My retirement funds are at TIAA-CREF. (I had no choice about that.)
It seems that there is only one index fund available to me. But for some reason, I chose to also put some $$ in two of their other equities funds.
Here are the descriptions of the three funds:
CREF Equity Index Fund
QCEQRX, Expense Charge .39%
This variable annuity account seeks a favorable long-term rate of return from a diversified portfolio selected to track the overall market for common stocks publicly traded in the United States, as represented by a broad stock market index. The account buys most, but not necessarily all, of the securities in its benchmark index, and will attempt to create a portfolio that closely matches the overall investment characteristics of this index.
CREF Growth
QCGRRX, Expense Charge .42%
This variable annuity account seeks a favorable long-term rate of return, mainly through capital appreciation, primarily from a diversified portfolio of common stocks that present the opportunity for exceptional growth. Under normal circumstances, the account invests at least 80% of its assets in common stocks and other equity securities. The account invests primarily in large, well-known, established companies, particularly those with new or innovative products, services or processes that may enhance future earnings prospects. To a lesser extent, the account may also invest in smaller companies with higher growth potential as well as companies in new and emerging areas of the economy. It may invest in companies in order to benefit from prospective acquisitions, reorganizations or corporate restructurings. The account may also invest up to 20% of its assets in foreign securities.
CREF Global Equities Account
QCGLRX, Expense Charge .47%
This variable annuity account seeks a favorable long-term rate of return through capital appreciation and income from a broadly diversified portfolio that consists primarily of foreign and domestic common stocks. Under normal circumstances, the account invests at least 80% of its assets in equity securities of foreign and domestic companies. The account uses a variety of different investment strategies to seek out attractively priced companies, of any capitalization size, that management believes are undervalued based on the company's prospects for growth in earnings, cash flow, revenues and other relevant measures. Particular focus is placed on companies with shareholder-oriented management teams dedicated to creating value.
My question: Should I take all my funds from CREF Growth and CREF Global Equities and put them in CREF Equity Index Fund?
Note: From what I can tell, the Index Fund follows the Russell 3000 Index.
Thanks very much.