Target-date fund investors now have access to direct real estate holdings, an alternativeasset option long incorporated in public and private definedbenefit pension funds.
“We see great benefit in introducing this,” said John Cunniff,managing director at TIAA Investments and the manager of theTIAA-CREF Lifecycle Fund series.
TDF investors in defined contribution plansroutinely have access to real estate exposure through publiclytraded REITs, or real estate investment trusts. According toMorningstar, 65 percent of target-date series held an exposure todomestic or global REITs as of the end of 2106.
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