First American Funds Launches New Retirement Share Class
07 7월 2004 - 8:00PM
PR Newswire (US)
First American Funds Launches New Retirement Share Class New R
Share Class is Designed for Small- and Mid-Sized Employer-Sponsored
Retirement Plans MINNEAPOLIS, July 7 /PRNewswire-FirstCall/ -- U.S.
Bancorp Asset Management today announced that First American Funds
is adding a retirement (R) share class to the 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. A full line of First American
Funds will now be available in an R share class, including: --
Taxable bond funds - Core Bond, Corporate Bond, High Income Bond,
U.S. Government Mortgage -- Lifecycle funds - Strategy Aggressive,
Strategy Growth, Strategy Growth & 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 new R shares will
be available through third-party retirement platform providers and
broker-dealers providing services to retirement plans across the
country. 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. "We
created R shares to meet the increased demand for our funds from
third-party retirement platforms and their brokers," according to
Wendy Schoppert, head of product, marketing and corporate
development at U.S. Bancorp Asset Management. "This new share class
serves the needs of the rapidly growing small- to mid-sized plan
marketplace, and we look forward to expanding relationships with
our distribution partners in the months ahead." One of the
platforms that will offer the new R shares is BISYS Retirement
Services. Christopher Guarino, president of BISYS, said, "The
retirement plan sponsors we support continually search for new
investment options for their plan participants. I believe First
American is a first-rate fund family that encompasses a wide range
of mutual funds that span the asset classes. We welcome the
opportunity to offer plan sponsors, and ultimately, retirement plan
participants, this full line of new no-load R-share-class funds."
About First American Funds The First American Funds mutual fund
family is the fifth-largest bank- proprietary fund family in the
United States, with more than $56 billion** in 46 open-end funds.
The funds are advised by U.S. Bancorp Asset Management. About U.S.
Bancorp Asset Management U.S. Bancorp Asset Management is a
national investment firm that serves as the registered investment
advisor to First American Funds and provides customized portfolio
management to private clients, corporations, public entities,
nonprofit organizations, and other institutions. The firm is one of
the nation's leading money managers, with more than $122 billion**
in assets under management. * While the R share class will be sold
without sales loads, management and distribution fees, and other
expenses still apply. Please refer to the prospectus for details.
** Total assets listed as of March 31, 2004 The funds' investment
objectives, risks, charges, and expenses must be considered
carefully before investing. The prospectus contains this and other
important information about First American Funds, and it may be
obtained by calling First American Investor Services at
800.677.FUND or visiting http://www.firstamericanfunds.com/ . Read
the prospectus carefully before investing. Investment products,
including shares of mutual funds, are not obligations of, or
guaranteed by, any bank, including U.S. Bank or any U.S. Bancorp
affiliate, nor are they insured by the Federal Deposit Insurance
Corporation, the Federal Reserve Board, or any other agency. An
investment in such products involves investment risk, including
possible loss of principal. Mutual fund investing involves risk;
principal loss is possible. Investing in certain funds involve
special risk, such as those related to investments in foreign
securities, small and mid-capitalization stocks, high-yield
securities, and funds which focus their investments in a particular
industry. Please refer to the prospectus for more details
pertaining to these risks. Strategy Aggressive Allocation, Strategy
Growth Allocation, Strategy Growth & Income Allocation, and
Strategy Income Allocation Funds are each a "fund of funds"
comprised of holdings in several different First American funds,
which may include small-cap, mid-cap, large-cap, money market,
international and/or sector funds. The investment advisor allocates
and reallocates the Fund's assets among the underlying First
American funds within ranges designed to meet the investment
objective. See the prospectus for an illustration of these ranges
and special risks, which are associated with the underlying funds.
Securities that are issued by the U.S. Government, its agencies or
instrumentalities, are guaranteed as to principal and interest
payments. The U.S. Government Mortgage Fund offers no such
guarantee. U.S. Bancorp Asset Management, Inc., serves as the
investment advisor to First American Funds. First American Funds
are distributed by Quasar Distributors, LLC, an affiliate of the
investment advisor. DATASOURCE: U.S. Bancorp Asset Management, Inc.
CONTACT: Cheryl B. Stone, Vice President, Public Relations of U.S.
Bancorp Asset Management, +1-612-303-5657 Web site:
http://www.firstamericanfunds.com/
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