BoA Mutual Fund Unit Issues R Shares for Retirement Plans

January 24, 2006 ( - Columbia Management, the mutual fund unit of Bank of America has announced it is issuing "R" shares in 13 of its mutual funds to be sold only through retirement plans.

The company said this initial offering may open the door for similar share classifications within its other funds, according to the Boston Business Journal.

“With this introduction of a retirement share class, we are able to provide additional choices by offering advisors a menu of pricing options based on retirement plan size,” said Keith Banks, Columbia’s president and chief investment officer, in a prepared written statement.

The Boston-based asset manager manages around $332 billion in client assets.  Its Web site is .