Tuesday, May 18, 2021

TIAA Real Estate Fund

I haven't gotten around to reviewing the TIAA Real Estate Fund yet, but have decided to buy more of it. There are two reasons. First, after reviewing the CREF Social Choice Fund, I'm a bit concerned that it is 40% bonds even though it has been a pretty decent fund relative to benchmarks. Second, it looks like timing is good to switch into TIAA Real Estate. The following chart shows its monthly returns and a 12 month moving average:

The fund does well after recessions but with a lag compared to the stock market. The moving average has just turned the corner again and monthly returns are above anything seen in recent years. In March I switched out of this fund as I was worried about the pandemic and into Social Choice and Money Market. Then in December I switched back into Real Estate. Now I just switched most of my remaining holding of Social Choice.

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