As it readies for a massive pruning of its mutual fund family, Columbia Management Investment Advisers is promising a stronger, more affordable lineup.
The Boston-based firm, a unit of Ameriprise Financial, Inc., has announced plans to consolidate 71 funds, which will leave it with a lineup of about 150 funds. The changes should save fund shareholders about $30 million a year, according to Chris Thompson, head of product management and marketing for Columbia Management.
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