Tuesday, April 01, 2008
RiverSource Brings in a British Brand
News summary by MFWire's editors
, a subsidiary of Ameriprise
, is hoping U.S. investors will soon come to know the Threadneedle
brand. The company has rebranded four if its funds that are sub-advised by London-based asset management firm Threadneedle. RiverSource executives said the
rechristening is aimed at better differentiating funds that are managed in-house from those than are sub-advised.
Company Press Release
LONDON — (March 31, 2008) — Threadneedle, a leading global asset manager based in London, has come to America. Four RiverSource mutual funds have been rebranded under the Threadneedle name to bring greater clarity to the comprehensive investment platform offered by RiverSource Investments. The name change helps differentiate funds managed solely by RiverSource from those that are subadvised by Threadneedle International Limited and other partners.
"We are excited to establish the Threadneedle name and brand in the U.S. marketplace as we continue to expand our global presence," said William Lowndes, head of U.S. distribution for Threadneedle Investments. "Our goal is to provide U.S. retail and institutional investors with broader access to our comprehensive investment capabilities."
As of Dec. 31, 2007, the Threadneedle group of companies manages more than $137 billion of assets and delivers services to clients in 15 countries with a team of more than 130 talented investment professionals all centrally based in London. Threadneedle and RiverSource Investments are both wholly-owned subsidiaries of Ameriprise Financial, Inc., (NYSE: AMP).
The four U.S. retail funds managed by Threadneedle are now named:
* Threadneedle Emerging Markets Fund (formerly RiverSource Emerging Markets Fund)
* Threadneedle European Equity Fund (formerly RiverSource European Equity Fund)
* Threadneedle Global Equity Fund (formerly RiverSource Global Equity Fund)
* Threadneedle International Opportunity Fund (formerly RiverSource International Opportunity Fund)
The funds are available through Ameriprise financial advisors and non-affiliated banks and broker-dealers.
In 2007, Threadneedle delivered its strongest year ever for U.K. equity investment performance, with 80 percent of equity funds above the median of their respective S&P peer groups at year end. Threadneedle won 2008 U.K. Lipper Fund Awards for Best Overall Group and Best U.K. Equity Group, both in the large category.*
*Data relates to U.K. funds managed by Threadneedle Asset Management Limited, which shares all investment staff with Threadneedle International Limited. These U.K. funds are not available for sale in the U.S.
Threadneedle International Limited, an FSA- and SEC-registered investment adviser that subadvises certain U.S mutual funds managed by RiverSource Investments, LLC, is a subsidiary of Threadneedle Asset Management Holdings Limited. Threadneedle International Limited and its U.K. affiliates operate under the brand name Threadneedle. Threadneedle was founded in 1994 and manages more than $137 billion* of assets, including property, for a wide range of clients including pension funds, insurance companies, private investors, corporations, mutual funds and affiliate group companies. Threadneedle reaches customers in 15 countries, across four continents and has more than 600 staff members in nine locations: United Kingdom, France, Netherlands, Germany, Austria, Switzerland, Spain, Sweden and Denmark.
For more information, visit threadneedle.com.
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