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The deal will add more than $221-billion in assets to TIAA-CREF’s roughly $569-billion in assets under management, broadening its portfolio with closed-end municipal bond funds that offer regular, annuity-type payouts.
The deal will add more than $221-billion in assets to TIAA-CREF’s roughly $569-billion in assets under management, broadening its portfolio with closed-end municipal bond funds that offer regular, annuity-type payouts.
(Alex Slobodkin/iStockphoto)

Money managers bet big on value stocks

Wall Street strategists have been arguing that recent market jitters coincide with a rotation out of high-priced growth stocks and into cheaper value stocks. Turns out, money managers are thinking along the same lines.

Bank of America’s fund manager survey for April revealed that a net 40 per cent of respondents believe that value stocks will outperform growth stocks over the next 12 months. That’s a record high and more than triple the level since the March survey.