UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-2591
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RIVERSOURCE MONEY MARKET SERIES, INC.
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(Exact name of registrant as specified in charter)
50606 Ameriprise Financial Center, Minneapolis, Minnesota 55474
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(Address of principal executive offices) (Zip code)
Scott R. Plummer - 5228 Ameriprise Financial Center, Minneapolis, MN 55474
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(Name and address of agent for service)
Registrant's telephone number, including area code: (612) 671-1947
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Date of fiscal year end: 7/31
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Date of reporting period: 1/31
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Semiannual Report
RIVERSOURCE [LOGO](R)
INVESTMENTS
RIVERSOURCE(R)
CASH MANAGEMENT FUND
SEMIANNUAL REPORT FOR
THE PERIOD ENDED
JAN. 31, 2007
> RIVERSOURCE CASH MANAGEMENT
FUND SEEKS TO PROVIDE
SHAREHOLDERS WITH MAXIMUM
CURRENT INCOME CONSISTENT WITH
LIQUIDITY AND STABILITY OF
PRINCIPAL.
TABLE OF CONTENTS
Fund Snapshot ........................................................... 3
Performance Summary ..................................................... 4
Questions & Answers with Portfolio Management ........................... 6
Fund Expenses Example ................................................... 9
Investments in Securities ............................................... 11
Financial Statements .................................................... 15
Notes to Financial Statements ........................................... 18
Proxy Voting ............................................................ 32
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2 RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT
FUND SNAPSHOT AT JAN. 31, 2007
FUND OVERVIEW
RiverSource Cash Management Fund primarily invests in money market securities,
such as commercial paper, bankers' acceptances and CDs, to provide current
income.
SECTOR BREAKDOWN
Percentage of portfolio assets
Commercial Paper 69.6%
Floating Rate Notes 22.0% [PIE CHART]
Certificates of Deposit 8.4%
STYLE MATRIX
[chart] Shading within the style matrix indicates areas in which the Fund
generally invests.
DURATION
SHORT INT. LONG
X HIGH
MEDIUM QUALITY
LOW
The style matrix can be a valuable tool for constructing and monitoring
your portfolio. It provides a frame of reference for distinguishing the types
of stocks or bonds owned by a mutual fund, and serves as a guideline for
helping you build a portfolio.
Investment products, including shares of mutual funds, involve investment
risks including possible loss of principal and fluctuation in value.
FUND FACTS
TICKER SYMBOL INCEPTION DATE
Class A IDSXX 10/6/75
Class B ACBXX 3/20/95
Class C -- 6/26/00
Class I RCIXX 3/4/04
Class R5 -- 12/11/06
Class W -- 12/1/06
Class Y IDYXX 3/20/95
Total net assets $4.423 billion
Number of holdings 139
WEIGHTED AVERAGE MATURITY(1) 62 days
(1) WEIGHTED AVERAGE MATURITY is the amount of time remaining before
securities are due and principal must be repaid.
An investment in a money market fund is not insured or guaranteed by the
Federal Deposit Insurance Corporation or any other government agency. Although
the Fund seeks to maintain the value of your investment at $1.00 per share, it
is possible to lose money by investing in the Fund.
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RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT 3
PERFORMANCE SUMMARY
FUND PERFORMANCE
For the six-month period ended Jan. 31, 2007
[THE FOLLOWING TABLE WAS REPRESENTED AS A BAR CHART IN THE PRINTED MATERIAL.]
RiverSource Cash Management Fund Class A +2.39%
The performance information shown represents past performance and is not a
guarantee of future results. The investment return and principal value of your
investment will fluctuate so that your shares, when redeemed, may be worth
more or less than their original cost. Current performance may be lower or
higher than the performance information shown. You may obtain performance
information current to the most recent month-end by contacting your financial
institution or visiting riversource.com/funds.
The Fund is neither insured nor guaranteed by the FDIC (Federal Deposit
Insurance Corporation) or any other government agency. Although the Fund seeks
to preserve the value of your investment at $1 per share, it is possible to
lose money by investing in the Fund. Yields will fluctuate. The seven-day
current yield more closely reflects the current earnings of the Fund than the
total return. The performance of other classes may vary from that shown
because of differences in expenses.
ANNUAL OPERATING EXPENSE RATIO (AS OF THE CURRENT PROSPECTUS)
CLASS A CLASS B CLASS C CLASS I CLASS R5(b)
Total 0.82% 1.47% 1.48% 0.41% 0.45%
Net Expenses(a) 0.73% 1.38% 1.39% 0.41% 0.45%
CLASS W(b) CLASS Y
Total 0.70% 0.60%
Net Expenses(a) 0.70% 0.60%
(a) The investment manager and its affiliates have contractually agreed to
waive certain fees and to absorb certain expenses until July 31, 2007,
unless sooner terminated at the discretion of the Fund's Board. Any
amounts waived will not be reimbursed by the Fund. Under this agreement,
net expenses will not exceed 0.73% for Class A; 1.38% for Class B; 1.39%
for Class C; 0.53% for Class I; 0.51% for Class R5; 0.76% for Class W;
and 0.60% for Class Y.
(b) Inception date for Class R5 is Dec. 11, 2006. Inception date for Class W
is Dec. 1, 2006. For Class R5 and Class W, expenses are based on
estimated amounts for the current fiscal year.
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4 RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT
PERFORMANCE SUMMARY
AVERAGE ANNUAL TOTAL RETURNS
AT JAN. 31, 2007
SINCE
Without sales charge 6 MONTHS* 1 YEAR 3 YEARS 5 YEARS 10 YEARS INCEPTION
Class A (inception 10/6/75) +2.39% +4.58% +2.67% +1.92% +3.42% +6.13%
Class B (inception 3/20/95) +2.05% +3.89% +2.06% +1.33% +2.74% +3.03%
Class C (inception 6/26/00) +2.05% +3.90% +2.06% +1.34% N/A +1.94%
Class I (inception 3/4/04) +2.55% +4.91% N/A N/A N/A +3.11%
Class R5 (inception 12/11/06) N/A N/A N/A N/A N/A +0.66%*
Class W (inception 12/1/06) N/A N/A N/A N/A N/A +0.76%*
Class Y (inception 3/20/95) +2.45% +4.71% +2.80% +2.03% +3.48% +3.78%
With sales charge
Class B (inception 3/20/95) -2.95% -1.11% +0.76% +0.95% +2.74% +3.03%
Class C (inception 6/26/00) +1.05% +2.09% +2.06% +1.34% N/A +1.94%
AT DEC. 31, 2006
SINCE
Without sales charge 6 MONTHS* 1 YEAR 3 YEARS 5 YEARS 10 YEARS INCEPTION
Class A (inception 10/6/75) +2.38% +4.47% +2.54% +1.86% +3.42% +6.14%
Class B (inception 3/20/95) +2.04% +3.79% +1.94% +1.28% +2.74% +3.02%
Class C (inception 6/26/00) +2.04% +3.79% +1.94% +1.28% N/A +1.91%
Class I (inception 3/4/04) +2.54% +4.80% N/A N/A N/A +3.04%
Class R5 (inception 12/11/06) N/A N/A N/A N/A N/A +0.23%*
Class W (inception 12/1/06) N/A N/A N/A N/A N/A +0.34%*
Class Y (inception 3/20/95) +2.44% +4.61% +2.67% +1.97% +3.48% +3.77%
With sales charge
Class B (inception 3/20/95) -2.96% -1.21% +0.64% +0.89% +2.74% +3.02%
Class C (inception 6/26/00) +1.04% +2.79% +1.94% +1.28% N/A +1.91%
Class B share performance reflects a contingent deferred sales charge (CDSC)
applied as follows: first year 5%; second and third years 4%; fourth year 3%;
fifth year 2%; sixth year 1%; no sales charge thereafter. Class C shares may
be subject to a 1% CDSC if shares are sold within one year after purchase.
Sales charges do not apply to Class A, Class I, Class R5, Class W and Class Y
shares. Class I, Class R5 and Class Y shares are available to institutional
investors only. Class W shares are offered through qualifying discretionary
accounts.
* Not annualized.
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RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT 5
QUESTIONS & ANSWERS WITH PORTFOLIO MANAGEMENT
Below is the discussion of RiverSource Cash Management Fund's results and
strategy for the six months ended Jan. 31, 2007.
Q: How did RiverSource Cash Management Fund perform for the 6 months ended
Jan. 31, 2007?
A: RiverSource Cash Management Fund's Class A shares returned 2.39% for the
six-month period. The Fund's annualized simple yield was 4.69% and its
annualized compound yield was 4.80% for the seven-day period ended Jan.
31, 2007.* The Fund serves as a conservative, shorter-term investment
choice for individuals seeking current income.
Q: What factors most significantly affected the Fund's performance?
