| Portfolio Management: | Philip McAndrews, Managing Director |
| Chris McGibbon, Managing Director |
All data is shown in US 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. Investing in real estate has specific risks, including fluctuations in property value, higher expenses or lower income than expected and environmental problems and liability. Accounts in the composite can use long-term financing to enhance returns and portfolio diversification. Leverage will not exceed 30% of an account's aggregate gross asset value. Additionally, a 120 day credit facility will be maintained for any account employing leverage.
The benchmark for this composite is the NCREIF (National Council Real Estate Investment Fiduciaries) Fund Index – Open End Diversified Core Equity (NFI-ODCE). The NFI-ODCE is a capitalization weighted index of quarterly time weighted total returns of diversified core equity style open-end funds. The composite’s benchmark was changed from the NCREIF Property Index (NPI) to the NCREIF Fund Index – Open End Diversified Core Equity (NFI-ODCE) on October 1, 2008. The benchmark was changed to more accurately reflect the structural similarities in the strategy.
The separate account minimum is $750 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.
This website is directed only to institutional investors. The information on this website should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. Certain products and services may not be available to all entities or persons.
TIAA-CREF Asset Management is the institutional asset management division of Teachers Advisors, Inc., a registered investment advisor and wholly owned subsidiary of Teachers Insurance and Annuity Association (TIAA). TIAA® personnel in its investment management area provide investment advice and portfolio management services through the following entities: Teachers Advisors, Inc., TIAA-CREF Investment Management, LLC, and Teachers Insurance and Annuity Association® (TIAA®).
