RiverSource
Encyclopedia
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
of Ameriprise Financial, Inc. RiverSource is made up of RiverSource Investments, RiverSource Annuities, and RiverSource Insurance.
RiverSource Funds include more than 60 retail mutual funds and more than 20 variable portfolio mutual funds sold in variable annuity and variable insurance products offered by RiverSource Annuities and RiverSource Insurance. RiverSource Funds are currently available to individual and institutional U.S. investors. The more than 60 retail mutual funds had approximately $60 billion in assets under management
Assets under management
Assets under management is a financial term used denote the market value of funds being managed by a financial instutition on behalf of its clients, investors, depositors, etc. This metric is a sign of size and success against competition...
as of June 30, 2005.
RiverSource Investments
RiverSource Investments provides mutual funds for individual investorInvestor
An investor is a party that makes an investment into one or more categories of assets --- equity, debt securities, real estate, currency, commodity, derivatives such as put and call options, etc...
s and investment
Investment
Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...
strategies for institutional investor
Institutional investor
Institutional investors are organizations which pool large sums of money and invest those sums in securities, real property and other investment assets...
s.
William (Ted) Truscott, Ameriprise Financial
Ameriprise Financial
Ameriprise Financial, Inc. is one of the leading diversified financial services companies in the U.S. Ameriprise Financial engages in business through its...
chief investment officer and a former executive with Zurich Scudder Investments in Boston, joined what was then American Express Financial Advisors in 2001. He changed the structure of the mutual fund business by opening "boutique" offices in places such as Boston, Cambridge, Minneapolis and London, where portfolio managers hand-pick staff and develop their own investment strategies appropriate to the funds.
Data as of 9/30/2006 Morningstar Fund Family Snapshot http://quicktake.morningstar.com/FundFamily/Snapshot.asp?Country=USA&Symbol=10138
RiverSource Insurance
RiverSource Insurance offers fixed and variable life insuranceLife insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
and disability insurance for individual investors.