The decision to begin using criteria of the KLD Broad Market Social Index will help ensure consistency with the investment strategy of the Social Choice Account, according to TIAA-CREF senior vice president and head of corporate governance John Wilcox, Reuters reported.
Specifically, TIAA-CREF decided that investing in community development such as low income housing and in private venture capital projects is not feasible in the Social Choice Account, Reuters reported.
According to Wilcox, it would be difficult and costly to value such investments on a daily basis, the news report said.
The company recently named a new SRI director (See TIAA-CREF Names Social Investing Director ).
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