TIAA-CREF Institute/New York University Research Seminar - Understanding and Using Inflation Bonds"

New York University (Midtown)
New York, NY
March 2003

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For individuals seeking an investment that provides guaranteed inflation protection and portfolio diversification, it is worthwhile to take a good look at Treasury Inflation Protected Securities (TIPS). As of August 2002, the total value outstanding has grown to over $150 billion and investor interest continues to increase. TIPS now represent more than 6% of the $2.3 trillion in total tradable U.S. Treasury notes and Bonds.

This seminar discussed the results of a recent study of inflation bonds by Brett Hammond, Director, Portfolio Studies, TIAA-CREF. In particular the seminar examined:

• the differences between TIPS and regular bonds
• the portfolio benefits of TIPS
• the improvement of income protection in retirement.