MINNEAPOLIS — June 15, 2006 — RiverSource Investments, LLC, a subsidiary of Ameriprise Financial, Inc. (NYSE:AMP), today announced the hiring of Richard T. LaCoff as municipals sector team leader. As of March 31, 2006, RiverSource Investments managed approximately $13 billion in tax-exempt assets.
In this role, LaCoff will be lead portfolio manager for all team-managed, RiverSource tax-exempt portfolios. This includes nine tax-exempt mutual funds, the largest of which is RiverSourceSM Tax-Exempt High Income Fund, which had more than $3.3 billion in assets as of March 31, 2006.
LaCoff has more than 12 years experience as a fixed income portfolio manager, trader and strategist. Prior to joining RiverSource Investments, LaCoff was the head of municipal bond strategy and trading for Payden & Rygel Investment Counsel. During his nine years with the firm, he held a number of positions including head of non-dollar investment grade credit, senior municipal bond strategist and portfolio manager. In addition to his time at Payden & Rydel, LaCoff spent five years with the Vanguard Group.
"Rick is an outstanding addition to both our municipal bond team and our fixed income leadership team," said Michelle Keeley, executive vice president – equity and fixed income. "He has a strong background as a portfolio manager and trader and will lead our efforts to drive consistent, competitive results in tax-exempt portfolios."
RiverSource Investments develops and manages asset growth, preservation and income solutions that revolve around the needs of today's investors. The firm's specialized investment platform provides access to investment and research professionals located in strategic investment centers in the U.S. and overseas. As a leading source of investment insight and innovation, RiverSource Investments delivers a full range of solutions across the risk return spectrum, to retail investors and their advisors and to institutional investors including corporations, pension funds, governments, foundations and endowments. For more information, visit www.riversource.com/investments.
RiverSource Investments, LLC is an SEC-registered investment adviser that offers investment products and services under the names RiverSource Institutional Advisors, RiverSource Alternative Investments, RiverSource Capital Management and RiverSource Insurance Assets.
Ameriprise Financial, Inc. is a leading financial planning and services company with more than 12,000 financial advisors and registered representatives that provides solutions for clients' asset accumulation, income management and insurance protection needs. The Company's financial advisors deliver tailored solutions to clients through a comprehensive and personalized financial planning approach built on a long-term relationship with a knowledgeable advisor. The Company specializes in meeting the retirement-related financial needs of the mass affluent. Financial advisory services and investments are available through Ameriprise Financial Services, Inc. Member FINRA and SIPC. For more information, visit www.ameriprise.com.
You should consider the investment objective, risks, charges and expenses for a fund carefully before investing. For a free copy of a prospectus, which contains this and other information about RiverSource Funds, please call (800) 297-3863 or visit www.riversource.com/investments. Read the prospectus carefully before you invest.
Investment products, including shares of mutual funds, involve risks including possible loss of principal and fluctuation in value.
RiverSourceSM mutual funds are managed by RiverSource Investments, LLC and distributed by Ameriprise Financial Services, Inc., Member FINRA. Both companies are part of Ameriprise Financial, Inc.
Contact:
Ryan Lund
RiverSource Investments, LLC
612-671-3459
ryan.s.lund@ampf.com