A: The policies of the Federal Reserve Board (the Fed) and moderating
economic growth had the greatest effect on the Fund's results. Over the
past two years, the Fed has consistently raised interest rates by 0.25%
increments, bringing the targeted federal funds rate, an interest rate
that affects short-term rates, to 5.25% by the end of June 2006. As the
Fed raised rates, money market yields also moved higher. In early
August, the Fed observed its first pause in this two-year tightening
cycle causing yields to fall, as the market began to unwind the
possibility of future Fed hikes. The Fed then kept the federal funds
rate steady through the remainder of the period. The Fed has maintained
that any additional firming of monetary policy would be dependent on
incoming data for both inflation and economic growth. U.S. economic
growth slowed significantly over the course of calendar year 2006, with
gross domestic product moving consistently downward from 5.6% in the
first quarter to 2.6% in the second quarter and 2.0% in the third.
Consensus estimates for the fourth quarter growth were below 2.0%.
IN EARLY AUGUST, THE FED OBSERVED ITS FIRST PAUSE IN THIS TWO-YEAR TIGHTENING
CYCLE CAUSING YIELDS TO FALL, AS THE MARKET BEGAN TO UNWIND THE POSSIBILITY OF
FUTURE FED HIKES.
* The 7-day yields shown reflect more closely the current earnings of the
Fund than the total return. Short-term yields may be higher or lower
than the figures shown.
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6 RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT
QUESTIONS & ANSWERS
Given this backdrop, the money market yield curve had flattened during
the period, as short-term yields continued to move higher. In the last
months of the period, as expectations of Fed eases were priced into the
market, the money market yield curve actually inverted, meaning yields
at the short-term end of the curve were higher than those at the
longer-term end of the curve. As Fed policy shifted from anticipated to
actual over the period, we positioned the Fund accordingly.
Q: What changes did you make to the Fund during the period?
A: The Fund was prudently positioned to take advantage of a rising rate
environment by focusing its holdings on floating rate issues. This
strategy reflected our belief that floating rate issues, which are reset
in line with changes in market interest rates, were attractively valued
relative to fixed interest rate products in a rising interest rate
scenario. Indeed, these floating assets enabled the Fund to capture
higher rates through the frequent resets of the securities' yields.
Because we anticipated the Fed ending its tightening cycle, in early
August we became less defensive and invested more in longer-dated
fixed-rate securities. These longer-dated purchases enabled the Fund to
lock in higher yields vs. floating rate issues. These securities also
lengthened the Fund's average maturity to a range of 50 to 60 days. As
of Jan. 31, 2007, the average weighted maturity of the Fund was 62 days,
compared to 52 days at July 31, 2006. As always, we attempted to
maximize the Fund's yield without taking unnecessary risks. We continued
to invest in high quality securities.
Q: What is the Fund's tactical view and strategy for the months ahead?
A: We believe there is a high probability of the Fed keeping the targeted
federal funds rate at its current 5.25% for an extended period of time.
Given this view, we intend to continue to opportunistically lengthen the
Fund's weighted average maturity through fixed-rate securities as we
seek to lock in higher yields. We will continue to closely monitor
economic data, Fed policy and any shifts in the money market yield
curve, striving to strategically adjust our portfolio positioning
accordingly. We intend to continue to focus on high-quality investments
with minimal credit risk while seeking competitive yields.
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RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT 7
QUESTIONS & ANSWERS
INVESTMENT TERM
An INVERTED YIELD CURVE, also called a negative yield curve, occurs when
long-term debt instruments have lower yields than short-term debt instruments.
An inverted yield curve occurs when the demand for long-term instruments is
greater than the demand for short-term instruments, driving long-term rates
lower than short-term rates. This commonly occurs because the market
anticipates a declining interest rate environment. The chart below shows an
example of an inverted yield curve.
[Inverted Yield Curve graph]
Any specific securities mentioned are for illustrative purposes only and are
not a complete list of securities that have increased or decreased in value.
The views expressed in this statement reflect those of the portfolio
manager(s) only through the end of the period of the report as stated on the
cover and do not necessarily represent the views of RiverSource Investments,
LLC (RiverSource) or any subadviser to the Fund or any other person in the
RiverSource or subadviser organizations. Any such views are subject to change
at any time based upon market or other conditions and RiverSource disclaims
any responsibility to update such views. These views may not be relied on as
investment advice and, because investment decisions for a RiverSource Fund are
based on numerous factors, may not be relied on as an indication of trading
intent on behalf of any RiverSource Fund.
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8 RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT
FUND EXPENSES EXAMPLE
(UNAUDITED)
As a shareholder of the Fund, you incur two types of costs: (1) transaction
costs, including sales charges (loads); and (2) ongoing costs, which may
include management fees; distribution and service (12b-1) fees; and other Fund
fees and expenses. This example is intended to help you understand your
ongoing costs (in dollars) of investing in the Fund and to compare these costs
with the ongoing costs of investing in other mutual funds.
The example is based on an investment of $1,000 invested at the beginning of
the period and held for the six months ended Jan. 31, 2007.
ACTUAL EXPENSES
The first line of the table provides information about actual account values
and actual expenses. You may use the information in this line, together with
the amount you invested, to estimate the expenses that you paid over the
period. Simply divide your account value by $1,000 (for example, an $8,600
account value divided by $1,000 = 8.6), then multiply the result by the number
in the first line under the heading titled "Expenses paid during the period"
to estimate the expenses you paid on your account during this period.
HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES
The second line of the table provides information about hypothetical account
values and hypothetical expenses based on the Fund's actual expense ratio and
an assumed rate of return of 5% per year before expenses, which is not the
Fund's actual return. The hypothetical account values and expenses may not be
used to estimate the actual ending account balance or expenses you paid for
the period. You may use this information to compare the ongoing costs of
investing in the Fund and other funds. To do so, compare this 5% hypothetical
example with the 5% hypothetical examples that appear in the shareholder
reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your
ongoing costs only and do not reflect any transactional costs, such as sales
charges (loads). Therefore, the second line of the table is useful in
comparing ongoing costs only, and will not help you determine the relative
total costs of owning different funds. In addition, if these transactional
costs were included, your costs would have been higher.
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RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT 9
BEGINNING ENDING EXPENSES
ACCOUNT VALUE ACCOUNT VALUE PAID DURING ANNUALIZED
AUG. 1, 2006 JAN. 31, 2007 THE PERIOD(a) EXPENSE RATIO
Class A
Actual(b) $1,000 $1,023.90 $3.67 .72%
Hypothetical
(5% return before expenses) $1,000 $1,021.58 $3.67 .72%
Class B
Actual(b) $1,000 $1,020.50 $7.03 1.38%
Hypothetical
(5% return before expenses) $1,000 $1,018.25 $7.02 1.38%
Class C
Actual(b) $1,000 $1,020.50 $7.03 1.38%
Hypothetical
(5% return before expenses) $1,000 $1,018.25 $7.02 1.38%
Class I
Actual(b) $1,000 $1,025.50 $2.04 .40%
Hypothetical
(5% return before expenses) $1,000 $1,023.19 $2.04 .40%
Class R5
Actual(c) N/A N/A N/A N/A
Hypothetical
(5% return before expenses) $1,000 $1,022.79 $2.45 .48%
Class W
Actual(c) N/A N/A N/A N/A
Hypothetical
(5% return before expenses) $1,000 $1,021.83 $3.41 .67%
Class Y
Actual(b) $1,000 $1,024.50 $3.06(d) .60%
Hypothetical
(5% return before expenses) $1,000 $1,022.18 $3.06(d) .60%
(a) Expenses are equal to the Fund's annualized expense ratio as indicated
above, multiplied by the average account value over the period,
multiplied by 184/365 (to reflect the one-half year period).
(b) Based on the actual return for the six months ended Jan. 31, 2007:
+2.39% for Class A, +2.05% for Class B, +2.05% for Class C, +2.55% for
Class I and +2.45% for Class Y.
(c) The actual values and expenses paid are not presented because Class R5
and Class W do not have a full six months of history. The inception date
of Class R5 is Dec. 11, 2006 and the inception date of Class W is Dec.
1, 2006.
(d) Effective Dec. 11, 2006, the fee structure under the transfer agent
agreement was revised from an account-based fee to an asset-based fee,
and a new plan administration services agreement was adopted for Class
Y. If these changes had been in place for the six-month period ended
Jan. 31, 2007, the actual and hypothetical expenses paid would have been
the same as presented in the table above.
