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CREF |
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The company originally founded in 1918 by Andrew Carnegie to provide retirement security for educators gradually evolved into a huge pension system with two arms: TIAA, an insurance company for people employed in higher education and research, and CREF, a pension system offering eight variable annuity accounts, including the CREF stock account - the largest single-managed equity fund in the world. CREF has pointed out that Disney's directors include Eisner's attorney Irwin Russell; architect Robert Stern, who designed Eisner's home; Reveta Bowers, principal of the elementary school Eisner's children attended; the Rev. Although CREF outperforms most mutual funds (its size keeps expenses low, and Biggs and Jones have put a lid on expenses to keep them that way), the myriad investment choices of the better-known funds are appealing. |
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