MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, May 23, 2012 Introducing American Funds of Funds Capital Group executives just debuted the first American Funds [profile] 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. Denise Cassin, 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. Printed from: MFWire.com/story.asp?s=40093 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |