Asset Management

Commentary & Perspectives

Weekly Market Updates

Timely insights from TIAA-CREF Asset Management experts on market activity and key economic themes.

Economic and Market Insights

Recent Articles

In-depth analysis and investment expertise from TIAA-CREF Asset Management. These topics provide a closer look at key market drivers and their impact on core asset classes and investment opportunities.

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White Papers

January 9, 2014
​It's all relative: Assessing global real estate investment opportunities
With the continued globalization of financial markets, more investors are seeking to construct global property portfolios. But, what is the best way to assess relative value across countries? In this new white paper, It’s all relative: Assessing global real estate investment opportunities, Martha Peyton, Edward F Pierzak and Timothy Francis of TIAA-CREF's Global Real Estate Strategy & Research team describe an analytic process that uses available data to identify countries with relatively equivalent country risk and abundant liquidity in order to help investors evaluate global real estate opportunities.
Learn more. (PDF)

January 6, 2014
Private real assets: Improving portfolio diversification with potentially uncorrelated market exposure.
Private investments in real assets – farmland, timberland, and commercial real estate – offer the potential to enhance returns and diversify risk in institutional portfolios. Real assets have exhibited higher returns and lower volatility than stocks and bonds, with low or negative correlations. Historical analysis using index returns for the 21-year period, 1992-2012, showed:

  • Each category of real assets increased risk-adjusted returns in stock/bond portfolios
  • Low correlations support the case for diversifying with multiple categories of real assets
  • Real assets provided higher risk-adjusted returns than public commodities and REITS
  • Real assets’ limited availability suggest restricting allocations to practical levels, such as 10% to 20%

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December 23, 2013
2014 Outlook: Accelerating economy and normalizing markets
What is our view on markets and world economies in 2014? Chief Economist Tim Hopper and Global Investment Strategist Daniel Morris recently published a white paper outlining the major economic and market themes that investors should consider in 2014. The “2014 Outlook: Accelerating economy and normalizing markets” outlines how the U.S. economy will accelerate to 2.8% in 2014, propelled by consumer demand, employment gains, and the housing market. And despite rising interest rates as the Fed tapers quantitative easing, the bull market in U.S. stocks should continue. Reasonable valuations, earnings growth, and the global economic recovery will create opportunities in the U.S. and abroad. For more insights, read the white paper (PDF).

September 26, 2013
Taking the high road: Do higher-yielding property markets pay?
Have major property markets become too expensive? Is it time to pursue higher-yielding markets? Read the latest white paper from TIAA-CREF's Global Real Estate Strategy & Research team to learn why they believe that chasing yield does not guarantee superior total returns.
Learn more. (PDF)

September 3, 2013
Lifecycle Funds in a rising interest-rate environment
Amid an improving U.S. economy and speculation that the Federal Reserve may begin to transition away from stimulative monetary policies that have helped keep interest rates at historic lows, TIAA-CREF Lifecycle Funds investors may be wondering how a rise in rates could affect their Fund performance. This question is particularly relevant for investors who are nearing retirement and whose Lifecycle Fund portfolios, by virtue of their glidepath design, have become more conservatively positioned over time through increased allocations to fixed income. In this white paper, we offer Lifecycle Funds investors an informed perspective on the prospect of rising interest rates and their likely impact.
Learn more. (PDF)

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Investment Data Center