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10 RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT
INVESTMENTS IN SECURITIES
JAN. 31, 2007 (UNAUDITED)
(Percentages represent value of investments compared to net assets)
CERTIFICATES OF DEPOSIT (8.4%)
ISSUER EFFECTIVE AMOUNT VALUE(a)
YIELD PAYABLE AT
MATURITY
Bank of New York
02-14-07 4.78% $ 20,000,000 $ 20,000,000
BNP Paribas
03-16-07 5.27 40,000,000 40,000,000
Credit Suisse First Boston NY
03-29-07 4.99 22,000,000 22,000,000
06-26-07 5.52 40,000,000 40,000,000
Credit Suisse NY
01-14-08 5.29 34,000,000 34,000,000
Deutsche Bank NY
12-12-07 5.36 52,000,000 52,000,000
12-13-07 5.37 33,000,000 33,000,000
Natexis Banques Populair NY
05-03-07 5.11 20,000,000 20,000,000
Natixis
12-14-07 5.37 40,000,000 40,000,000
Societe Generale NY
01-16-08 5.40 50,000,000 50,000,000
Wells Fargo Bank
05-03-07 5.07 20,000,000 20,000,000
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TOTAL CERTIFICATES OF DEPOSIT
(Cost: $371,000,000) $371,000,000
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COMMERCIAL PAPER (90.9%)
ISSUER EFFECTIVE AMOUNT VALUE(a)
YIELD PAYABLE AT
MATURITY
ASSET-BACKED (62.4%)
Amsterdam Funding
04-02-07 5.21% $ 25,000,000(c) $ 24,781,250
05-02-07 5.21 27,000,000(c) 26,649,000
BA Credit Card Trust
02-05-07 4.22 31,500,000(c) 31,481,555
02-15-07 4.92 40,000,000(c) 39,918,100
03-05-07 5.12 26,000,000(c) 25,878,436
03-20-07 5.19 39,900,000(c) 39,625,998
04-03-07 5.21 33,000,000(c) 32,706,438
Beta Finance
02-20-07 5.00 17,000,000 16,952,896
COMMERCIAL PAPER (CONTINUED)
ISSUER EFFECTIVE AMOUNT VALUE(a)
YIELD PAYABLE AT
MATURITY
ASSET-BACKED (CONT.)
Bryant Park Funding LLC
02-05-07 4.21% $ 27,000,000(c) $ 26,984,220
03-27-07 5.17 21,000,000(c) 20,835,570
CAFCO LLC
02-13-07 4.89 59,000,000(c) 58,895,962
CC USA
03-08-07 5.11 21,000,000 20,893,221
CHARTA LLC
03-07-07 5.15 32,600,000(c) 32,437,743
03-12-07 5.16 24,000,000(c) 23,863,240
03-14-07 5.17 30,000,000(c) 29,820,283
04-20-07 5.24 38,000,000(c) 37,567,750
Chesham Finance LLC
02-09-07 4.67 23,000,000 22,973,167
02-23-07 5.09 32,000,000 31,896,356
02-27-07 5.08 40,000,000 39,848,044
02-28-07 5.10 20,000,000 19,920,950
03-05-07 5.11 9,900,000 9,853,800
03-07-07 5.14 35,000,000 34,825,873
04-12-07 5.20 14,350,000 14,204,348
Cheyne Finance LLC
02-06-07 4.39 12,000,000 11,991,217
03-08-07 5.13 19,000,000 18,903,113
03-12-07 5.14 30,000,000 29,829,700
03-16-07 5.15 20,000,000 19,874,822
04-13-07 5.22 29,500,000 29,195,134
04-20-07 5.29 23,000,000(b) 22,999,253
04-24-07 5.25 10,000,000 9,880,417
04-30-07 5.27 32,500,000 32,082,122
CIESCO LLC
03-23-07 5.19 12,000,000(c) 11,912,417
03-26-07 5.19 10,500,000(c) 10,418,844
Citibank Credit Card Issue Trust (Dakota Nts)
02-08-07 4.61 43,000,000(c) 42,956,021
04-11-07 5.23 67,000,000(c) 66,325,812
04-12-07 5.23 32,500,000(c) 32,168,229
Citigroup Funding
03-21-07 5.19 40,000,000 39,719,467
CRC Funding LLC
03-26-07 5.20 30,000,000(c) 29,767,683
See accompanying notes to investments in securities.
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RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT 11
COMMERCIAL PAPER (CONTINUED)
ISSUER EFFECTIVE AMOUNT VALUE(a)
YIELD PAYABLE AT
MATURITY
ASSET-BACKED (CONT.)
Cullinan Finance
02-16-07 4.93% $ 84,500,000 $ 84,315,103
03-15-07 5.28 25,000,000(b) 24,999,409
Deer Valley Funding LLC
02-07-07 4.53 48,135,000 48,092,641
02-09-07 4.71 25,000,000 24,970,611
02-27-07 5.10 8,000,000 7,969,493
02-28-07 5.12 95,000,000 94,623,462
Ebury Finance LLC
02-02-07 2.64 50,000,000 49,992,667
03-06-07 5.13 33,900,000 33,736,390
03-20-07 5.18 36,200,000 35,951,643
03-21-07 5.19 20,000,000 19,859,733
04-10-07 5.25 35,000,000 34,651,264
Fairway Finance
02-12-07 5.28 40,000,000(b) 39,999,817
Five Finance
02-02-07 2.63 19,200,000 19,197,200
03-01-07 5.08 12,050,000 12,000,890
03-26-07 5.20 2,800,000 2,778,317
04-10-07 5.23 50,000,000 49,504,167
04-17-07 5.25 14,580,000 14,420,228
05-17-07 5.25 17,000,000 16,741,175
Galaxy Funding
02-01-07 5.31 20,000,000(c) 20,000,000
02-13-07 4.85 38,000,000(c) 37,933,500
04-18-07 5.23 25,000,000(c) 24,723,181
04-26-07 5.24 34,000,000(c) 33,584,293
Gemini Securitization
02-01-07 5.28 53,800,000(c) 53,799,999
03-22-07 5.19 22,000,000(c) 21,842,492
03-29-07 5.21 22,000,000(c) 21,819,991
04-12-07 5.22 22,000,000(c) 21,775,844
Grampian Funding LLC
02-02-07 2.63 35,000,000(c) 34,994,896
05-11-07 5.24 17,000,000(c) 16,755,965
Nelnet Student Asset Funding LLC
02-07-07 4.52 20,000,000 19,982,433
02-08-07 4.62 29,000,000 28,970,227
02-12-07 4.85 65,000,000 64,895,132
03-13-07 5.18 29,000,000 28,829,867
03-19-07 5.20 33,000,000 32,777,360
Park Granada LLC
02-26-07 5.10 4,900,000(c) 4,882,033
COMMERCIAL PAPER (CONTINUED)
ISSUER EFFECTIVE AMOUNT VALUE(a)
YIELD PAYABLE AT
MATURITY
ASSET-BACKED (CONT.)
Park Sienna LLC
03-29-07 5.22% $ 53,500,000(c) $ 53,061,738
03-30-07 5.21 33,000,000(c) 32,725,165
05-04-07 5.26 35,000,000(c) 34,530,417
05-18-07 5.26 32,000,000(c) 31,507,218
06-15-07 5.28 25,000,000(c) 24,514,250
Ranger Funding LLC
04-16-07 5.23 18,000,000(c) 17,805,935
Scaldis Capital LLC
03-19-07 5.18 31,000,000(c) 30,791,646
Sedna Finance
04-20-07 5.24 21,000,000 20,761,125
05-08-07 5.19 32,000,000 32,000,000
09-20-07 5.33 78,000,000(b) 77,997,531
01-18-08 5.32 42,000,000(b) 41,995,961
Sheffield Receivables
03-23-07 5.18 27,000,000(c) 26,803,125
Solitaire Funding LLC
02-22-07 5.03 28,000,000(c) 27,914,250
03-20-07 5.18 35,900,000(c) 35,653,701
04-19-07 5.21 40,000,000(c) 39,553,400
Thunder Bay Funding LLC
04-16-07 5.24 50,000,000(c) 49,460,417
White Pine Finance LLC
03-28-07 5.22 32,000,000 31,742,356
--------------
Total 2,761,028,109
- -------------------------------------------------------------------------------
BANKING (13.0%)
Bank of America
02-15-07 4.91 40,000,000 39,918,333
03-09-07 5.12 33,000,000 32,827,410
05-21-07 5.26 45,200,000 44,484,930
Danske Bank
04-10-07 5.21 10,000,000(c) 9,901,211
DEPFA Bank
12-14-07 5.40 50,000,000(b) 50,000,000
Irish Life & Permanent
04-04-07 5.40 25,550,000(c) 25,310,845
02-21-08 5.36 35,000,000(b) 34,997,883
Natexis Banques Populaires
02-08-08 5.37 30,000,000(b) 30,000,000
02-15-08 5.33 27,000,000(b) 27,000,000
Northern Rock
01-09-08 5.44 59,300,000(b) 59,300,000
02-01-08 5.36 15,000,000(b) 15,000,000
See accompanying notes to investments in securities.
- --------------------------------------------------------------------------------
12 RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT
COMMERCIAL PAPER (CONTINUED)
ISSUER EFFECTIVE AMOUNT VALUE(a)
YIELD PAYABLE AT
MATURITY
BANKING (CONT.)
