RICHMOND, Va.--(BUSINESS WIRE)--RiverFront Investment Group (RiverFront), a global asset manager utilizing a dynamic investment approach with uncommon transparency, today announced a reduced fee structure and new names for the RiverFront Global Allocation Series, which is advised by ALPS Advisors, Inc. (ALPS) and sub-advised by RiverFront.
Effective February 28, 2018, the new names, which were approved by the Board of Directors (Board) of the Financial Investors Trust, are designed to more clearly reflect each Fund’s investment objective and to better serve investors. The symbols remain the same, as shown in the table below:
Old Fund Name |
New Fund Name |
Class C |
Class I |
Class Inv |
||||||||
RiverFront Conservative Income Builder | RiverFront Asset Allocation Income & Growth | RCCBX | RCIBX | RCABX | ||||||||
RiverFront Moderate Growth & Income | RiverFront Asset Allocation Moderate | RMICX | RMIIX | RMIAX | ||||||||
RiverFront Dynamic Equity Income | RiverFront Asset Allocation Growth & Income | RLGCX | RLIIX | RLGAX | ||||||||
RiverFront Global Allocation | RiverFront Asset Allocation Growth | RMGCX | RMGIX | RMGAX | ||||||||
RiverFront Global Growth | RiverFront Asset Allocation Aggressive | RLTCX | RLFIX | RLTAX | ||||||||
The new fee structure will reduce the expense ratios of the funds by an average of 0.65% excluding the acquired fund fee expenses (AFFE). If the AFFE are included, fees will be reduced by 0.26% to 0.35%, depending on the fund. The Board believes these fee reductions will make the funds more competitive with their peers. Please see prospectus for details on all fees.
Total Expense Ratios |
||||||||||||
Fund Name |
Class C |
Class I |
Investor Class |
|||||||||
RiverFront Asset Allocation Income & Growth |
1.79 |
% |
0.79 |
% |
1.04 |
% |
||||||
RiverFront Asset Allocation Moderate |
1.81 |
% |
0.81 |
% |
1.06 |
% |
||||||
RiverFront Asset Allocation Growth & Income |
1.91 |
% |
0.91 |
% |
1.16 |
% |
||||||
RiverFront Asset Allocation Growth |
1.93 |
% |
0.93 |
% |
1.18 |
% |
||||||
RiverFront Asset Allocation Aggressive |
1.95 |
% |
0.95 |
% |
1.20 |
% |
||||||
“We are pleased to be able to announce this fee reduction for the Funds, along with the changes to the Fund names,” said Ned Burke*, Chief Executive Officer of ALPS Holdings, Inc. “We believe these adjustments will make the Funds more competitive with their peers and further demonstrate RiverFront’s commitment to its current and potential investors.”
These fee reductions are made possible as the result of the Board approving the use of a series of RiverFront sub-advised exchange traded funds (ETFs) as the primary investment vehicles of the Funds. The sub-advised ETFs are listed below:
Sub-Advised ETFs |
Symbols |
||||
RiverFront Dynamic US Flex Cap ETF | RFFC | ||||
RiverFront Dynamic US Dividend Advantage ETF | RFDA | ||||
RiverFront Dynamic Core Income ETF | RFCI | ||||
RiverFront Dynamic Unconstrained Income ETF | RFUN | ||||
First Trust RiverFront Dynamic Developed International ETF | RFDI | ||||
First Trust RiverFront Dynamic Europe ETF | RFEU | ||||
First Trust RiverFront Dynamic Asia Pacific ETF |
RFAP | ||||
First Trust RiverFront Dynamic Emerging Market ETF | RFEM | ||||
For more information about any of the changes, please contact us at 866-583-0744 or info@riverfrontig.com.
Important Disclosures
An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus, which contains this and other information, please contact your investment professional. Read the prospectus carefully before investing.
The performance of the Funds relative to its benchmark will depend largely on the decisions of the RiverFront Investment Group, LLC (the “Sub-Advisor” or “RiverFront”) as to strategic asset allocation and tactical adjustments made to the asset allocation. At times, RiverFront’s judgments as to the asset classes in which the Fund should invest may prove to be wrong, as some asset classes may perform worse than others or the equity markets generally from time to time or for extended periods of time. The performance of the Fund is related to the economic sectors that RiverFront may choose to emphasize or deemphasize from time to time, as well as to the individual securities selected by RiverFront within those sectors. The investment returns for particular economic sectors will fluctuate and may be lower than other sectors. In addition, the individual securities chosen for investment within a particular sector may underperform other securities within that same sector. Certain stocks selected for the Fund’s portfolio may decline in value more than the overall stock markets.
The value of the Fund’s investments in fixed-income securities will generally decrease when interest rates rise, which means the Fund’s NAV will likewise decrease.
The RiverFront Global Allocation Series is not suitable for all investors. Subject to investment risks, including possible loss of the principal amount invested.
The RiverFront Global Allocation Series is a series of Financial Investors Trust.
*Registered Representative of ALPS Distributors, Inc. and ALPS
Portfolio Distributors, Inc.
ALPS Distributors, Inc. and
ALPS Portfolio Distributors, Inc. are affiliated.
ALPS
Portfolio Solutions Distributor, Inc. is the distributor for the Fund.
ALPS Advisors, Inc. is the investment advisor to the Fund and RiverFront
Investment Group, LLC is the investment sub-advisor. ALPS is not
affiliated with RiverFront Investment Group, LLC.
The RiverFront Global Allocation Series is: Not FDIC Insured - No Bank Guarantee - May Lose Value.
About RiverFront
RiverFront Investment Group, LLC, is an independent SEC-registered investment advisor headquartered in Richmond, VA advising approximately $7.5 billion in assets (discretionary and non-discretionary) as of December 31, 2017, through a series of global asset allocation models, mutual funds, and sub-advised exchange-traded funds. Majority owned by its employees, the firm provides asset management, investment advice, and insightful market commentary. For more information about RiverFront, please visit www.riverfrontig.com.