Yet another mutual fund advisor has chosen to shed its corporate name and rebrand itself, adding to the growing list of fund groups that recently have, or soon will, change their own names or those of their proprietary mutual funds.
Later this week, U.S. Bancorp Asset Management of Minneapolis will morph into FAF Advisors. The new name leverages an abbreviated version of its successful $55 billion proprietary mutual fund group's brand, the First American Funds. The fund group sports 44 funds and was recently recognized by Lipper of New York as the best mixed equity small fund group for the three-year period ended Dec. 31, 2005 among 497 small fund companies. That Lipper designation is awarded to the group with the best three-year risk-adjusted performance using a combination of stocks and bonds to achieve consistent returns.