Skandinaviska Enskilda Banken
01-09-08 5.31% $ 20,000,000(b) $ 20,000,000
02-15-08 5.32 30,000,000(b) 30,000,000
UBS Stamford
11-28-07 5.35 42,000,000 42,000,000
Wells Fargo Bank
02-01-08 5.31 20,000,000(b) 20,000,000
Westpac Banking
05-01-07 5.21 35,000,000(c) 34,550,056
01-11-08 5.39 59,300,000(b) 59,300,000
------------
Total 574,590,668
- --------------------------------------------------------------------------
BROKERAGE (10.4%)
Bear Stearns Companies
02-21-07 5.01 40,000,000 39,883,333
10-05-07 5.33 45,000,000(b) 45,000,000
02-15-08 5.36 25,000,000(b) 25,000,000
02-28-08 5.38 30,000,000(b) 30,000,000
Goldman Sachs Group
02-15-08 5.37 25,000,000(b) 25,000,000
Lehman Brothers Holdings
06-26-07 5.34 25,000,000(b,c) 25,000,000
02-22-08 5.47 42,000,000(b) 42,000,000
Merrill Lynch & Co
07-27-07 5.29 25,000,000(b) 25,000,000
02-15-08 5.33 30,000,000(b) 30,000,000
Morgan Stanley
04-23-07 5.24 47,000,000 46,445,870
05-04-07 5.23 35,000,000 34,533,100
05-25-07 5.25 50,000,000 49,182,320
06-04-07 5.24 45,500,000 44,693,171
------------
Total 461,737,794
- --------------------------------------------------------------------------
COMMERCIAL PAPER (CONTINUED)
ISSUER EFFECTIVE AMOUNT VALUE(a)
YIELD PAYABLE AT
MATURITY
LIFE INSURANCE (0.7%)
MetLife Global Funding I
02-22-08 5.35% $ 30,000,000(b) $ 30,000,000
- ------------------------------------------------------------------------------------
NON CAPTIVE CONSUMER (1.9%)
SLM
02-15-08 5.32 42,500,000(b) 42,500,000
02-20-08 5.33 40,000,000(b) 40,000,000
--------------
Total 82,500,000
- ------------------------------------------------------------------------------------
NON CAPTIVE DIVERSIFIED (1.5%)
General Electric Capital
06-11-07 5.23 15,800,000 15,505,023
02-22-08 5.28 10,000,000(b) 10,000,000
General Electric Capital Services
02-06-07 4.37 2,000,000 1,998,544
04-05-07 5.18 40,000,000 39,635,300
--------------
Total 67,138,867
- ------------------------------------------------------------------------------------
OTHER FINANCIAL INSTITUTIONS (0.6%)
HSBC Finance
02-22-08 5.35 25,000,000(b) 25,000,000
- ------------------------------------------------------------------------------------
PHARMACEUTICALS (0.4%)
Eli Lilly
03-01-08 5.32 18,250,000(b) 18,250,000
- ------------------------------------------------------------------------------------
TOTAL COMMERCIAL PAPER
(Cost: $4,020,245,438) $4,020,245,438
- ------------------------------------------------------------------------------------
TOTAL INVESTMENTS IN SECURITIES
(Cost: $4,391,245,438)(d) $4,391,245,438
====================================================================================
NOTES TO INVESTMENTS IN SECURITIES
(a) Securities are valued by procedures described in Note 1 to the financial
statements.
(b) Interest rate varies either based on a predetermined schedule or to
reflect current market conditions; rate shown is the effective rate on
Jan. 31, 2007. The maturity date disclosed represents the final
maturity. For purposes of Rule 2a-7, maturity is the later of the next
put or interest rate reset date.
- --------------------------------------------------------------------------------
RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT 13
NOTES TO INVESTMENTS IN SECURITIES (CONTINUED)
(c) Commercial paper sold within terms of a private placement memorandum,
exempt from registration under Section 4(2) of the Securities Act of
1933, as amended, and may be sold only to dealers in that program or
other "accredited investors." This security has been determined to be
liquid under guidelines established by the Fund's Board of Directors.
These securities may be resold in transactions exempt from registration,
normally to qualified institutional buyers. At Jan. 31, 2007, the value
of these securities amounted to $1,436,190,119 or 32.5% of net assets.
(d) Also represents the cost of securities for federal income tax purposes
at Jan. 31, 2007.
HOW TO FIND INFORMATION ABOUT THE FUND'S PORTFOLIO HOLDINGS
(i) The Fund files its complete schedule of portfolio holdings with the
Securities and Exchange Commission (Commission) for the first and third
quarters of each fiscal year on Form N-Q;
(ii) The Fund's Forms N-Q are available on the Commission's website at
http://www.sec.gov;
(iii) The Fund's Forms N-Q may be reviewed and copied at the Commission's
Public Reference Room in Washington, DC (information on the operations
of the Public Reference Room may be obtained by calling 1-800-SEC-0330);
and
(iv) The Fund's complete schedule of portfolio holdings, as disclosed in its
annual and semiannual shareholder reports and in its filings on Form
N-Q, can be found at riversource.com/funds.
- --------------------------------------------------------------------------------
14 RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT
FINANCIAL STATEMENTS
STATEMENT OF ASSETS AND LIABILITIES
JAN. 31, 2007 (UNAUDITED)
ASSETS
Investments in securities, at value (Note 1)
(identified cost $4,391,245,438) $4,391,245,438
Cash in bank on demand deposit 21,606,012
Capital shares receivable 3,495,788
Accrued interest receivable 11,980,932
- -------------------------------------------------------------------------------------------------------------
Total assets 4,428,328,170
- -------------------------------------------------------------------------------------------------------------
LIABILITIES
Dividends payable to shareholders 4,467,233
Capital shares payable 828
Accrued investment management services fee 34,840
Accrued distribution fee 13,476
Accrued transfer agency fee 18,671
Accrued administrative services fee 5,869
Accrued plan administration services fee 352
Other accrued expenses 660,028
- -------------------------------------------------------------------------------------------------------------
Total liabilities 5,201,297
- -------------------------------------------------------------------------------------------------------------
Net assets applicable to outstanding capital stock $4,423,126,873
=============================================================================================================
REPRESENTED BY
Capital stock -- $.01 par value (Note 1) $ 44,231,929
Additional paid-in capital 4,378,884,318
Accumulated net realized gain (loss) 10,626
- -------------------------------------------------------------------------------------------------------------
Total -- representing net assets applicable to outstanding capital stock $4,423,126,873
=============================================================================================================
Net assets applicable to outstanding shares: Class A $4,177,635,356
Class B $ 96,785,477
Class C $ 2,626,139
Class I $ 60,211,198
Class R5 $ 5,000
Class W $ 94,008
Class Y $ 85,769,695
Net asset value per share of outstanding capital stock: Class A shares 4,177,429,475 $ 1.00
Class B shares 96,976,893 $ 1.00
Class C shares 2,626,877 $ 1.00
Class I shares 60,206,370 $ 1.00
Class R5 shares 5,000 $ 1.00
Class W shares 94,010 $ 1.00
Class Y shares 85,854,236 $ 1.00
- -------------------------------------------------------------------------------------------------------------
See accompanying notes to financial statements.
- --------------------------------------------------------------------------------
RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT 15
STATEMENT OF OPERATIONS
SIX MONTHS ENDED JAN. 31, 2007 (UNAUDITED)
INVESTMENT INCOME
Income:
Interest $ 112,933,140
- ---------------------------------------------------------------------------------------------------------
Expenses (Note 2):
Investment management services fee 6,175,879
Distribution fee
Class A 2,014,929
Class B 383,178
Class C 9,967
Class W 11
Transfer agency fee
Class A 4,693,709
Class B 123,808
Class C 3,238
Class W 22
Class Y 69,497
Administrative services fees and expenses 1,043,783
Plan administration services fee -- Class Y 17,854
Compensation of board members 34,280
Custodian fees 119,860
Printing and postage 646,300
Registration fees 368,000
Professional fees 25,757
Other 70,553
- ---------------------------------------------------------------------------------------------------------
Total expenses 15,800,625
Expenses waived/reimbursed by the Investment Manager and its affiliates (Note 2) (158,396)
- ---------------------------------------------------------------------------------------------------------
15,642,229
Earnings and bank fee credits on cash balances (Note 2) (618,782)
- ---------------------------------------------------------------------------------------------------------
Total net expenses 15,023,447
- ---------------------------------------------------------------------------------------------------------
Investment income (loss) -- net 97,909,693
- ---------------------------------------------------------------------------------------------------------
REALIZED AND UNREALIZED GAIN (LOSS) -- NET
Net gain (loss) on investments security transactions (Note 3) 10,627
- ---------------------------------------------------------------------------------------------------------
Net increase (decrease) in net assets resulting from operations $ 97,920,320
=========================================================================================================
See accompanying notes to financial statements.
