Target-date fund investors now have access to direct real estate holdings, an alternative asset option long incorporated in public and private defined benefit pension funds.
“We see great benefit in introducing this,” said John Cunniff, managing director at TIAA Investments and the manager of the TIAA-CREF Lifecycle Fund series.
TDF investors in defined contribution plans routinely have access to real estate exposure through publicly traded REITs, or real estate investment trusts. According to Morningstar, 65 percent of target-date series held an exposure to domestic or global REITs as of the end of 2106.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
