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                                                  (RIVERSOURCE INVESTMENTS LOGO)

                    PROSPECTUS SUPPLEMENT -- APRIL 14, 2008

                                                                                         
RiverSource Absolute Return Currency and Income Fund Prospectus Date (12/28/07)             Form # S-6502-99 E



The RiverSource Absolute Return Currency and Income Fund Principal Investment
Strategies section of the prospectus has been revised to read as follows

The Fund is a non-diversified fund that, under normal market conditions, will
invest at least 80% of its net assets (including any borrowings for investment
purposes) in short-duration debt obligations (or securities that invest in such
debt obligations, including an affiliated money market fund) and forward foreign
currency contracts. In pursuit of the Fund's objective, to provide absolute
return, the investment manager (RiverSource Investments, LLC), seeks to generate
positive total returns from the income produced by the short-term debt
obligations, plus (minus) the gain (loss) resulting from fluctuations in the
values of various foreign currencies relative to the U.S. dollar.

The Fund's investment in short-duration debt obligations will consist primarily
of (i) U.S. dollar denominated non-government, corporate and structured debt
securities rated investment grade, or, if unrated, determined to be of
comparable quality by the investment manager, and (ii) shares of an affiliated
money market fund. A small portion of the Fund's portfolio may consist of U.S.
government securities. In addition to producing income, these holdings will be
designated by the Fund, as necessary, to cover obligations with respect to, or
that may result from, the Fund's investments in forward currency contracts. The
Fund targets a portfolio duration of one to five months but may extend the
portfolio duration up to one year.

The Fund does not actually take ownership of foreign currencies or sell actual
foreign currencies. Rather, through forward currency contracts, the Fund gains
economic exposure comparable to the exposure that it would have if it had bought
or sold the currencies directly. A forward contract requires the purchase or
delivery of a foreign currency at some future date. The price paid for the
contract is the current price of the foreign currency in U.S. dollars plus or
minus an adjustment based on the interest rate differential between the U.S.
dollar and the foreign currency. It is expected that the gross notional value of
the Fund's forward foreign currency contracts will be equivalent to at least 80%
of the Fund's net assets.

The investment manager utilizes a quantitative, proprietary model that uses
various fundamental and technical factors, including current and historical
data, to rank the anticipated value of several developed countries' currencies
relative to the U.S. dollar. The investment manager will enter into long forward
currency contracts for a limited number of the currencies that rank higher in
the model, and the Fund will experience profits (losses) to the extent the value
of the currency appreciates (depreciates) relative to the U.S. dollar.
Conversely, the investment manager will enter into short forward currency
contracts for a limited number of the currencies that rank lower in the model,
and the Fund will experience profits (losses) to the extent the value of the
currency depreciates (appreciates) relative to the U.S. dollar. Except to close
or reduce existing positions, the Fund will not enter into long and short
forward currency contracts in the same currency at the same time. The investment
manager runs the model regularly and generally seeks to maintain long and short
forward currency contracts with approximately equal gross notional values.

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S-6502-1 A (4/08)


The following risks have been added to the RiverSource Absolute Return Currency
and Income Fund Principal Risks section:

RISKS OF INVESTING IN AFFILIATED MONEY MARKET FUND. In addition to the fees and
expenses that the Fund directly bears, the Fund indirectly bears the fees and
expenses of the affiliated money market fund in which it invests. To the extent
these fees and expenses are expected to exceed 0.01% of the Fund's average daily
net assets, they will be reflected in the Fund's Annual Operating Expenses set
forth in the table under "Fees and Expenses." Additionally, by investing in an
affiliated money market fund, the Fund will be exposed to the investment risks
of the affiliated money market fund. To the extent the Fund invests a
significant portion of its assets in the affiliated money market fund, the Fund
will bear increased indirect expenses and be more susceptible to the investment
risks of the affiliated money market fund, which include:

ACTIVE MANAGEMENT RISK. The affiliated money market fund is actively managed and
its performance therefore will reflect in part the ability of the portfolio
managers to select securities and to make investment decisions that are suited
to achieving the fund's investment objective. Due to its active management, the
affiliated money market fund could underperform other mutual funds with similar
investment objectives.

CONCENTRATION RISK. Investments that are concentrated in a particular issuer,
geographic region, or sector will be more susceptible to changes in price. The
more a fund diversifies, the more it spreads risk. For example, if the
affiliated money market fund concentrates its investments in banks, the value of
these investments may be adversely affected by economic or regulatory
developments in the banking industry.

CREDIT RISK. Credit risk is the risk that the issuer of a security, or the
counterparty to a contract, will default or otherwise become unable or unwilling
to honor a financial obligation, such as payments due on a bond or a note. If
the affiliated money market fund purchases unrated securities, or if the rating
of a security is reduced after purchase, the affiliated money market fund will
depend on the investment manager's analysis of credit risk more heavily than
usual.

REINVESTMENT RISK. Reinvestment risk is the risk that the affiliated money
market fund will not be able to reinvest income or principal at the same rate it
currently is earning.

The rest of the RiverSource Absolute Return Currency and Income Fund Principal
Risks section remains unchanged.

The Unusual Market Conditions section found on page 27p of the prospectus has
been revised to read as follows:

Unusual Market Conditions. During unusual market conditions, each of RiverSource
120/20 Contrarian Equity Fund and RiverSource 130/30 U.S. Equity Fund may
temporarily invest more of its assets in money market securities, and
RiverSource Absolute Return Currency and Income Fund may temporarily have less
exposure to forward currency contracts, than during normal market conditions.
Although investing in these securities would serve primarily to attempt to avoid
losses, this type of investing also could prevent the Fund from achieving its
investment objective. During these times, the portfolio managers may make
frequent securities trades that could result in increased fees, expenses and
taxes, and decreased performance. Instead of investing in money market
securities directly, the Fund may invest in shares of an affiliated money market
fund. See "Cash Reserves" for more information.

The Cash Reserves section found on page S.25 of the prospectus has been revised
to read as follows:

CASH RESERVES. RiverSource 120/20 Contrarian Equity Fund and RiverSource 130/30
U.S. Equity Fund may invest daily cash balances in RiverSource Short-Term Cash
Fund (Short-Term Cash Fund), a money market fund established for the exclusive
use of the RiverSource funds and other institutional clients of RiverSource
Investments. RiverSource Absolute Return Currency and Income Fund may, in
addition to investing its daily cash balance, invest a higher percentage of its
assets in Short Term Cash Fund, as an alternative to investing directly in
short-duration debt obligations, as part of its principal investment strategy.
While Short-Term Cash Fund does not pay an advisory fee to RiverSource
Investments, it does incur other expenses, and is expected to operate at a very
low expense ratio. A fund will invest in Short-Term Cash Fund only to the extent
it is consistent with the fund's investment objectives and policies. Short-Term
Cash Fund is not insured or guaranteed by the FDIC or any other government
agency.