First American Adds R Shares

July 7, 2004 ( - First American Funds is adding a retirement (R) share class to its fund family.

The new R shares are designed primarily to serve the needs of the small- to mid-sized employer-sponsored 401(k) retirement plans with assets in the $1 million to $10 million range, U.S. Bancorp Asset Management said in a news release.   Available in the R share class from First American Funds will be:

  • Taxable bond funds – Core Bond, Corporate Bond, High Income Bond, U.S. Government Mortgage
  • Lifecycle funds – Strategy Aggressive, Strategy Growth, StrategyGrowth & Income, Strategy Income
  • Growth and income funds – Equity Income, Balanced
  • Index funds – Equity Index, Mid Cap Index, Small Cap Index
  • Large-cap funds – Large Cap Growth Opportunities, Large Cap Select,Large Cap Value
  • Mid-cap funds – Mid Cap Growth Opportunities, Mid Cap Value
  • Small-cap funds – Small Cap Growth Opportunities, Small Cap Select,Small Cap Value
  • Sector funds – Real Estate.

The shares will be sold with no front-end or contingent deferred sales loads or surrender charges and will offer a 50-basis-point 12b-1 immediate trail to financial advisors.