- --------------------------------------------------------------------------------
16 RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT
STATEMENTS OF CHANGES IN NET ASSETS
JAN. 31, 2007 JULY 31, 2006
SIX MONTHS ENDED YEAR ENDED
(UNAUDITED)
OPERATIONS AND DISTRIBUTIONS
Investment income (loss) -- net $ 97,909,693 $ 128,901,741
Net realized gain (loss) on investments 10,627 --
Payment from affiliate -- 2,228,011
- ------------------------------------------------------------------------------------------------------
Net increase (decrease) in net assets resulting from operations 97,920,320 131,129,752
- ------------------------------------------------------------------------------------------------------
Distributions to shareholders from:
Net investment income
Class A (94,164,320) (120,543,466)
Class B (2,059,305) (3,346,291)
Class C (53,523) (67,050)
Class I (1,330,801) (1,312,882)
Class R5 (33) N/A
Class W (488) N/A
Class Y (2,070,731) (4,098,348)
- ------------------------------------------------------------------------------------------------------
Total distributions (99,679,201) (129,368,037)
- ------------------------------------------------------------------------------------------------------
CAPITAL SHARE TRANSACTIONS AT CONSTANT $1 NET ASSET VALUE
Proceeds from sales
Class A shares (Note 2) 3,318,638,511 5,730,467,995
Class B shares 65,519,037 192,945,487
Class C shares 2,088,526 5,371,287
Class I shares 40,606,456 79,544,919
Class R5 shares 5,000 N/A
Class W shares 94,480 N/A
Class Y shares 11,970,282 34,687,539
Reinvestment of distributions at net asset value
Class A shares 90,055,284 115,652,944
Class B shares 1,942,978 3,099,540
Class C shares 49,398 61,435
Class I shares 1,302,702 1,268,943
Class W shares 358 N/A
Class Y shares 2,037,791 4,049,831
Payments for redemptions
Class A shares (2,921,600,180) (5,209,174,714)
Class B shares (Note 2) (73,607,618) (222,366,108)
Class C shares (Note 2) (2,015,738) (5,098,008)
Class I shares (45,006,880) (29,609,173)
Class W shares (828) N/A
Class Y shares (11,897,318) (94,609,608)
- ------------------------------------------------------------------------------------------------------
Increase (decrease) in net assets from capital share transactions 480,182,241 606,292,309
- ------------------------------------------------------------------------------------------------------
Total increase (decrease) in net assets 478,423,360 608,054,024
Net assets at beginning of period 3,944,703,513 3,336,649,489
- ------------------------------------------------------------------------------------------------------
Net assets at end of period $ 4,423,126,873 $ 3,944,703,513
======================================================================================================
Undistributed net investment income $ -- $ 1,769,508
- ------------------------------------------------------------------------------------------------------
See accompanying notes to financial statements.
- --------------------------------------------------------------------------------
RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT 17
NOTES TO FINANCIAL STATEMENTS
(Unaudited as to Jan. 31, 2007)
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Fund is a series of RiverSource Money Market Series, Inc. and is
registered under the Investment Company Act of 1940 (as amended) (the 1940
Act) as a diversified, open-end management investment company. RiverSource
Money Market Series, Inc. has 10 billion authorized shares of capital stock
that can be allocated among the separate series as designated by the Board.
The Fund invests primarily in money market instruments.
The Fund offers Class A, Class B, Class C and Class Y shares.
o Class A shares have no sales charge.
o Class B shares may be subject to a contingent deferred sales charge
(CDSC) and automatically convert to Class A shares during the ninth year
of ownership.
o Class C shares may be subject to a CDSC.
o Class Y shares have no sales charge and are offered only to qualifying
institutional investors.
The Fund offers an additional class of shares, Class I, exclusively to certain
institutional investors. Class I shares have no sales charge and are made
available through a separate prospectus supplement provided to investors
eligible to purchase the shares. At Jan. 31, 2007, Ameriprise Financial, Inc.
(Ameriprise Financial) and the affiliated funds-of-funds owned 100% of Class I
shares.
Effective Dec. 11, 2006, the Fund offers an additional class of shares, Class
R5, offered to certain institutional investors. Class R5 shares are sold
without a front-end sales charge or CDSC. At Jan. 31, 2007, Ameriprise
Financial owned 100% of Class R5 shares.
Effective Dec. 1, 2006, the Fund offers an additional class of shares, Class
W, offered through qualifying discretionary accounts. Class W shares are sold
without a front end sales charge or CDSC.
At Jan. 31, 2007, Ameriprise Financial and the affiliated funds-of-funds owned
approximately 1% of the total outstanding Fund shares.
All classes of shares have identical voting, dividend and liquidation rights.
Class specific expenses (e.g., distribution and service fees, transfer agency
fees, plan administration fees) differ among classes. Income, expenses (other
than class specific expenses) and realized and unrealized gains or losses on
investments are allocated to each class of shares based upon its relative net
assets.
The Fund's significant accounting policies are summarized below:
- --------------------------------------------------------------------------------
18 RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT
USE OF ESTIMATES
Preparing financial statements that conform to U.S. generally accepted
accounting principles requires management to make estimates (e.g., on assets,
liabilities and contingent assets and liabilities) that could differ from
actual results.
VALUATION OF SECURITIES
Pursuant to Rule 2a-7 of the 1940 Act, all securities are valued daily at
amortized cost, which approximates market value, in order to maintain a
constant net asset value of $1 per share.
GUARANTEES AND INDEMNIFICATIONS
Under the Fund's organizational documents, its officers and directors are
indemnified against certain liabilities arising out of the performance of
their duties to the Fund. In addition, certain of the Fund's contracts with
its service providers contain general indemnification clauses. The Fund's
maximum exposure under these arrangements is unknown since the amount of any
future claims that may be made against the Fund cannot be determined and the
Fund has no historical basis for predicting the likelihood of any such claims.
FEDERAL TAXES
The Fund's policy is to comply with Subchapter M of the Internal Revenue Code
that applies to regulated investment companies and to distribute substantially
all of its taxable income to shareholders. No provision for income or excise
taxes is thus required.
Net investment income (loss) and net realized gains (losses) may differ for
financial statement and tax purposes. The character of distributions made
during the year from net investment income or net realized gains may differ
from their ultimate characterization for federal income tax purposes. Also,
due to the timing of dividend distributions, the fiscal year in which amounts
are distributed may differ from the year that the income or realized gains
(losses) were recorded by the Fund.
RECENT ACCOUNTING PRONOUNCEMENTS
On Sept. 20, 2006, the Financial Accounting Standards Board ("FASB") released
Statement of Financial Accounting Standards No. 157 "Fair Value Measurements"
("SFAS 157"). SFAS 157 establishes an authoritative definition of fair value,
sets out a framework for measuring fair value, and requires additional
disclosures about fair-value measurements. The application of SFAS 157 is
required for fiscal years beginning after Nov. 15, 2007 and interim periods
within those fiscal years. The impact of SFAS 157 on the Fund's financial
statements is being evaluated.
In June 2006, the Financial Accounting Standards Board (FASB) issued FASB
Interpretation 48 (FIN 48), "Accounting for Uncertainty in Income Taxes." FIN
48 clarifies the accounting for uncertainty in income taxes recognized in
accordance with FASB Statement 109, "Accounting for Income Taxes." FIN 48
prescribes a two-step process to recognize and measure a tax position taken or
expected to be
- --------------------------------------------------------------------------------
RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT 19
taken in a tax return. The first step is to determine whether a tax position
has met the more-likely-than-not recognition threshold and the second step is
to measure a tax position that meets the threshold to determine the amount of
benefit to recognize. FIN 48 also provides guidance on derecognition,
classification, interest and penalties, accounting in interim periods,
disclosure and transition. FIN 48 is effective for fiscal years beginning
after Dec. 15, 2006. Tax positions of the Fund are being evaluated to
determine the impact, if any, to the Fund. The adoption of FIN 48 is not
anticipated to have a material impact on the Fund.
DIVIDENDS TO SHAREHOLDERS
Dividends from net investment income, declared daily and payable monthly, are
reinvested in additional shares of the Fund at net asset value or payable in
cash.
OTHER
Security transactions are accounted for on the date securities are purchased
or sold. Interest income, including amortization of premium and discount, is
recognized daily.
2. EXPENSES AND SALES CHARGES
Under an Investment Management Services Agreement, RiverSource Investments,
LLC (the Investment Manager) determines which securities will be purchased,
held or sold. The management fee is a percentage of the Fund's average daily
net assets that declines from 0.33% to 0.15% annually as the Fund's assets
increase.
Under an Administrative Services Agreement, the Fund pays Ameriprise Financial
a fee for administration and accounting services at a percentage of the Fund's
average daily net assets that declines from 0.06% to 0.03% annually as the
Fund's assets increase.
