The RiverSource 120/20 Contrarian Equity Fund employs a contrarian philosophy to help identify undervalued, misunderstood or forgotten stocks, according to a press release. The fund is designed to hold stocks in which the management team has a high conviction and to sell short a variety of instruments such as exchange-traded funds (ETFs), potentially reducing industry and sector risks. Proceeds from the short sales may be used to further enhance the fund’s investment in its long positions. The fund’s benchmark is the Russell 3000 Index.

The RiverSource 130/30 U.S. Equity Fund is designed to take full advantage of the management team’s research insights to uncover long opportunities with high anticipated returns and reveal potential poor performers that can be sold short. The fund’s benchmark is the Russell 1000 Index.

The RiverSource Absolute Return Currency and Income Fund holds positions in a combination of forward currency contracts and fixed income investments. The fund’s goal is to generate positive total returns, regardless of market performance. The portfolio managers enter into long and short forward currency contracts gaining exposure to major currencies based on expected return rankings from a proprietary quantitative model. The team also invests a significant portion of the fund’s assets in short duration bonds, designed, in part, to generate ongoing income.

Previously available only through RiverSource Advice-Built Solutions, the RiverSource Absolute Return Currency and Income Fund is now available through Ameriprise financial advisers and select non-affiliated banks and broker/dealers, the release said.

The funds require a minimum initial investment of $10,000.

More information is available at www.ilovealpha.com.