The parent company of First American Funds has entered a retirement share class into its mutual fund family, in a move to populate smaller companies’ retirement plans.

Through its fund subsidiary, U.S. Bancorp Asset Management, First American is reaching out to companies with assets ranging from $1 million to $10 million by offering R shares to third-party retirement plan providers and broker/dealers. Index, large-cap, mid-cap, small-cap and many other types of funds will be made available for the employer-sponsored plans. While the R shares will not have front-end or contingent deferred sales loads or other back-end surrender charges, they will charge 12b-1 fees to compensate financial advisers.

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