Other expenses in the amount of $46,957 are for, among other things, certain
expenses of the Fund or the Board including: Fund boardroom and office
expense, employee compensation, employee health and retirement benefits, and
certain other expenses. Payment of these Fund and Board expenses is
facilitated by a company providing limited administrative services to the Fund
and the Board.
Compensation of Board members includes, for the former Board Chair,
compensation as well as retirement benefits. Certain other aspects of the
former Board Chair's compensation, including health benefits and payment of
certain other expenses, are included under other expenses.
Under a Deferred Compensation Plan (the Plan), non-interested board members
may defer receipt of their compensation. Deferred amounts are treated as
though equivalent dollar amounts had been invested in shares of the Fund or
other RiverSource funds. The Fund's liability for these amounts is adjusted
for market value changes and remains in the Fund until distributed in
accordance with the Plan.
- --------------------------------------------------------------------------------
20 RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT
Professional fees include fees paid by the Fund for legal services and
independent auditor services.
Under a Transfer Agency Agreement, RiverSource Service Corporation (the
Transfer Agent) maintains shareholder accounts and records. The Fund pays the
Transfer Agent an annual fee per shareholder account for this service as
follows:
o Class A $22.00
o Class B $23.00
o Class C $22.50
Effective Dec. 11, 2006, the fee structure under the Transfer Agency Agreement
was revised from an account-based fee to an asset-based fee for Class Y. The
Fund will pay the Transfer Agent an annual asset-based fee at a rate of 0.05%
of the Fund's average daily net assets attributable to Class Y shares. Prior
to Dec. 11, 2006, the Fund paid the Transfer Agent an annual account-based fee
of $20.00 per shareholder account.
In addition, with the introduction of Class R5 and Class W shares, the Fund
will pay the Transfer Agent an annual asset-based fee at a rate of 0.05% and
0.20% of the Fund's average daily net assets attributable to Class R5 and
Class W shares, respectively.
Prior to Dec. 11, 2006, Class I paid a transfer agency fee at an annual rate
per shareholder account of $1. This amount is included in the transfer agency
fee on the statement of operations. Effective Dec. 11, 2006, this fee was
eliminated.
The Transfer Agent charges an annual closed account fee of $5 per inactive
account, charged on a pro rata basis for 12 months from the date the account
becomes inactive. These fees are included in the transfer agency fees on the
statement of operations.
The Fund has agreements with Ameriprise Financial Services, Inc. and
RiverSource Distributors, Inc. (collectively, the Distributor) for
distribution and shareholder services. Under a Plan and Agreement of
Distribution pursuant to Rule 12b-1, the Fund pays a fee at an annual rate of
up to 0.10% of the Fund's average daily net assets attributable to Class A and
Class W shares and a fee at an annual rate of up to 0.85% and 0.75% of the
Fund's average daily net assets attributable to Class B and Class C shares,
respectively. At Jan. 31, 2007, the Fund paid an annual rate of 0.75% of the
Fund's average daily net assets attributable to Class B and Class C shares.
Beginning Dec. 11, 2006, a new Plan Administration Services Agreement was
adopted for Class Y. The fee is calculated at a rate of 0.15% of the Fund's
average daily net assets attributable to Class Y shares.
- --------------------------------------------------------------------------------
RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT 21
Sales charges received by the Distributor for distributing Fund shares were
$236,675 for Class B and $1,712 for Class C for the six months ended Jan. 31,
2007.
For the six months ended Jan. 31, 2007, the Investment Manager and its
affiliates waived certain fees and expenses to 0.72% for Class A, 1.38% for
Class B, 1.38% for Class C, 0.60% for Class Y. Of these waived fees and
expenses, the transfer agency fees waived for Class A, Class B, Class C and
Class Y were $149,464, $6,925, $121 and $1,886, respectively. In addition, the
Investment Manager and its affiliates have agreed to waive certain fees and
expenses until July 31, 2007, unless sooner terminated at the discretion of
the Board, such that net expenses will not exceed 0.73% for Class A, 1.38% for
Class B, 1.39% for Class C, 0.53% for Class I, 0.51% for Class R5, 0.76% for
Class W and 0.60% for Class Y of the Fund's average daily net assets.
During the six months ended Jan. 31, 2007, the Fund's custodian and transfer
agency fees were reduced by $618,782 as a result of earnings and bank fee
credits from overnight cash balances. The Fund also pays custodian fees to
Ameriprise Trust Company, an affiliate of Ameriprise Financial.
3. SECURITIES TRANSACTIONS
Cost of purchases and proceeds from sales of securities aggregated
$10,117,364,264 and $9,649,988,934, respectively, for the six months ended
Jan. 31, 2007. Realized gains and losses are determined on an identified cost
basis.
4. BANK BORROWINGS
The Fund has a revolving credit agreement with a syndicate of banks headed by
JPMorgan Chase Bank, N.A. (JPMCB), whereby the Fund may borrow for the
temporary funding of shareholder redemptions or for other temporary or
emergency purposes. The agreement went into effect Sept. 19, 2006. The Fund
must maintain asset coverage for borrowings of at least 300%. The agreement,
which enables the Fund to participate with other RiverSource funds, permits
borrowings up to $500 million, collectively. Interest is charged to each Fund
based on its borrowings at a rate equal to either the higher of the Federal
Funds Effective Rate plus 0.40% or the JPMCB Prime Commercial Lending Rate.
Borrowings are payable within 60 days after such loan is executed. The Fund
also pays a commitment fee equal to its pro rata share of the amount of the
credit facility at a rate of 0.06% per annum. Prior to this agreement, the
Fund paid a commitment fee equal to its pro rata share of the amount of the
credit facility at a rate of 0.07% per annum. The Fund had no borrowings under
the facility outstanding during the six months ended Jan. 31, 2007.
- --------------------------------------------------------------------------------
22 RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT
5. INFORMATION REGARDING PENDING AND SETTLED LEGAL PROCEEDINGS
In June 2004, an action captioned John E. Gallus et al. v. American Express
Financial Corp. and American Express Financial Advisors Inc., was filed in the
United States District Court for the District of Arizona. The plaintiffs
allege that they are investors in several American Express Company mutual
funds and they purport to bring the action derivatively on behalf of those
funds under the Investment Company Act of 1940. The plaintiffs allege that
fees allegedly paid to the defendants by the funds for investment advisory and
administrative services are excessive. The plaintiffs seek remedies including
restitution and rescission of investment advisory and distribution agreements.
The plaintiffs voluntarily agreed to transfer this case to the United States
District Court for the District of Minnesota. In response to our motion to
dismiss the complaint, the Court dismissed one of plaintiffs' four claims and
granted plaintiffs limited discovery. Discovery is currently set to end in
March 2007.
In December 2005, without admitting or denying the allegations, American
Express Financial Corporation (AEFC, which is now known as Ameriprise
Financial, Inc. (Ameriprise Financial)), the parent company of RiverSource
Investments, LLC (RiverSource Investments), entered into settlement agreements
with the Securities and Exchange Commission (SEC) and Minnesota Department of
Commerce (MDOC) related to market timing activities. In connection with these
matters, the SEC and MDOC issued orders (the Orders) alleging that AEFC
violated certain provisions of the federal and Minnesota securities laws by
failing to adequately disclose market timing activities by allowing certain
identified market timers to continue to market time contrary to disclosures in
mutual fund and variable annuity product prospectuses. The Orders also alleged
that AEFC failed to implement procedures to detect and prevent market timing
in 401(k) plans for employees of AEFC and related companies and failed to
adequately disclose that there were no such procedures. Pursuant to the MDOC
Order, the MDOC also alleged that AEFC allowed inappropriate market timing to
occur by failing to have written policies and procedures and failing to
properly supervise its employees.
As a result of the Orders, AEFC was censured and ordered to cease and desist
from committing or causing any violations of certain provisions of the
Investment Advisers Act of 1940, the Investment Company Act of 1940, and
various Minnesota laws. Pursuant to the terms of the Orders, AEFC agreed to
pay disgorgement of $10 million and civil money penalties of $7 million. AEFC
also agreed to make presentations at least annually to its board of directors
and the relevant mutual funds' board that include an overview of policies and
procedures to prevent market timing, material changes to these policies and
procedures and whether disclosures related to market timing are consistent
with the SEC order and federal securities laws. AEFC also agreed to retain an
independent distribution consultant to assist in developing a plan for
distribution of all disgorgement and civil penalties ordered by
- --------------------------------------------------------------------------------
RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT 23
the SEC in accordance with various undertakings detailed at
http://www.sec.gov/litigation/admin/ia-2451.pdf. In addition, AEFC agreed to
complete and submit to the MDOC a compliance review of its procedures
regarding market timing within one year of the MDOC Order, including a summary
of actions taken to ensure compliance with applicable laws and regulations and
certification by a senior officer regarding compliance and supervisory
procedures.
