The TIAA-CREF Mid-Cap Value Fund's above average investment performance and low fees was cited by The Wall Street Journal in it's "SmartMoney: Fund Screen" column highlighting mid-cap funds on June 3, 2008.
The Wall Street Journal studied 1,319 mid-cap funds and selected the top 40 percent in investment return over the trailing three- and five-year time periods ending May 29, 2008. Of that group, the paper then chose those funds that offered the lowest fees, and highlighted eight of those funds in the article. Of the funds cited, TIAA-CREF's had the lowest expense ratio, at 0.64 percent for the retail share class.
"TIAA-CREF Mutual Funds seek to deliver consistent growth and high value to our clients year after year,'' said Scott Evans, Executive Vice President and Head of Asset Management, TIAA-CREF. "Our inclusion in The Wall Street Journal's article highlighting the mid-cap sector underscores the experience and skill of our investment professionals."
Mid-cap funds invest in medium-sized domestic companies that tend to offer more stable investment performance than small-cap companies, while often providing higher potential growth rates than the biggest companies, known as large caps, according to The Wall Street Journal. The TIAA-CREF Mid-Cap Value Fund invests at least 80 percent of its net assets in mid-cap equity securities, focusing on those TIAA-CREF's investment professionals believe are undervalued based on an evaluation of their potential worth, display strong free cash flow, healthy balance sheets, and a number of specific business catalysts to future growth.
In February, for the second year in a row, TIAA-CREF earned a place among the top 10 mutual fund families according to the annual Lipper/Barron's Fund Family Survey, ranking nine out of 67 fund families based on asset-weighted returns for the 12-month period ending December 31, 2007, higher than 85 percent of the fund families in the Barron's 2007 survey.
Through May 29, 2008, the time period referenced by The Wall Street Journal, the TIAA-CREF Mid-Cap Value Fund posted an annual return of 17.9 percent through five years, an 11.8 percent annual return through three years, and a return of 7.9 percent through three months. As of June 30, 2008, the fund posted returns of 15.5 percent through five years, 7.5 percent over three years and - 0.37 percent over three months. The Lipper mid-cap category earned a 13.6 percent average annual return for the five-year period. The gross expense ratio for the fund is 0.64 percent. The inception date is October 1, 2002.
The returns presented here represent past performance, which is no guarantee of future results. They do not reflect taxes that a shareholder would pay on fund distributions or the sale of fund shares. Returns and the principal value of your investment will fluctuate such that shares may be worth more or less than original cost when redeemed. Current performance may be higher or lower than that shown. For current performance information, including performance to the most recent month-end, please visit www.tiaa-cref.org/performance.
TIAA-CREF helps meet the financial needs of 3.4 million individuals and more than 15,000 institutions in the academic, research, medical and cultural fields. Through TIAA-CREF Asset Management, a division of Teachers Advisors, Inc., TIAA-CREF provides institutional investors and intermediaries with access to the TIAA-CREF organization's 90 years of investing experience.
About TIAA-CREF Asset Management
TIAA-CREF Asset Management®, a division of Teachers Advisors, Inc., 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 alternatives.
With $420 billion in combined assets under management as of March 31, 2008, 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 $69 billion invested in real estate assets.
Teachers Advisors, Inc. is a registered investment advisor and wholly owned subsidiary of Teachers Insurance and Annuity Association (TIAA). 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.
All TIAA-CREF mutual funds are subject to various risk factors. Past performance is no guarantee of future results. Securities of medium-sized companies may be more volatile than those of larger companies and may be harder to buy or sell than those of larger, more established companies. Additionally, value investing may also fall out of favor with investors and includes the risk that a security may be appropriately priced or overpriced when acquired, or that its potential value may never be recognized by the market. TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products.
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 Retail Class Mutual Funds.
© 2009 and prior years, Teachers Insurance and Annuity Association - College Retirement Equities Fund (TIAA-CREF), New York, NY 10017
