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TIAA-CREF launches Social Choice Bond Fund


TIAA-CREF has launched the Social Choice Bond Fund, an actively managed, socially responsible, core fixed income mutual fund.

The Social Choice Bond Fund will provide clients the ability to continue to align their investments with their values by giving consideration to environmental, social and governance guidelines.

Investments primarily include US Government securities, corporate bonds, taxable municipal securities and mortgage-backed and other asset-backed securities. The fund’s benchmark is the Barclays US Aggregate Bond Index.

In addition, the fund targets 10 per cent of fund investments to fixed income securities considered to be “proactive social investments”. These investments provide funding for organisations or projects with positive social and environmental benefits in addition to competitive risk-adjusted returns. The proactive social investments will focus on four thematic areas: affordable housing, community and economic development, renewable energy and climate change, and natural resources.

“We continue to see interest from our clients in fixed income investment options that provide the opportunity for competitive returns and reflect their values,” says Stephen M. Liberatore, portfolio manager of the TIAA-CREF Social Choice Bond Fund. “The Social Choice Bond Fund provides our clients with a new socially responsible investment option.”

Liberatore has more than 17 years of total return fixed income portfolio management experience. He is supported by sector portfolio managers Steven Raab and Joseph Higgins and TIAA-CREF’s team of more than 40 fixed income research analysts. Libertore also manages the fixed-income allocation of the CREF Social Choice Account – a socially screened, balanced variable annuity account.

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