Ameriprise 2009 Annual Report Download - page 24

our investment products. We have implemented different Standard Chartered Bank’s World Express Investment Funds
approaches to investment management depending on whether the business.
investments in our portfolio are fixed income or equity. We expect
We have continued to invest to deliver consistent and strong
to acquire additional capabilities for the definition and
investment performance by enhancing our investment
management of investment processes in connection with the
management leadership, talent, technology infrastructure and
Columbia purchase.
distribution capabilities. In November 2008 we acquired the
In the United States, our fixed income investment management Seligman companies and retained key investment professionals
teams are centralized in Minneapolis, with our leveraged loan and management talent. Seligman offers asset management
team located in Los Angeles. Our fixed income teams are services emphasizing open- and closed-end investment funds,
organized by sectors, including for example, investment grade, hedge funds and institutional accounts. Seligman manages the
high yield, municipal, global and structured. This sector-based nation’s first growth mutual fund and helped develop single-state
approach creates focused and accountable teams organized by municipal funds. Seligman is recognized in particular for its
expertise. Portfolio performance is measured to align client and accomplished technology investment team, which manages retail
corporate interests, and asset managers are incented to and alternative portfolios, including Seligman Communications
collaborate, employ best practices and execute in rapid response and Information Fund, and for its value-oriented offerings.
to changing market and investment conditions consistent with
In addition to growth through acquisition, we are continuing to
established portfolio management principles. Our equity
capitalize on our broad asset management capabilities by creating
investment management teams are located in Boston, MA,
new retail and institutional investment products, including 3 new
Cambridge, MA, Minneapolis, MN, New York, NY and Palo Alto,
RiverSource mutual funds, 1 fund within Threadneedle’s Open
CA. We have implemented a multi-platform approach to equity
Ended Investment Company (‘‘OEIC’’) offerings, and 1 fund within
asset management using individual, accountable investment
the Threadneedle Societe d’Investissement ` a Capital Variable
management teams with dedicated analytical and equity trading
(‘‘SICAV’’) offerings, all of which launched in 2009. SICAVs and
resources. Each team focuses on particular investment strategies
OEICs are European mutual funds that meet the requirements of
and product sets. We intend to combine the activities of
the Undertakings for Collective Investment in Transferable
RiverSource Investments with those of Columbia beginning upon
Securities (‘‘UCITS’’) Directive, and thus are eligible to be
the expected spring 2010 consummation of that acquisition and
marketed throughout Europe. SICAVs are domiciled in
continuing into 2011. The organization and configuration of U.S.
Luxembourg, and OEICs in the United Kingdom. We also provide
portfolio management and analytical teams and trading resources,
seed money to certain of our investment management teams to
as well as U.S. Asset Management’s operational, compliance, sales
develop new products for our institutional clients.
and marketing support, are expected to change significantly in
connection with the Columbia integration.
Asset Management Offerings
We offer international investment management products and
services through Threadneedle, which is headquartered in Mutual Fund Families — RiverSource and Threadneedle
Luxembourg and which has its primary operations in London. The We provide investment advisory, distribution and other services
Threadneedle group of companies provides investment to two families of mutual funds: the RiverSource and
management products and services independent from our other Threadneedle mutual fund families.
affiliates. Threadneedle offers a wide range of asset management
The RiverSource family of funds includes both retail mutual
products and services, including segregated asset management,
funds, which are available through the Ameriprise financial
mutual funds and hedge funds to institutional clients as well as to
advisor network, as part of Ameriprise institutional 401(k) plans
retail clients through intermediaries, banks and fund platforms in
and through third-party financial institutions, and variable
Continental Europe, the United Kingdom and the Asia-Pacific
product funds, which are available as underlying investment
region. These services comprise most asset classes, including
options in variable annuity and variable life products. Mutual
equities, fixed income, commodities, cash and real estate.
funds in the RiverSource family of funds are branded as
Threadneedle also offers investment management products and
RiverSource Funds, Seligman Funds and Threadneedle Funds.
services to U.S. investment companies and other U.S. institutional
The RiverSource family of funds includes domestic and
clients, including certain RiverSource Funds. In 2009, the
international equity funds, fixed income funds, cash management
number of Threadneedle Funds sold in the U.S. increased to
funds, balanced funds and fund-of-funds, with a variety of
seven. In March 2009 Threadneedle entered into a distribution
investment objectives.
agreement to become a strategic partner and global fund provider
to Standard Chartered Bank which included the acquisition of
ANNUAL REPORT 2009 9