Global investment manager Nuveen has announced that it is partnering with SEI Trust Company to enhance its TDF offerings.
According to the announcement, the Nuveen TIAA Lifecycle Blend CIT series will consist of 12 funds with a blend of active and passive holdings, including 11 TDFs at five-year intervals for retirement dates 2010 through 2060 and a retirement income fund for those already in retirement.
The new CITs will be managed by Nuveen’s mixed assets portfolio management team, while the trustee will be SEI Trust Company, which will maintain fiduciary authority over the management of and the investments made in the CIT.
The series will employ a glidepath that extends 30 years past retirement 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.
