Columbia Management has added R Shares to 13 of its funds. The shares, which will be available only to retirement plans and will carry fees that vary depending on plan size, are targeted and small-to-mid-size retirement plans. It is the first time that Columbia has offered R Shares, and the firm is already considering adding them to other funds.
"With the introduction of a retirement share class, we are able to provide additional choices by offering advisers a menu of pricing options based on retirement plan size," Keith Banks, president of Columbia Management, said in a statement. "The pricing provides an opportunity for retirement plan decision-makers to choose Columbia's highly competitive investment products."