First American Funds, the proprietary fund family of US Bank, has brought down sales charges on the First American Short Tax Free Fund (FSHAX) and First American Short Term Bond Fund (FALTX).

The Minneapolis-based fund firm scrapped upfront sales charges for investors who make purchases of at least $250,000 of Class A shares. For those who make purchases in the $100,000 to $249,000 range, First American Funds lowered upfront sales charges from 175 basis points to 125 bps.

First American Funds had a total of $6.1 billion in AUM across its more than 50 open-end mutual funds as of end-June. The First American  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE