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Financial advisors who work at broker-dealers are increasingly managing their clients’ fee-based accounts, according to a Cerulli Associates report today.  So-called reps-as portfolio-manager programs, where an advisor is granted discretion in making individual investment decisions for clients, are expected to more than double, to $823 billion in 2015 from $406 billion today.

The 2^nd annual US Investment Management awards will be held Monday, May 16, 2011 at the Mandarin Oriental Hotel, New York City.

Sponsored by Institutional Investor, the event recognizes money managers for exemplary performance, risk management and service.

Seven mutual funds run by Columbia Management have received 2011 Lipper Fund Awards, says Ameriprise Financial, which owns Columbia. Here are the seven funds that won the award for consistently achieving the strongest risk-adjusted performance relative to their peers over the three, five, or 10-year period ending December 31, 2010.

• Columbia 120/20 Contrarian Equity Fund (I shares), Extended Large-Cap Core category (35 funds) - 3 years
• Columbia US Treasury Index Fund (Z shares), General U.S. Treasury category (35 funds) - 3 years
• Columbia European Equity Fund (I shares), European Region category (88 funds) - 5 years
• Columbia Acorn International (Z shares), International Small/Mid-Cap Growth category (26 funds) - 10 years
• Columbia Oregon Intermediate Municipal Bond (Z shares), Other States Intermediate Municipal Debt category (92 funds) - 10 years
• Columbia Strategic Investor Fund (Z shares), Multi-Cap Core category (277 funds) - 10 years
• Columbia Technology Fund (Z shares), Science & Technology category (101 funds) - 10 years

"Having seven funds in seven separate categories recognized by Lipper demonstrates the depth and breadth of the Columbia Management product line-up," says Ted Truscott, CEO of U.S. Asset Management for Ameriprise Financial. "These awards are a testament to the disciplined investment processes and in-depth research capabilities of our investment management teams."