Rebranding has been a noticeable trend over the last few months, particularly in the mutual fund arena.

Just last week, executives of The Reserve Funds of New York, creator of the first money market fund, announced they would drop the "Funds" from the firm's moniker and become the shorter "The Reserve" to reflect an expanding business. And this past Fall, with the spinoff of the American Express financial advisers unit from the American Express card and travel unit, the asset management and insurance division was rebranded Ameriprise Financial, while its American Express Funds were renamed RiverSource Funds.

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