RiverSource Investments, owned by Ameriprise Financial, manages the family of mutual funds formerly known as IDS. Follow these steps to investigate the mutual funds that this company offers.
Learn About RiverSource Mutual Funds (Formerly IDS)
Go to the RiverSource Investments Web site (see the Resources section below) for the most up-to-date information on these funds.
Peruse the list of funds in the family, which contains about 75 different funds to choose from.
Download a sample fact sheet for a fund. The fact sheet will give you important summary information.
Look at a prospectus. You should never invest in a mutual fund without reading the prospectus. Download a sample prospectus from the RiverSource Web site to discover what a typical prospectus contains.
Review a sample fund's quarterly performance to learn how the fund has performed recently. Compare its performance with benchmark indicators such as an index or to other funds in its class.
Study a recent semiannual report. These often contain analysis or comments from a fund's manager that may offer insight into a fund. For example, the semiannual report from the RiverSource Aggressive Growth Fund (known as "AXP Partners Aggressive Growth Fund" under IDS) contains comments from the fund's chairman.
Examine a fund's holdings to see what kind of stocks or bonds the fund manager invests in. Information on a fund's holdings tells you exactly where your money is.
Invest in RiverSource Mutual Funds (Formerly IDS)
Purchase funds through a dealer or broker.
Invest in RiverSource mutual funds through your 401(k) or other plan. If you're self-employed, you can include these funds in your plan.
Ask your bank, credit union or another financial institution if you can purchase RiverSource mutual funds through them.
- Note the name changes of many funds in the family since the switch to RiverSource. Specifically, funds whose names began with the designation "AXP" have changed to names that begin with "RiverSource."
- Watch out for fees. RiverSource mutual funds are most commonly sold through representatives, such as brokers, who may charge you fees for services above the fees charged by the mutual fund itself.
- Information on IDS mutual funds that you may find on a financial Web site is likely to be outdated unless it specifically notes the name change from IDS to RiverSource.
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