The Global Natural Resources investment strategy seeks to generate a favorable long-term total return mainly through capital appreciation from equity investments related to the natural resources sector.
The portfolio manager seeks to invest in companies that are best positioned globally to benefit from growing demand for limited resources. The strategy has a longer-term focus and aims to provide a more balanced exposure to the energy, metals and agriculture sectors, on a global basis including in emerging markets.
Through a combination of top-down commodity analysis and bottom-up fundamental equity research, the portfolio manager identifies attractive equity investments with a focus on well positioned companies in the natural resources chain with access to substantial resources, advantaged cost of production and an attractive production growth profile; as well as suppliers to the resources sector. The strategy leverages the expertise of TIAA-CREF’s global equity research team to provide in-depth analysis and involves a significant amount of domestic and international travel.
Global Natural Resources portfolios are subject to certain risks such as market and investment style risk. In addition, the strategy's concentration in the natural resources sector make it subject to more risk and volatility than other strategies. Investing in non-U.S. markets involves certain additional risks, including currency fluctuations and controls, restrictions on foreign investments, less governmental supervision and regulation, less liquidity, and the potential for market volatility and political instability.
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