Ameriprise Financial is expanding its discretionary mutual fund wrap program through its new Active Diversified Portfolio series, by adding to its line-up of investment managers.

“As individual investors seek to grow their assets in today's complex market environment, it's important for them to find accessible, advice-embedded investment approaches that fit their unique financial and personal needs,” said Sarah McKenzie, senior vice president of brokerage and managed products at Ameriprise Financial.

The Active Diversified Portfolio funds will be managed by Wilshire Associates and include a range of aggressive to conservative mutual funds from more than 20 different fund companies, and includes a “tax-sensitive” version that emphasizes tax-exempt funds that trade infrequently.

The new funds are part of Ameriprise’s Active Portfolio family, launched in February 2007 and now holding more than $3.2 billion in assets as of Sept. 30, 2008.

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