREF composites and/or a presentation that adheres to the GIPS standards, please Contact Us.

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