TIAA-CREF has launched the TIAA-CREF Global Natural Resources Fund, aimed at providing investors with diversification, a hedge against inflation and an opportunity to participate in the growing demand for resources among the world’s seven billion population.

“Regardless of short-term volatility in financial markets, we believe these factors offer an attractive long-term investment opportunity,” said Navaneel Ray, portfolio manager of the fund and a managing director with TIAA-CREF who has 17 years of industry experience. “We believe seven billion people around the world will drive powerful long-term demand in the natural resources sector. This demand, bolstered by income growth in developing countries and the scarcity of supply sources will help sustain pricing power for commodity producers.”

The fund will invest both in companies actively involved in the exploration, production and distribution of natural resources, as well as their suppliers. The fund’s benchmark will be equally weighted among energy, agriculture and metals.

Lee Barney writes for Money Management Executive.