executives just debuted the first American Funds
] funds of funds. Karen De Masters for Financial Advisor reported
on the launches, which will form part of the American Funds Portfolio Series
News of the impending launches broke
last month, when InvestmentNews
wondered if the mutual fund giant was "losing its touch with financial advisers" by getting in their way and offering funds of funds.
, senior vice president and director of the individual investor business for American Fund Distributors, told Financial Advisor
that the move is a way to help advisors get investors back into the markets.
“The past three or four years have been rough on advisors’ clients and some investors may be traumatized," Cassin said.
The new offerings are divided into three categories: the Tax-Exempt Preservation Portfolio
and Preservation Portfolio
are the preservation funds of funds; the Tax-Advantaged Income Portfolio
, Income Portfolio
, Balanced Portfolio
and Growth and Income Portfolio
are balanced funds; and the Growth Portfolio
and Global Growth Portfolio
are in the more aggressive appreciation segment.
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