{"id":399073,"date":"2020-12-14T09:03:35","date_gmt":"2020-12-14T14:03:35","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=399073"},"modified":"2020-12-14T09:03:35","modified_gmt":"2020-12-14T14:03:35","slug":"nuveen-expands-retirement-product-suite-with-addition-of-new-target-date-collective-investment-trust","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nuveen-expands-retirement-product-suite-with-addition-of-new-target-date-collective-investment-trust\/","title":{"rendered":"Nuveen Expands Retirement Product Suite with Addition of New Target Date Collective Investment Trust"},"content":{"rendered":"
\n

New CIT series will utilize the same underlying funds and same passive investing strategy as existing mutual fund solution<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n NEW YORK<\/span>, Dec. 14, 2020<\/span> \/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. <\/p>\n

\n

\n
\n \"Nuveen
\n <\/a>\n <\/p>\n<\/p><\/div>\n

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<\/a>\u00a0for its management of mutual funds for the fifth year in a row as the Best Mixed Assets Large Fund Company <\/i>in the 2020 Refinitiv Lipper Fund Awards.\u00a0<\/p>\n

“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<\/span>, 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.”<\/p>\n

Last September, Nuveen also introduced<\/a> 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. \u00a0\u00a0\u00a0<\/p>\n

“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<\/span>, 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.” \u00a0<\/p>\n

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. <\/p>\n

The full Nuveen TIAA Lifecycle Index CIT series includes: <\/p>\n