, the Minneapolis-based fund arm of Ameriprise, begins offering six new mutual funds today, including three RiverSource Income Builder Series
funds-of-funds, a small-cap value fund, an emerging markets bond fund and a floating rate fund.
To protect against inflation and reduce risk, its Income Builder Series
packages three income-generating funds-of-funds with various risk and yield levels. The series is managed by the fixed-income team and the disciplined equity and asset allocation team.
The firm has also added three other mutual funds.
The Disciplined Small Cap Value Fund
, which provides shareholders with long-term growth of capital by investing mostly in small-cap value stocks, will be managed by its disciplined equity and asset allocation team.
The Emerging Markets Bond Fund
, which seeks to add income potential gradually by investing mainly in emerging markets debt securities, will be overseen by the fixed-income team. It plans to limit exposure to foreign currencies and employs a top-down country focused approach.
And finally, the Floating Rate Fund
, which provides high current income that rises after increasing interest rates, will be managed by the fixed income team and the Los Angeles-based bank loan team. It invests in floating rate debt instruments, such as bank loans, adjustable rate mortgages and floating rate asset-based securities. The fund, which will also focus on capital preservation, may also invest part of its assets in non-floating rate instruments, such as various fixed-income securities, and short-term money market instruments for liquidity, diversification and incremental return.
All six funds were filed with the SEC on Nov. 23, 2005.
RiverSource Investments, a subsidiary of Ameriprise Financial, Inc.
, will offer its funds through Ameriprise financial advisors and retirement plans.
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