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Friday, April 24, 2009|
TIAA-CREF Puts Seven Index Funds Into a Hat and Pulls Out Only Two
Yet another fund firm is merging together a number of its funds to "defray operating costs." In Morningstar's Fund Times column, Ryan Leggio reports that TIAA-CREF plans to merge the TIAA-CREF Small-Cap Growth Index and TIAA-CREF Small-Cap Value Index funds into its TIAA-CREF Small-Cap Blend Index Fund. According to Leggio, TIAA will also combine TIAA-CREF Mid-Cap Growth Index, TIAA-CREF Mid-Cap Value and TIAA-CREF Mid-Cap Blend Index into TIAA-CREF Equity Index.
Leggio attacks TIAA for not choosing to instead hire a subadvisor for the funds, to defray costs while keeping the disparate funds' styles separate.
Printed from: MFWire.com/story.asp?s=21390
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