The fee for three of the RiverFront Global Allocation Series mutual funds has been reduced by 0.15% and expenses are now capped at 0.90%.
The affected funds include the RiverFront Moderate Growth and Income Fund, RiverFront Global Allocation Fund and RiverFront Dynamic Equity Income Fund. The RiverFront Global Growth Fund remains capped at 0.90% per the terms of a previous expense limitation agreement.
In addition, ALPS and RiverFront launched the RiverFront Conservative Income Builder Fund as a new income option within the ALPS Portfolio Solutions suite of products. Designed to be the most conservative investment option among the five RiverFront Global Allocation Series portfolios, the fund is expected to have between 30% and 50% of its assets invested in a diversified basket of dividend-paying stocks, with the balance of the fund invested in various other income-paying securities.
ALPS is a Denver-based financial services firm focused on asset services and asset gathering. RiverFront Investment Group is an independent registered investment advisor based in Richmond, Virginia.