As expected, it looks like Bank of America
is rebranding the Columbia Management
money market business. Crane Data anticipates
that the Columbia money fund unit will become Bank of America Funds Management soon, pointing from a New York Cash Exchange conference mailing that lists Bank of America Funds Management as participating in the May treasury management show.
On January 1, BofA moved
the Columbia money funds into a new trust, the BoFa Funds Series Trust, without yet rebranding the individual funds themselves.
Fundsters may not be surprised at all by BofA's moves. The re-branding comes even as BofA prepares to close its $1 billion sale of the rest of Columbia to Ameriprise
this spring, and Ameriprise has confirmed that it plans to use the Columbia brand for much of the combined Columbia-RiverSource
operation. And in November, when BofA announced that it would retain the Columbia money fund business as part of the deal, the bank also said that it planned to rebrand the money fund unit.
Neil Anderson, Managing Editor
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