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Nuveen Adds Target-Date CIT Series to Its Retirement Product Suite


NEW YORK, NY, October 14, 2019 -- Nuveen, a leading global investment manager, has enhanced its target-date fund solutions offering with the introduction of the Nuveen TIAA Lifecycle Blend CIT series. The new collective investment trusts (CITs) will be managed by Nuveen's award-winning mixed assets portfolio management team. The Nuveen TIAA Lifecycle Blend CIT series, consists of 12 funds, including 11 target-date funds at five-year intervals for retirement dates 2010 through 2060 and a retirement income fund for those already in retirement.

The trustee for the new CITs is SEI Trust Company, wholly owned subsidiary of SEI Investments Company, a leading global provider of institutional and private client wealth management solutions. SEI maintains ultimate fiduciary authority over the management of and the investments made in the CIT with Nuveen as advisor.

"Collective investment trusts offer an attractive investment framework for plan sponsors and their advisors and consultants who are focused on cost-effective investment solutions," said Jeff Eng, managing director and head of retirement products at Nuveen. "This new blended target-date fund CIT series helps meet a growing demand in the 401k market space."

The Nuveen TIAA Lifecycle Blend CIT series contains a blend of active and passive holdings. The series aims to appeal to plan sponsors seeking expertise and experience in actively managed funds while seeking to balance investment costs by using index funds where appropriate.

"We're excited to partner with SEI to offer a blended CIT series with direct real estate investments," said Brendan McCarthy, defined contribution investment only (DCIO) national sales director at Nuveen. "With the addition of an active passive mix of underlying investments designed to help meet the needs of today's corporate retirement plan market, we expect the response from plan sponsors and their advisors to be very positive."

The Nuveen TIAA Lifecycle Blend CIT series will employ a glidepath that extends 30 years past retirement as a means to help provide investment outcomes and retirement income for the growing number of plan participants who elect to remain in these funds well into their retirement years.

The full Nuveen TIAA Lifecycle Blend CIT series includes:

  • Nuveen TIAA Lifecycle Blend Fund 2010
  • Nuveen TIAA Lifecycle Blend Fund 2015
  • Nuveen TIAA Lifecycle Blend Fund 2020
  • Nuveen TIAA Lifecycle Blend Fund 2025
  • Nuveen TIAA Lifecycle Blend Fund 2030
  • Nuveen TIAA Lifecycle Blend Fund 2035
  • Nuveen TIAA Lifecycle Blend Fund 2040
  • Nuveen TIAA Lifecycle Blend Fund 2045
  • Nuveen TIAA Lifecycle Blend Fund 2050
  • Nuveen TIAA Lifecycle Blend Fund 2055
  • Nuveen TIAA Lifecycle Blend Fund 2060
  • Nuveen TIAA Lifecycle Blend Retirement Income Fund

Nuveen is one of the largest investment managers of defined contribution assets in the United States with over $500 billion in retirement plan assets under management. Its DCIO team works in consultation with plan sponsors, consultants and retirement plan advisors to evaluate the investment menus of retirement plans and identify ways to improve outcomes for plan participants. This service includes Nuveen's retirement plan newsletter, next, which was designed to help plan fiduciaries navigate the constantly evolving defined contribution space.

About Nuveen

Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has more than $1 trillion in assets under management as of 30 June 2019 and operations in 23 countries. Its affiliates offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.

About SEI Trust Company

SEI Trust Company (the "Trustee") serves as the Trustee of the Fund and maintains ultimate fiduciary authority over the management of, and the investments made in, the Fund. The Trustee is a trust company organized under the laws of the Commonwealth of Pennsylvania and is a wholly owned subsidiary of SEI Investments Company (SEI).

About SEI

Now in its 50th year of business, SEI (NASDAQ:SEIC) is a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of June 30, 2019, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages, advises or administers $970 billion in hedge, private equity, mutual fund and pooled or separately managed assets, including $335 billion in assets under management and $630 billion in client assets under administration. For more information, visit seic.com


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