Columbia to market Excelsior Funds

The addition of the 26 funds is the result of the recent Bank of America acquisition of U.S. Trust Corp.
SEP 11, 2007
Columbia Management Distributors, Inc. of Boston will begin selling Excelsior Funds October 1. The addition of the 26 funds is the result of the recent Bank of America acquisition of U.S. Trust Corp. Columbia Management acquired Excelsior Funds, with more than $21 billion in assets as of June 30, which will be sold through its 200-plus sales force. “They’ve got some good performance, but I think they will have some of the fundamental problems of being a relatively unknown name in the marketplace,” said Geoffrey Bobroff, a Greenwich, R.I., mutual fund consultant. Columbia Management, the investment management division of Bank of America, has $566 billion in assets and offers some 88 mutual funds.

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