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Products April 28, 2003
American Express Adds Three To Its Mutual Fund Lineup
April 28, 2003 (PLANSPONSOR.com) - American Express
Financial Corporation, a unit of American Express Company,
has launched three new mutual funds.
Reported by Eric Hazard
Among the new offerings are a quantitative large cap equity fund that will be managed by American Express, and two American Express Partners mutual funds that will be subadvised by various asset managers. The funds are available through American Express financial advisors, American Express Brokerage and select American Express retirement plans, according to a news release.
The funds are:
- AXP Quantitative Large Cap Equity Fund: employs three quantitative models – value, momentum and factor models – to select value and growth names from the S&P 500.
- AXP Partners Growth Fund: co-subadvised by Goldman Sachs Asset Management and Eagle Asset Management Inc., the fund targets companies with revenue and profits that are stable and predictable or growing at above average rates.
- AXP Partners Aggressive Growth Fund: co-subadvised by American Century Investment Management Inc. and Turner Investment Partners Inc., the fund invests primarily in stocks of mid-sized companies with excellent prospects for long-term growth.
American Express Financial Corporation, the investment manager for American Express Funds, owns, manages or administers approximately $228 billion in assets, including 12 subadvised mutual funds under the American Express Partners mutual funds series and 61 retail mutual funds under American Express Funds.