RJ and Makay

Lipper, a Thomson Reuters company, has revealed the winners of its 2011 mutual fund awards. The awards are considered high honors because only funds that have delivered consistently strong risk-adjusted performance versus their peers are chosen as winners. The awards are announced each year at ceremonies in 23 countries in Asia, Europe, MENA, and the Americas.

Individual mutual funds can win a Lipper for outstanding performance in their asset class for the trailing three, five, and ten-year periods; one-year returns may be recognized in special cases. Fund families can also win a Lipper for strong overall results during the prior three years.

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."

The percentage of Americans who trust the U.S. financial system has climbed from the lows of the financial crisis and recession, rising recently to 26% from 20% about a year ago. However, that obviously still leaves plenty of room for improvement.

Trust in the financial system is measured with the Chicago Booth/Kellogg School Financial Trust Index, which is calculated quarterly by University of Chicago and Northwestern University researchers using the results of a representative survey of about 1,000 Americans. The survey is designed to gauge respondents' trust in the institutions "in which they can invest their money." The latest survey covered the fourth quarter and likely revealed an uptick in the trust index related to improvement in the economy, stock markets, and employment outlook.