NEW YORK, Dec. 14, 2020 /PRNewswire/ -- Nuveen, the global
investment manager of TIAA, has expanded its target date fund
solutions offering with the addition of the Nuveen TIAA Lifecycle
Index CIT series. The new collective investment trust (CIT) series
will further complement the firm's existing target date fund suite,
which includes a robust offering of active, passive and blended
strategies. The trustee for the CIT is SEI Trust Company, wholly
owned subsidiary of SEI Investments Company, a leading global
provider of institutional and private client wealth management
solutions. SEI maintains ultimate fiduciary authority over the
management of and the investments made in the CIT with Nuveen as
advisor.
With the launch of the Nuveen TIAA Lifecycle Index CIT series,
the firm will now offer a passive target date strategy in both
mutual fund (TIAA-CREF Lifecycle Index Funds) and CIT solutions.
The latest CIT series will also be managed by Nuveen's award
winning mixed assets portfolio management team, which was
recognized for its management of mutual funds for the fifth
year in a row as the Best Mixed Assets Large Fund Company in
the 2020 Refinitiv Lipper Fund Awards.
"At Nuveen, we are proactively looking for ways to meet the
needs of plan sponsors and participants by enhancing our target
date fund suite with new strategies and products," said
Jeff Eng, managing director and head
of retirement products at Nuveen. "Following the success of last
year's addition of a blended CIT series, the latest Nuveen TIAA
Lifecycle Index CIT series is another step in our growth and
evolution within the retirement market space."
Last September, Nuveen also introduced 12 target-date funds
through the Nuveen TIAA Lifecycle Blend CIT series, which
opportunistically blend active and passive investing strategies.
The latest Nuveen TIAA Lifecycle Index CIT series consists of 13
funds, including 12 target-date funds at five-year intervals for
retirement dates 2010 through 2065 and a retirement income fund for
those who prefer a well-diversified, static asset allocation.
"From retirement regulation and legislation to the recent
disruption of the global pandemic, the defined contribution market
continues to evolve and address the demands and challenges faced by
participants preparing for retirement," said Brendan McCarthy, head of defined contribution
investment only (DCIO) at Nuveen. "The CIT offering of our top
performing target date mutual funds strategy provides a solution
that aims to help plan sponsors and their advisors achieve
participant savings and income goals for a prolonged retirement
period."
The Nuveen TIAA Lifecycle Index CIT series will employ the same
Lifecycle Index glidepath that extends 30 years past retirement as
a means to help provide investment outcomes and retirement income
for the growing number of plan participants who elect to remain in
these funds well into their retirement years.
The full Nuveen TIAA Lifecycle Index CIT series includes:
- Nuveen TIAA Lifecycle Index Retirement Income
- Nuveen TIAA Lifecycle Index 2010
- Nuveen TIAA Lifecycle Index 2015
- Nuveen TIAA Lifecycle Index 2020
- Nuveen TIAA Lifecycle Index 2025
- Nuveen TIAA Lifecycle Index 2030
- Nuveen TIAA Lifecycle Index 2035
- Nuveen TIAA Lifecycle Index 2040
- Nuveen TIAA Lifecycle Index 2045
- Nuveen TIAA Lifecycle Index 2050
- Nuveen TIAA Lifecycle Index 2055
- Nuveen TIAA Lifecycle Index 2060
- Nuveen TIAA Lifecycle Index 2065
In addition to being one of the largest target date fund
managers, Nuveen is the fourth largest investment manager of
defined contribution assets in the United
States with approximately $535
billion in retirement plan assets under management. Its DCIO
team works in consultation with plan sponsors, consultants and
retirement plan advisors to evaluate the investment menus of
retirement plans and identify ways to improve outcomes for plan
participants. This service includes Nuveen's retirement plan
newsletter, next, which was designed to help plan
fiduciaries navigate the constantly evolving defined contribution
space.
About Nuveen
Nuveen, the investment manager of TIAA,
offers a comprehensive range of outcome-focused investment
solutions designed to secure the long-term financial goals of
institutional and individual investors. Nuveen has $1.1 trillion in assets under management as of
30 September 2020 and operations in
27 countries. Its investment specialists offer deep expertise
across a comprehensive range of traditional and alternative
investments through a wide array of vehicles and customized
strategies. For more information, please visit www.nuveen.com.
About SEI Trust Company
SEI Trust Company (the
"Trustee") serves as the Trustee of the CITs and maintains ultimate
fiduciary authority over the management of, and the investments
made in, the CITs. The Trustee is a trust company organized under
the laws of the Commonwealth of Pennsylvania and is a wholly owned subsidiary
of SEI Investments Company (SEI).
About SEI
After 50 years in business,
SEI (NASDAQ:SEIC) remains a leading global provider of investment
processing, investment management, and investment operations
solutions designed to help corporations, financial institutions,
financial advisors, and ultra-high-net-worth families create and
manage wealth. As of Sept. 30, 2020,
through its subsidiaries and partnerships in which the company has
a significant interest, SEI manages, advises or administers
approximately $1 trillion in hedge,
private equity, mutual fund and pooled or separately managed
assets, including approximately $330
billion in assets under management and $755 billion in client assets under
administration. For more information, visit seic.com.
Nuveen Securities, member FINRA and SIPC.
The Nuveen / SEI Trust Company Investment Trust, of which the
Nuveen TIAA Index Series are underlying collective investment funds
(collectively the "Funds"), is a trust for the collective
investment of assets of participating tax qualified pension and
profit sharing plans and related trusts, and governmental plans as
more fully described in the Declaration of Trust. As a bank
collective trust, the Trust is exempt from registration as an
investment company.
The target date is the approximate date when investors plan to
start withdrawing their money. The principal value of the funds is
not guaranteed at any time, including at the target date. The unit
value of the CIT will fluctuate, and investors may lose money.
There is no guarantee the CITs investment objectives will be
achieved. The CIT is a fund of funds subject to the risks of its
underlying funds in proportion to each CIT's allocation to the
underlying funds. Underlying funds invest primarily in stocks,
bonds and real estate. A fiduciary should consider the CIT
objectives, risks, and expenses before investing. This and other
information can be found in the Declaration of Trust.
Contact:
E-Soo Kim
Nuveen Media Relations
212.207.2012
e-soo.kim@nuveen.com
TPS-1446174PR-E1220X
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