Investing your money on mutual funds can be a profitable venture if you have chosen a competitive and trusted financial company for this. Your money, along with other investor’s money, will be invested by the fund manager on securities like stocks, commodities, money market instruments, and bonds. Choosing a company that has proven its competitive edge on the market is a good start in your investment. RiverSource Funds have at least 60 retail mutual funds with about $60 billion assets. That alone is a good indication that the former IDS, a family of mutual funds, is a good way to go.
Investing in RiverSource mutual funds doesn’t have to be difficult. For investors like you, the steps are already made simpler. Follow the steps below when investing money in one of the former IDS mutual funds:
- Study RiverSource mutual funds. Visit the RiverSource page about mutual funds and see your options. There are many funds to choose from. Study each fund or use the website’s search option to find a fund. Choose among the long-term winners, solid but small-growth funds, and conservative bond funds. You may choose based on the index funds, potentially profitable funds or the so-called “hidden gem,” and the lower-risk in foreign funds. Another option is to choose among the highest rated funds or the best-performing funds. Remember that the data quickly changes everyday. The best today can be the worst tomorrow.
- Assess the funds’ performance. You don’t have to visit the website everyday to get a grasp of how a particular fund performs. Simply download the Fund Analyst Reports. This will give you a hint or a guide on what funds to choose and what funds to avoid. The information will help you decide to which fund you should invest.
- Read the fund’s prospectus. The law requires RiverSource and other mutual fund companies to disclose all of the important information about funds through their prospectus. Get a copy of the chosen fund’s prospectus and never invest on it without reading this.
- Study the recent performance of the fund. RiverSource has to publish every mutual fund’s performance on at least a quarterly basis. The fund’s recent performance will tell you whether it worked well or not. Compare its performance also to benchmark indicators like index or other funds’ performance.
- Purchase the fund through a broker or dealer. Only deal with authorized persons when entrusting your investment. Every fund in the family of RiverSource mutual funds has its own set of dealers and brokers. If you are not sure about the person, you can contact RiverSource to confirm his active connection to the company.
When purchasing, you can invest your own money, use 401 (k) and other plans, or ask a financial institution like bank or credit union for a fund. Other fees may apply if you purchase the fund through a broker. You may negotiate the fee if it seems very high for you.
Investing on RiverSource mutual fund is already a big step towards your way of making more money. It can be risky but it can be profitable, too. Erase the risk by following the steps above.