A news release said that new offerings include three RiverSource Income Builder Series funds-of-funds, a small-cap value fund, an emerging markets bond fund and a floating rate fund. They are available through Ameriprise Financial’s advisors and Ameriprise Financial retirement plans.
According to the announcement, the RiverSource Income Builder Series consists of three income-generating funds-of-funds with varying levels of risk and yield. The funds’ objective is to maximize potential yield, protect against inflation and minimize risk.
The RiverSource Investments’ specialized investment teams incorporate a strategic asset allocation based on RiverSource Investments’ proprietary asset allocation modeling, and leverage the capabilities of the company’s Fixed Income team to over/under weight investments in certain categories, the announcement said.
Portfolio management and asset allocation for RiverSource Income Builder Series is provided by RiverSource Investments Fixed Income team, which leads asset class selection, provides qualitative review of monthly allocations and manages the underlying fixed income funds.
RiverSource Investments Disciplined Equity and Asset Allocation Team provides quantitative asset allocation modeling and manages certain underlying equity funds.
In addition to RiverSource Income Builder Series, RiverSource Investments launched three additional mutual funds:
- RiverSource Disciplined Small Cap Value Fund seeks to provide shareholders with long-term growth of capital by investing primarily in small-cap value stocks such as those included in the Russell 2000 Value Index. The fund is managed by the Disciplined Equity and Asset Allocation team using a quantitative process based on proprietary stock selection models and a proprietary optimizer designed to minimize volatility and to maximize risk-adjusted returns.
- RiverSource Emerging Markets Bond Fund aims to add income potential over time by investing primarily in emerging markets debt securities. The fund is managed by the Minneapolis-based Fixed Income team.
- The objective of the RiverSource Floating Rate Fund is to provide high current income that rises in response to increasing interest rates with capital preservation as a secondary goal. The fund primarily invests in floating rate debt instruments, including bank loans, adjustable rate mortgages and floating rate asset-based securities.