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Products December 13, 2011
TIAA-CREF Launches Global Natural Resources Fund
December 13, 2011 (PLANSPONSOR.com) - TIAA-CREF has launched the Global Natural Resources Fund (TNRLX, TNRRX, TNRIX).
Reported by Rebecca Moore
The fund will primarily invest in equities of companies engaged in the ownership, development, exploration, production, distribution or processing of natural resources such as energy, basic materials and agriculture products. The fund may also invest in companies that are well positioned as suppliers to the natural resources sector.
The TIAA-CREF Global Natural Resources Fund will seek to maintain relatively balanced sector exposures, with its benchmark equally weighted among energy, agriculture and metals. While the fund will deviate from the benchmark’s equal sector weightings based on the investment opportunities available, in general, the company said, the fund offers a broader and more balanced exposure to the natural resources sector than a purely market capitalization-weighted fund or an energy sector fund.
Navaneel Ray, CFA, , portfolio manager, TIAA-CREF Global Natural Resources Fund, is a managing director for the TIAA-CREF organization and has over 17 years of industry experience. He is responsible for following the global metals/mining and international energy sectors. He joined the TIAA-CREF organization in 2005.
The fund’s Retail Class shares are available for purchase through certain financial intermediaries or by contacting the fund directly at 800-223-1200 or www.tiaa-cref.org. Retirement Class shares are generally available for purchase through employee benefit plans or other types of savings plans or accounts such as TIAA-CREF IRAs. Institutional Class shares are available for purchase directly from TIAA-CREF by certain eligible investors or through financial intermediaries.