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  • Global Cities REIT (GCREIT)
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Fund highlights
  • Total return focus: Invests in real estate companies that benefit from lower supply growth, higher occupancy rates and strong rent growth due in part to high entry barriers or supply constraints
  • Invests in undervalued securities: Emphasis on forward-looking property fundamentals and underlying real estate value (net asset value) as sources of potential growth and investment return
  • Risk aware: Well-capitalized balance sheets and superior construction or quality of assets aid in mitigating downside risks

Fund description

The Fund seeks to obtain a favorable long-term total return through both capital appreciation and current income, by investing primarily in equity securities of companies principally engaged in or related to the real estate industry. It typically invests at least 80% of its assets in real estate securities, including those of companies that own significant real estate assets, such as real estate investment trusts (REITs). The Fund is actively managed using a research-oriented investment process with a focus on cash flows and asset values. The Fund does not invest directly in real estate. It may invest up to 15% of its assets in real estate securities of foreign issuers and up to 20% in equity (including preferred stock) and debt securities of issuers that are not engaged in or related to the real estate industry.

Important fund notice

Effective 01 May 2024, the Fund's name changed from TIAA-CREF Real Estate Securities Fund to Nuveen Real Estate Securities Select Fund. In addition, effective 06 May 2024, the Fund's Institutional, Advisor and Retail share classes were renamed, and an up-front sales charge was applied to certain purchases of Class A shares (formerly Retail Class shares). Please see the Fund's prospectus supplement dated 22 Jan 2024 for more details. These changes will not impact the Fund's investment strategy or portfolio management.

For term definitions and index descriptions, please access the glossary in the footer.

Fund basics

Performance

  • Average annual total returns
  • Calendar year returns
  • Morningstar ratings

Average annual total returns

Performance data shown represents past performance and does not predict or guarantee future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown. Total returns for a period of less than one year are cumulative. Returns without sales charges would be lower if the sales charges were included. Returns assume reinvestment of dividends and capital gains.

*Performance shown for the Since Inception period and prior to the Fund's inception date is based on the performance of the Fund's R6 Class. Performance has not been restated to reflect the higher expenses of this share class. If the expense differential had been reflected, performance for these periods would have been lower.

Calendar year returns

Morningstar ratings

Morningstar ratings may vary among share classes and are based on historical risk-adjusted total returns, which are not indicative of future results.

Pricing

Breakpoint pricing

*CDSC information: Sales charges of 0.00% are subject to a contingent deferred sales charge (CDSC). For Class A shares unless you are eligible for a waiver, you may be assessed a CDSC of 0.70% if you redeem any of your shares within 12 months of purchase. For Class C shares a CDSC of 1% on redemptions within 12 months of purchase.

**A negative SEC 30-Day Yield results when accrued expenses of the past 30 days exceed the income generated during the past 30 days.


***The Taxable-Equivalent Yield for a Fund’s share class with a negative SEC 30-Day Yield is not provided because it does not represent the yield that must be earned on a taxable investment in order to equal the yield of the Fund on an after-tax basis and therefore does not provide a meaningful comparison of the Fund’s yield against the yield of a taxable investment at the assumed tax rate.

Please see the Mutual fund pricing guide for more complete information and important disclosures regarding this section.  Past performance does not guarantee future results.  The SEC 30-Day Yield is computed under an SEC standardized formula and is based on the maximum offer price per share. The Taxable-Equivalent Yield [TEY] represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis at a specified tax rate. With respect to investments that generate qualified dividend income that is taxable at a rate lower than an individual’s ordinary graduated tax rate, the TEY would be lower. The TEY is based on the Fund’s Distribution Rate or SEC 30-Day Yield on the indicated date and the combined federal and state (if applicable) income tax rate shown. 

Breakpoint pricing

*CDSC information: Sales charges of 0.00% are subject to a contingent deferred sales charge (CDSC). For Class A shares unless you are eligible for a waiver, you may be assessed a CDSC of 1% if you redeem any of your shares within 18 months of purchase. For Class C shares a CDSC of 1% on redemptions within 12 months of purchase.