Ameriprise Financial and its affiliates have cooperated with the SEC and the
MDOC in these legal proceedings, and have made regular reports to the
RiverSource Funds' Boards of Directors/Trustees.
Ameriprise Financial and certain of its affiliates have historically been
involved in a number of legal, arbitration and regulatory proceedings,
including routine litigation, class actions, and governmental actions,
concerning matters arising in connection with the conduct of their business
activities. Ameriprise Financial believes that the Funds are not currently the
subject of, and that neither Ameriprise Financial nor any of its affiliates
are the subject of, any pending legal, arbitration or regulatory proceedings
that are likely to have a material adverse effect on the Funds or the ability
of Ameriprise Financial or its affiliates to perform under their contracts
with the Funds. Ameriprise Financial is required to make 10-Q, 10-K and, as
necessary, 8-K filings with the Securities and Exchange Commission on legal
and regulatory matters that relate to Ameriprise Financial and its affiliates.
Copies of these filings may be obtained by accessing the SEC website at
www.sec.gov.
There can be no assurance that these matters, or the adverse publicity
associated with them, will not result in increased fund redemptions, reduced
sale of fund shares or other adverse consequences to the Funds. Further,
although we believe proceedings are not likely to have a material adverse
effect on the Funds or the ability of Ameriprise Financial or its affiliates
to perform under their contracts with the Funds, these proceedings are subject
to uncertainties and, as such, we are unable to estimate the possible loss or
range of loss that may result. An adverse outcome in one or more of these
proceedings could result in adverse judgments, settlements, fines, penalties
or other relief that could have a material adverse effect on the consolidated
financial condition or results of operations of Ameriprise Financial.
- --------------------------------------------------------------------------------
24 RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT
6. FINANCIAL HIGHLIGHTS
The tables below show certain important financial information for evaluating
the Fund's results.
CLASS A
PER SHARE INCOME AND CAPITAL CHANGES(a)
Fiscal period ended July 31, 2007(h) 2006 2005 2004 2003
Net asset value, beginning of period $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
- -------------------------------------------------------------------------------------------------------------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss) .02 .04 .02 -- .01
- -------------------------------------------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends from net investment income (.02) (.04) (.02) -- (.01)
- -------------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
- -------------------------------------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA
Net assets, end of period (in millions) $ 4,178 $ 3,692 $ 3,054 $ 3,680 $ 4,649
- -------------------------------------------------------------------------------------------------------------
Ratio of expenses to average
daily net assets(b) .72%(c),(d) .75%(d) .80% .78% .69%
- -------------------------------------------------------------------------------------------------------------
Ratio of net investment income (loss)
to average daily net assets 4.59%(c) 3.75% 1.58% .35% .78%
- -------------------------------------------------------------------------------------------------------------
Total return(e) 2.39%(f) 3.82%(g) 1.63% .35% .77%
- -------------------------------------------------------------------------------------------------------------
(a) For a share outstanding throughout the period. Rounded to the nearest
cent.
(b) Expense ratio is based on total expenses of the Fund before reduction of
earnings and bank fee credits on cash balances.
(c) Adjusted to an annual basis.
(d) The Investment Manager and its affiliates waived/reimbursed the Fund for
certain expenses. Had they not done so, the annual ratios of expenses
for Class A would have been 0.73% for the six months ended Jan. 31, 2007
and 0.83% for the year ended July 31, 2006.
(e) Total return does not reflect payment of a sales charge.
(f) Not annualized.
(g) The Fund received a one time payment by Ameriprise Financial for
additional earnings from overnight cash balances determined to be owed
for prior years. Had the Fund not received this payment, the total
return would have been lower by 0.06%.
(h) Six months ended Jan. 31, 2007 (Unaudited).
- --------------------------------------------------------------------------------
RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT 25
CLASS B
PER SHARE INCOME AND CAPITAL CHANGES(a)
Fiscal period ended July 31, 2007(h) 2006 2005 2004 2003
Net asset value, beginning of period $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
- -----------------------------------------------------------------------------------------------------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss) .02 .03 .01 -- --
- -----------------------------------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends from net investment income (.02) (.03) (.01) -- --
- -----------------------------------------------------------------------------------------------------
Net asset value, end of period $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
- -----------------------------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA
Net assets, end of period (in millions) $ 97 $ 103 $ 129 $ 180 $ 278
- -----------------------------------------------------------------------------------------------------
Ratio of expenses to average
daily net assets(b),(c) 1.38%(d) 1.40% 1.44% 1.07% 1.26%
- -----------------------------------------------------------------------------------------------------
Ratio of net investment income (loss)
to average daily net assets 3.94%(d) 3.05% .91% .05% .21%
- -----------------------------------------------------------------------------------------------------
Total return(e) 2.05%(f) 3.14%(g) .98% .06% .20%
- -----------------------------------------------------------------------------------------------------
(a) For a share outstanding throughout the period. Rounded to the nearest
cent.
(b) Expense ratio is based on total expenses of the Fund before reduction of
earnings and bank fee credits on cash balances.
(c) The Investment Manager and its affiliates waived/reimbursed the Fund for
certain expenses. Had they not done so, the annual ratios of expenses
for Class B would have been 1.39% for the six months ended Jan. 31, 2007
and 1.49%, 1.45%, 1.43% and 1.38% for the years ended July 31, 2006,
2005, 2004 and 2003, respectively.
(d) Adjusted to an annual basis.
(e) Total return does not reflect payment of a sales charge.
(f) Not annualized.
(g) The Fund received a one time payment by Ameriprise Financial for
additional earnings from overnight cash balances determined to be owed
for prior years. Had the Fund not received this payment, the total
return would have been lower by 0.06%.
(h) Six months ended Jan. 31, 2007 (Unaudited).
- --------------------------------------------------------------------------------
26 RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT
CLASS C
PER SHARE INCOME AND CAPITAL CHANGES(a)
Fiscal period ended July 31, 2007(h) 2006 2005 2004 2003
Net asset value, beginning of period $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
- ------------------------------------------------------------------------------------------------------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss) .02 .03 .01 -- --
- ------------------------------------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends from net investment income (.02) (.03) (.01) -- --
- ------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
- ------------------------------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA
Net assets, end of period (in millions) $ 3 $ 3 $ 2 $ 3 $ 4
- ------------------------------------------------------------------------------------------------------
Ratio of expenses to average
daily net assets(b),(c) 1.38%(d) 1.41% 1.44% 1.07% 1.27%
- ------------------------------------------------------------------------------------------------------
Ratio of net investment income (loss)
to average daily net assets 3.93%(d) 3.05% .91% .06% .21%
- ------------------------------------------------------------------------------------------------------
Total return(e) 2.05%(f) 3.14%(g) .98% .06% .20%
- ------------------------------------------------------------------------------------------------------
(a) For a share outstanding throughout the period. Rounded to the nearest
cent.
(b) Expense ratio is based on total expenses of the Fund before reduction of
earnings and bank fee credits on cash balances.
(c) The Investment Manager and its affiliates waived/reimbursed the Fund for
certain expenses. Had they not done so, the annual ratios of expenses
for Class C would have been 1.39% for the six months ended Jan. 31, 2007
and 1.49%, 1.45%, 1.43% and 1.38% for the years ended July 31, 2006,
2005, 2004 and 2003, respectively.
(d) Adjusted to an annual basis.
(e) Total return does not reflect payment of a sales charge.
(f) Not annualized.
(g) The Fund received a one time payment by Ameriprise Financial for
additional earnings from overnight cash balances determined to be owed
for prior years. Had the Fund not received this payment, the total
return would have been lower by 0.06%.
(h) Six months ended Jan. 31, 2007 (Unaudited).
- --------------------------------------------------------------------------------
RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT 27
CLASS I
PER SHARE INCOME AND CAPITAL CHANGES(a)
Fiscal period ended July 31, 2007(h) 2006 2005 2004(b)
Net asset value, beginning of period $ 1.00 $ 1.00 $ 1.00 $ 1.00
- -------------------------------------------------------------------------------------------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss) .02 .04 .02 --
- -------------------------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends from net investment income (.02) (.04) (.02) --
- -------------------------------------------------------------------------------------------
Net asset value, end of period $ 1.00 $ 1.00 $ 1.00 $ 1.00
- -------------------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA
Net assets, end of period (in millions) $ 60 $ 63 $ 12 $ 4
- -------------------------------------------------------------------------------------------
Ratio of expenses to average
daily net assets(c) .40%(d) .42% .39% .43%(d)
- -------------------------------------------------------------------------------------------
Ratio of net investment income (loss)
to average daily net assets 4.93%(d) 4.42% 2.21% .77%(d)
- -------------------------------------------------------------------------------------------
Total return(e) 2.55%(f) 4.16%(g) 2.04% .30%(f)
- -------------------------------------------------------------------------------------------
(a) For a share outstanding throughout the period. Rounded to the nearest
cent.
