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.
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