Please see the Mutual fund pricing guide for more complete information and important disclosures regarding this section.  Past performance does not guarantee future results. 

Distributions

Distribution history

For additional details about the Fund’s ordinary income, see the Fund’s Section 19(a) Notice.

Characteristics

  • Portfolio allocation
  • Sector allocation

Portfolio allocation

Sector allocation

Securities lending may be utilized, and in such cases the collateral is included in the Short-Term assets shown.

All characteristics as a percentage of the fund's total net assets. Holdings and ratings are subject to change. Totals may not add up to 100% due to rounding.

Top ten portfolio positions

The holdings are subject to change and may not be representative of the Fund’s current or future investments. The holdings listed includes the Fund’s long-term investments and excludes any temporary cash investments and equity index products. Top holdings by issuer (for other than fixed income securities) includes the underlying ordinary shares combined with any depositary receipts, preferred shares, contract for differences (CFDs), rights, options and warrants. The holdings listed should not be considered a recommendation to buy, sell or hold a particular security.

Literature

  • Fund literature
  • Prospectuses & reports
  • 19a notices

Important information on risk

Mutual fund investing involves risk; principal loss is possible. There is no guarantee the Fund’s investment objectives will be achieved. The real estate industry is greatly affected by economic downturns or by changes in real estate values, rents, property taxes, interest rates, tax treatment, regulations, or the legal structure of the REIT. Concentrating assets in a particular industry, sector of the economy, or markets may increase volatility because the investment will be more susceptible to the impact of market, economic, regulatory, and other factors affecting that industry or sector compared with a more broadly diversified asset allocation. Non-U.S. investments involve risks such as currency fluctuation, political and economic instability, lack of liquidity and differing legal and accounting standards. These and other risk considerations, such as active management, issuer, mid-cap, and small-cap risks, are described in detail in the Fund’s prospectus.

Returns quoted represent past performance which is no guarantee of future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown. Total returns for a period of less than one year are cumulative. Returns without sales charges would be lower if the sales charges were included. Returns assume reinvestment of dividends and capital gains.

Class A shares are available for purchase through certain financial intermediaries or by contacting the Fund directly at (800) 257-8787. Retirement Class and Premier Class shares are generally available for purchase through employee benefit plans or other types of savings plans or accounts. Class I shares are available for purchase through certain financial intermediaries and employee benefit plans. Class R6 shares are available for purchase directly from the Fund by certain eligible investors (which include employee benefit plans and financial intermediaries). Class W shares have limited availability, please see the Fund’s prospectus for more details.

The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. ©2024 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

Before investing, carefully consider fund investment objectives, risks, charges and expenses. For this and other information that should be read carefully, please request a prospectus or summary prospectus from your financial professional or Nuveen at 800.257.8787.

Nuveen, LLC provides investment solutions through its investment specialists. Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC are registered investment advisers and affiliates of Nuveen.

Nuveen Securities, LLC, member FINRA and SIPC.

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Distribution history

Distribution history

Breakpoint pricing history

*CDSC information: Sales charges of 0.00% are subject to a contingent deferred sales charge (CDSC). For Class A shares unless you are eligible for a waiver, you may be assessed a CDSC of 1% if you redeem any of your shares within 18 months of purchase. For Class C shares a CDSC of 1% on redemptions within 12 months of purchase.

Please see the Mutual fund pricing guide for more complete information and important disclosures regarding this section.  Past performance does not guarantee future results. 

Maturity breakdown details

All portfolio positions

The holdings are subject to change and may not be representative of the Fund’s current or future investments. The holdings listed includes the Fund’s long-term investments and excludes any temporary cash investments and equity index products. Top holdings by issuer (for other than fixed income securities) includes the underlying ordinary shares combined with any depositary receipts, preferred shares, contract for differences (CFDs), rights, options and warrants. The holdings listed should not be considered a recommendation to buy, sell or hold a particular security.