The investment expertise of TCAM underpins the funds, sub-advised by TCAM’s Teachers Advisors, Inc. Nuveen partners TCAM to make the strategies available through its UCITS structure.
The TIAA Global Equity ESG strategy seeks long-term total returns that reflects the investment performance of the overall global stock market while giving special consideration to certain ESG criteria. The managers favour companies that demonstrate ESG leadership in their respective sectors, including impact on stakeholders such as employees, communities, customers, suppliers and the environment.
The TIAA U.S. Bond ESG strategy aims to offer long-term total return through income and capital appreciation while giving considering ESG aspects. The strategy invests in a broad range of publicly traded investment grade bonds and fixed income securities including U.S. Government securities, corporate bonds, taxable U.S. municipal securities and mortgage-backed or other asset backed-securities. Additionally, the strategy invests a portion of its assets in fixed-income instruments that reflect proactive social investments.
A third, non-ESG fund is also being made available. The TIAA Emerging Markets Debt strategy targets income and capital appreciation, through a portfolio of emerging markets fixed-income investments. It typically invests the majority of its assets in emerging markets debt, including corporate, sovereign and quasi-sovereign fixed-income securities with ratings of B- or better, but it may also invest in lower-rated bonds.
The two firms said providing a UCITS framework represents ‘an important step’ in the firms’ efforts to bring its offerings to institutional and retail investors beyond the shores of North America.