(b) Inception date is March 4, 2004.
(c) Expense ratio is based on total expenses of the Fund before reduction of
earnings and bank fee credits on cash balances.
(d) Adjusted to an annual basis.
(e) Total return does not reflect payment of a sales charge.
(f) Not annualized.
(g) The Fund received a one time payment by Ameriprise Financial for
additional earnings from overnight cash balances determined to be owed
for prior years. Had the Fund not received this payment, the total
return would have been lower by 0.06%.
(h) Six months ended Jan. 31, 2007 (Unaudited).
- --------------------------------------------------------------------------------
28 RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT
CLASS R5
PER SHARE INCOME AND CAPITAL CHANGES(a)
Fiscal period ended July 31, 2007(b)
Net asset value, beginning of period $ 1.00
- -------------------------------------------------------------------------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss) .01
- -------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends from net investment income (.01)
- -------------------------------------------------------------------------
Net asset value, end of period $ 1.00
- -------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA
Net assets, end of period (in millions) $ --
- -------------------------------------------------------------------------
Ratio of expenses to average
daily net assets(c) .48%(d)
- -------------------------------------------------------------------------
Ratio of net investment income (loss)
to average daily net assets 4.80%(d)
- -------------------------------------------------------------------------
Total return(e) .66%(f)
- -------------------------------------------------------------------------
(a) For a share outstanding throughout the period. Rounded to the nearest
cent.
(b) For the period from Dec. 11, 2006 (inception date) to Jan. 31, 2007
(Unaudited).
(c) Expense ratio is based on total expenses of the Fund before reduction of
earnings and bank fee credits on cash balances.
(d) Adjusted to an annual basis.
(e) Total return does not reflect payment of a sales charge.
(f) Not annualized.
- --------------------------------------------------------------------------------
RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT 29
CLASS W
PER SHARE INCOME AND CAPITAL CHANGES(a)
Fiscal period ended July 31, 2007(b)
Net asset value, beginning of period $ 1.00
- -----------------------------------------------------------------------------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss) .01
- -----------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends from net investment income (.01)
- -----------------------------------------------------------------------------
Net asset value, end of period $ 1.00
- -----------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA
Net assets, end of period (in millions) $ --
- -----------------------------------------------------------------------------
Ratio of expenses to average
daily net assets(c) .67%(d)
- -----------------------------------------------------------------------------
Ratio of net investment income (loss)
to average daily net assets 4.38%(d)
- -----------------------------------------------------------------------------
Total return(e) .76%(f)
- -----------------------------------------------------------------------------
(a) For a share outstanding throughout the period. Rounded to the nearest
cent.
(b) For the period from Dec. 1, 2006 (inception date) to Jan. 31, 2007
(Unaudited).
(c) Expense ratio is based on total expenses of the Fund before reduction of
earnings and bank fee credits on cash balances.
(d) Adjusted to an annual basis.
(e) Total return does not reflect payment of a sales charge.
(f) Not annualized.
- --------------------------------------------------------------------------------
30 RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT
CLASS Y
PER SHARE INCOME AND CAPITAL CHANGES(a)
Fiscal period ended July 31, 2007(h) 2006 2005 2004 2003
Net asset value, beginning of period $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
- ------------------------------------------------------------------------------------------------------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss) .02 .04 .02 -- .01
- ------------------------------------------------------------------------------------------------------
LESS DISTRIBUTIONS:
Dividends from net investment income (.02) (.04) (.02) -- (.01)
- ------------------------------------------------------------------------------------------------------
Net asset value, end of period $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
- ------------------------------------------------------------------------------------------------------
RATIOS/SUPPLEMENTAL DATA
Net assets, end of period (in millions) $ 86 $ 84 $ 140 $ 209 $ 262
- ------------------------------------------------------------------------------------------------------
Ratio of expenses to average
daily net assets(b) .60%(c) .62%(d) .66% .65% .62%
- ------------------------------------------------------------------------------------------------------
Ratio of net investment income (loss)
to average daily net assets 4.72%(c) 3.78% 1.55% .47% .82%
- ------------------------------------------------------------------------------------------------------
Total return(e) 2.45%(f) 3.95%(g) 1.76% .48% .85%
- ------------------------------------------------------------------------------------------------------
(a) For a share outstanding throughout the period. Rounded to the nearest
cent.
(b) Expense ratio is based on total expenses of the Fund before reduction of
earnings and bank fee credits on cash balances.
(c) Adjusted to an annual basis.
(d) The Investment Manager and its affiliates waived/reimbursed the Fund for
certain expenses. Had they not done so, the annual ratio of expenses for
Class Y would have been 0.68% for the year ended July 31, 2006.
(e) Total return does not reflect payment of a sales charge.
(f) Not annualized.
(g) The Fund received a one time payment by Ameriprise Financial for
additional earnings from overnight cash balances determined to be owed
for prior years. Had the Fund not received this payment, the total
return would have been lower by 0.06%.
(h) Six months ended Jan. 31, 2007 (Unaudited).
- --------------------------------------------------------------------------------
RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT 31
PROXY VOTING
The policy of the Board is to vote all proxies of the companies in which the
Fund holds investments. The procedures are stated in the Statement of
Additional Information (SAI). You may obtain a copy of the SAI without charge
by calling RiverSource Funds at (888) 791-3380; contacting your financial
institution; visiting riversource.com/funds; or searching the website of the
Securities and Exchange Commission (SEC) at http://www.sec.gov. Information
regarding how the Fund voted proxies relating to portfolio securities during
the 12-month period ended June 30, 2006 is available without charge by
visiting riversource.com/funds; or searching the website of the SEC at
www.sec.gov.
- --------------------------------------------------------------------------------
32 RIVERSOURCE CASH MANAGEMENT FUND - 2007 SEMIANNUAL REPORT
RIVERSOURCE(R) CASH MANAGEMENT FUND
734 Ameriprise Financial Center
Minneapolis, MN 55474
riversource.com/funds
This report must be accompanied or
preceded by the Fund's current
prospectus. RiverSource(R) mutual funds
are distributed by RiverSource
Distributors, Inc. and Ameriprise
Financial Services, Inc., Members
NASD, and managed by RiverSource
RIVERSOURCE [LOGO](R) Investments, LLC. These companies are
INVESTMENTS part of Ameriprise Financial, Inc. S-6322 X (3/07)
Item 2. Code of Ethics. Not applicable for semi-annual reports.
Item 3. Audit Committee Financial Expert. Not applicable for semi-annual
reports.
Item 4. Principal Accountant Fees and Services. Not applicable for
semi-annual reports.
Item 5. Audit Committee of Listed Registrants. Not applicable.
Item 6. The complete schedule of investments is included in Item 1 of this
Form N-CSR.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End
Management Investment Companies. Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchase of Equity Securities by Closed-End Management Investment
Company and Affiliated Purchasers. Not applicable.
Item 10. Submission of matters to a vote of security holders. Not applicable.
Item 11. Controls and Procedures.
(a) Based upon their evaluation of the registrant's disclosure
controls and procedures as conducted within 90 days of the filing
date of this Form N-CSR, the registrant's Principal Financial
Officer and Principal Executive Officer have concluded that those
disclosure controls and procedures provide reasonable assurance
that the material information required to be disclosed by the
registrant on this report is recorded, processed, summarized and
reported within the time periods specified in the Securities and
Exchange Commission's rules and forms.
(b) There were no changes in the registrant's internal controls over
financial reporting that occurred during the registrant's last fiscal
half-year (the registrant's second fiscal half-year in the case of an
annual report) that has materially affected, or is reasonably likely
to materially affect, the registrant's internal control over
financial reporting.
Item 12. Exhibits.
(a)(1) Not applicable for semi-annual reports.
(a)(2) Separate certification for the Registrant's principal
executive officer and principal financial officer, as required by
Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a)
under the Investment Company Act of 1940, are attached as
EX.99.CERT.
(a)(3) Not applicable.
(b) A certification by the Registrant's principal executive officer
and principal financial officer, pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002 and Rule 30a-2(b) under the Investment
Company Act of 1940, is attached as EX.99.906 CERT.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and
the Investment Company Act of 1940, the Registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) RiverSource Money Market Series, Inc.
By /s/ Patrick T. Bannigan
-----------------------
Patrick T. Bannigan
President and Principal Executive Officer
Date April 3, 2007
Pursuant to the requirements of the Securities Exchange Act of 1934 and
the Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the Registrant and in the capacities and on the
dates indicated.
By /s/ Patrick T. Bannigan
-----------------------
Patrick T. Bannigan
President and Principal Executive Officer
Date April 3, 2007
By /s/ Jeffrey P. Fox
-----------------------
Jeffrey P. Fox
Treasurer and Principal Financial Officer
Date April 3, 2007