Citing an unexpected number of small, dormant accounts among its investors, TIAA-CREF announced today that it will substantially increase the minimum investments consumers put forward when they open regular mutual fund accounts.

The company said it has opened too many accounts containing relatively small amounts of assets since it began offering mutual funds four years ago. Those small accounts, which also typically see little activity, have become too expensive to cost-effectively manage, say TIAA-CREF officials.

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