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Alps adds RiverFront fund to investment lineup

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Alps Advisors, a provider of advisory solutions to the investment management industry, says shareholders of the RiverFront Long-Term Growth Fund have approved the reorganisation of the fund into the Alps-sponsored Financial Investors Trust.

The Alps fund will effectively assume the assets of the RiverFront Long-Term Growth Fund currently offered as a series of Baird Funds, following the close of business on 24 September.

The predecessor fund has the same sub-adviser, investment objective and investment strategy as the new Alps offering.

Alps had previously registered five share classes, including investor class and L class shares, to reflect the expected fund adoption.

In August, Alps partnered with RiverFront Investment Group on the launch of the RiverFront Global Allocation Series. The RiverFront Long-Term Growth Fund will round out the series that currently offers: RiverFront Moderate Growth Fund, RiverFront Long-Term Growth & Income Fund, and RiverFront Moderate Growth & Income Fund.

"We’ve been looking forward to the arrival of the RiverFront Long-Term Growth Fund to the Alps lineup," says Corey Dillon, senior vice president and director of advisory services for Alps Advisors. "The marketplace has enthusiastically embraced the RiverFront investment approach, and we’re eager to go forward with the full Global Allocation Series." 

The USD55m RiverFront Long-Term Growth Fund was launched in October 2008 with an objective of long-term capital appreciation. The portfolio is built around a strategic and tactical global allocation that allocates investments to large, small and mid-cap stocks, international securities, including emerging markets, and other investments.

"We’re a portfolio management team that’s worked together for many years, and we’re proud of the job RiverFront has done so far in meeting the needs of advisors and their clients," says Michael Jones, chief investment officer of RiverFront. "We’re particularly excited about this partnership with Alps, and we look forward to success from our combined efforts."

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