Nuveen Adds Target Date Collective Investment Trust Series to its Retirement Product Suite

New funds will opportunistically blend active and passive investing strategies

NEW YORK--()--Nuveen, a leading global investment manager, has enhanced its target date fund solutions offering with the introduction of the Nuveen TIAA Lifecycle Blend CIT series. The new collective investment trusts (CITs) will be managed by Nuveen’s award-winning mixed assets portfolio management team. The Nuveen TIAA Lifecycle Blend CIT series, consists of 12 funds, including 11 target-date funds at five-year intervals for retirement dates 2010 through 2060 and a retirement income fund for those already in retirement.

The trustee for the new CITs 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.

“Collective investment trusts offer an attractive investment framework for plan sponsors and their advisors and consultants who are focused on cost-effective investment solutions,” said Jeff Eng, managing director and head of retirement products at Nuveen. “This new blended target date fund CIT series helps meet a growing demand in the 401(k) market space.”

The Nuveen TIAA Lifecycle Blend CIT series contains a blend of active and passive holdings. The series aims to appeal to plan sponsors seeking expertise and experience in actively managed funds while seeking to balance investment costs by using index funds where appropriate.

“We’re excited to partner with SEI to offer a blended CIT series with direct real estate investments,” said Brendan McCarthy, defined contribution investment only (DCIO) national sales director at Nuveen. “With the addition of an active passive mix of underlying investments designed to help meet the needs of today’s corporate retirement plan market, we expect the response from plan sponsors and their advisors to be very positive.”

The Nuveen TIAA Lifecycle Blend CIT series will employ a 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 Blend CIT series includes:

  • Nuveen TIAA Lifecycle Blend Fund 2010
  • Nuveen TIAA Lifecycle Blend Fund 2015
  • Nuveen TIAA Lifecycle Blend Fund 2020
  • Nuveen TIAA Lifecycle Blend Fund 2025
  • Nuveen TIAA Lifecycle Blend Fund 2030
  • Nuveen TIAA Lifecycle Blend Fund 2035
  • Nuveen TIAA Lifecycle Blend Fund 2040
  • Nuveen TIAA Lifecycle Blend Fund 2045
  • Nuveen TIAA Lifecycle Blend Fund 2050
  • Nuveen TIAA Lifecycle Blend Fund 2055
  • Nuveen TIAA Lifecycle Blend Fund 2060
  • Nuveen TIAA Lifecycle Blend Retirement Income Fund

Nuveen is one of the largest investment managers of defined contribution assets in the United States with over $500 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 more than $1 trillion in assets under management as of 30 June 2019 and operations in 23 countries. Its affiliates 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 Fund and maintains ultimate fiduciary authority over the management of, and the investments made in, the Fund. 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

Now in its 50th year of business, SEI (NASDAQ:SEIC) is a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of June 30, 2019, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers $970 billion in hedge, private equity, mutual fund and pooled or separately managed assets, including $335 billion in assets under management and $630 billion in client assets under administration. For more information, visit seic.com

Nuveen was the fourth largest manager of defined contribution assets with $507 billion under management as of December 31, 2018 according to Pensions & Investments.

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.

As complex bank products, CITs are exposed to operational, regulatory and reputational risks. CITs may not be suitable for all investors or all plan needs and may outperform certain sector products during times of market volatility but also may underperform certain sector products over periods of time. Investing involves risk; principal loss is possible. 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 Disclosure Memorandum.

This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor or suggest any specific course of action. Investment decisions should be made based on an investor's objectives and circumstances and in consultation with his or her advisors.

Nuveen Solutions comprises a team of investment professionals who are shared between Nuveen Asset Management, LLC (“NAM”) and Teachers Advisors, LLC (“TAL”), both Nuveen-affiliated registered investment advisers. Non-advisory activities are provided outside of NAM and TAL.

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Contacts

Mary Ellen Higgins
Nuveen Media Relations
781.789.1911
maryellen.higgins@nuveen.com

Contacts

Mary Ellen Higgins
Nuveen Media Relations
781.789.1911
maryellen.higgins@nuveen.com