Word: tiaa
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...deal: for a lump-sum premium, you get a guaranteed monthly income that starts immediately and continues for as long as you live--just like a pension. "This is an extremely important function that is not obtainable under any other strategy," says Mark Warshawsky, director of research for TIAA-CREF, the largest U.S. educational retirement fund. "There is a useful place for this in people's portfolios...
Pension-fund giant TIAA-CREF--best known for investing retirement savings--also offers 11 funds with a $250 minimum investment, or just $25 a month, in its automatic investment plan. These no-load funds also have some of the lowest expenses in the business. Putnam Research is run a bit differently from other funds in that family's lineup. The fund draws on Putnam's analysts, who pick their favorite stocks to construct the portfolio. It's one of Putnam's smaller large-cap funds, but its returns have consistently been among the firm's best. These gains...
...Before, people would just carve out evil companies," says John Biggs, head of TIAA-CREF, the pension-fund giant, which launched its own social fund. "Amy brings investment discipline with social concerns." Domini's latest crusade: persuading the $7 trillion U.S. mutual-fund industry to post shareholder-resolution votes on its websites. "It's outrageous that managers are not telling investors how they vote," says Domini. "The small investor wants to fatten her wallet, but she also wants to breathe clean air and work in a safe environment...
...responsible funds can make you feel good about getting richer--but the trade-off can be a fairly stiff fee. This spring two new socially responsible index funds will debut with lower-than-average management fees. The Vanguard Calvert Social Index Fund will have a .25% expense ratio, and TIAA-CREF's Social Choice Equity's fee will fall in the same range as those of its other funds, between...
...TIAA-CREF, which manages pension funds for Harvard, Tufts and Boston University, holds over 300,000 shares in Talisman, according to the AASG...