New R Share Class is Designed for Small- and Mid-Sized Employer-Sponsored
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
-- 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
* 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
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
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.
SOURCE 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 /
CO: U.S. Bancorp Asset Management, Inc.; First American Funds; Quasar
Distributors, LLC; BISYS Retirement Services; U.S. Bancorp
IN: FIN MFD
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7239 07/07/2004 06:00 EDT http://www.prnewswire.com