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TIAA-CREF launches global natural resources fund


TIAA-CREF has launched the Global Natural Resources Fund (TNRLX, TNRRX, TNRIX), a mutual fund designed to provide investors with exposure to stocks in the natural resources sector.

“We believe seven billion people around the world will drive powerful long-term demand in the natural resources sector,” says Navaneel Ray, portfolio manager, TIAA-CREF Global Natural Resources Fund. “This demand, bolstered by income growth in developing countries and the scarcity of supply sources will help sustain pricing power for commodity producers.
“Regardless of short-term volatility in financial markets, we believe these factors offer an attractive long-term investment opportunity.”

The Fund will primarily invest in equities of companies engaged in the ownership, development, exploration, production, distribution or processing of natural resources such as energy, basic materials and agriculture products. The Fund may also invest in companies that are well positioned as suppliers to the natural resources sector.

Ray says: “Historically, demand for energy, basic materials and agricultural products have tracked global GDP growth and changes in industrial production, making the sector a potential hedge against inflation. In addition, commodities and commodity-linked equities offer attractive diversification benefits and protection against US dollar weakness, when added to a US dollar equity portfolio.”

The TIAA-CREF Global Natural Resources Fund will seek to maintain relatively balanced sector exposures, with its benchmark equally weighted among energy, agriculture and metals. While the fund will deviate from the benchmark’s equal sector weightings based on the investment opportunities available, in general, this fund offers a broader and more balanced exposure to the natural resources sector than a purely market capitalisation-weighted fund or an energy sector fund.
The TIAA-CREF Global Natural Resources Fund leverages the extensive experience of TIAA-CREF’s global equity research team, including in emerging markets; and in the various sub-sectors within natural resources, as well as the organisation’s long-term investment perspective.

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